voestalpine AG

EANS-Adhoc: voestalpine AG
voestalpine withstanding deteriorating economic environment

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  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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  announcement.
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Financial Figures/Balance Sheet/annual report
02.06.2016


Due to the concentration on technology-intensive most demanding market segments,
voestalpine achieved broadly stable earnings in an undoubtedly challenging
economic environment in the business year 2015/16.
Economically, Europe was able to continue the moderate recovery trend, whereas
North America showed easing dynamics towards the end of the business year,
Brazil and Russia stayed in deep recession. Structural changes in the Chinese
economy led to a slowdown of its growth-rates, resulting in global price
pressure for commodities (mainly steel) because of massive oversupply.
The general downward trend of raw material prices continued in 2015/16; mainly
the slump of the oil-price led to substantial pressure on the earnings of the
Special Steel and the Metal Engineering Divisions (excluding non-recurring
items), which could not be fully offset by an outstanding performance of other
market segments (such as railway infrastructure). The Steel Division managed to
again increase its earnings despite the challenging environment, thanks to its
ambitious cost-cutting and efficiency improvement program; the Metal Forming
Division improved earnings even more pronounced due to the strong automotive
demand and its internationalization strategy.
Despite investments on record level (EUR 1,311 million), voestalpine achieved a
positive free cash flow (before dividend) and was therefore able to improve its
gearing ratio to 54.5% from 58.2% last year.
The dividend proposal to the AGM is EUR 1.05 per share, an increase of EUR 0.05
compared to last year.

The results of the business year 2015/16 as well as those of business year 2014/
15 are impacted by non-recurring items (changes of consolidation in Metal
Engineering Division in 2015/16 and sale of assets in Metal Forming Division in
2014/15 respectively). In addition to these non-recurring items, impairment
losses of EUR 38.8 million, EBIT-effective in the 4th Quarter of the business
year 2015/16, were included as a consequence of negative market trends affecting
the business unit Seamless Tubes (Metal Engineering Division), in particular due
to the substantial fall of the oil and gas price.
 
For reason of comparison of the operational developments, financial figures
excluding non-recurring items in both business years are shown besides the IFRS-
data.
 
 
Key figures of voestalpine Group

 ______________________________________________________________________________
|(acc._IFRS;_in_EURm)___|FY_2014/15*____________|FY_2015/16_____________|Change|
|_______________________|04/01/2014_-_03/31/2015|04/01/2015_-_03/31/2016|in_%__|
|Revenue________________|11,189.5_______________|11,068.7_______________|-1.1__|
|EBITDA_________________|1,530.1________________|1,583.4________________|+3.5__|
|EBITDA_margin_in_%_____|13.7___________________|14.3___________________|______|
|EBIT___________________|886.2__________________|888.8__________________|+0.3__|
|EBIT_margin_in_%_______|7.9____________________|8.0____________________|______|
|Profit_before_tax______|739.0__________________|751.3__________________|+1.7__|
|Profit_for_the_period**|595.0__________________|602.1__________________|+1.2__|
|EPS_(in_EUR)___________|3.18___________________|3.35___________________|+5.3__|
|Gearing ratio in % (03/|58.2                   |54.5                   |      |
|31)____________________|_______________________|_______________________|______|
 
*  Business Year 2014/15 retroactively adjusted.
** Before deduction of non-controlling interests and interest on hybrid capital.
 
Figures adjusted by special items from changes of consolidation:
 _____________________________________________________________________________
|_____________________|ADJUSTED_______________|ADJUSTED______________|ADJUSTED|
|(acc._IFRS;_in_EURm)_|FY_2014/15*____________|FY_2015/16____________|Change__|
|_____________________|04/01/2014_-_03/31/2015|04/01/2015-_03/31/2016|in_%____|
|EBITDA_______________|1,468.2________________|1,445.8_______________|-1.5____|
|EBITDA_margin_in_%___|13.1___________________|13.1__________________|________|
|EBIT_________________|841.0__________________|814.4_________________|-3.2____|
|EBIT_margin_in_%_____|7.5____________________|7.4___________________|________|
|Profit_before_tax____|693.8__________________|676.8_________________|-2.5____|
|Profit for the       |552.6                  |509.8                 |-7.7    |
|period**_____________|_______________________|______________________|________|
|EPS_(in_EUR)_________|2.94___________________|2.64__________________|-10.2___|
 
*  Business Year 2014/15 retroactively adjusted.
**  Before deduction of non-controlling interests and interest on hybrid
capital.
 
Additional information as well as the Annual Report 2015/16 of voestalpine AG as
of the effective date of March 31, 2016 is available on our website
www.voestalpine.com under the category "Investors". If you have any questions,
please contact our Investor Relations Team +43/50304/15-9949


Further inquiry note:
DI Peter Fleischer
Head of Investor Relations
Tel.: +43/50304/15-9949
Fax:  +43/50304/55-5581
mailto:peter.fleischer@voestalpine.com
http://www.voestalpine.com

end of announcement                               euro adhoc 
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issuer:      voestalpine AG
             voestalpine-Straße  1
             A-4020 Linz
phone:       +43 50304/15-9949
FAX:         +43 50304/55-5581
mail:     IR@voestalpine.com
WWW:      www.voestalpine.com
sector:      Metal Goods & Engineering
ISIN:        AT0000937503
indexes:     WBI, ATX Prime, ATX
stockmarkets: official market: Wien 
language:   English
 

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