Voestalpine: Savings Higher than Planned

People ♦ Published: November 7, 2012; 22:35 ♦ (Vindobona)

The Austrian steel group could reduce its costs more effectively than initially planned. From 2010 to 2013, total savings reach € 650m.

Voestalpine: Savings Higher than Planned / Picture: © Flickr / Worldsteel

CEO Wolfgang Eder explains that voestalpine has planned to achieve savings of € 600m from 2010 to 2013. The actual cost reduction totaled € 650m, Eder says. However, voestalpine also had to report bad news today. The expected operating income will be lower by € 100m. In total, the operating profit is expected to reach 800m in 2012/13.

The biggest cost reduction was recorded…