Voestalpine back in black

Companies ♦ Published: August 20, 2010; 14:49 ♦ (Vindobona)

The Austrian steel company Voestalpine has benefited from strong economic recovery in the first quarter of 2010/11 and has by far exceeded earnings expectations of analysts.

Voestalpine back in black / Picture: © Vindobona.org

Operating profit significantly increases to €203.3m ($261.8).

After negative results in the previous quarter, the company now registers positive figures. The operating result (EBIT) climbed to €203.3m ($261.8) compared to a minus of €26.3m ($33.9m) in the previous year, while net income rose to €121.1m ($155.9m) from minus €48.2m ($62.1), the…