voestalpine AG / voestalpine withstanding deteriorating economicenvironment

voestalpine AG / voestalpine withstanding deteriorating economicenvironment / Picture: © Vindobona.org

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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

Digital press kit: http://www.ots.at/pressemappe/2054/aom

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