voestalpine AG

EANS-Adhoc: voestalpine AG /voestalpine reducing earnings expectations by EUR 100 million for FY 2012/13 despite development in the first half according to expectations

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
6-month report


With an EBITDA of EUR 730 million and EBIT of EUR 441 million based on almost
stable revenues in the first half of 2012/13 voestalpine is well on track to
repeat the (adjusted) earnings figures of the business year 2011/12.
Nevertheless due to fast growing economic uncertainties in recent weeks the
management board cuts the earnings forecast for the full business year by EUR
100 million in comparison with the original guidance. Therefore from todays
point of view the board expects for the business year 2012/13 an operating
profit (EBITDA) of approximately EUR 1.4 billion and a profit from operations
(EBIT) of about EUR 800 million (instead of originally EUR 1.5 billion resp. EUR
900 million).

Reasons: Further increase of the sustained negative global business environment
since summer 2011 regarding almost all key industrial segments and important
economic regions - so far less impacted sectors like automotive, mechanical
engineering and energy industries currently under pressure on a broad scale -
only few market segments like aviation industry and agricultural machine
building still facing stable business conditions. 

Unchanged solid earnings situation of voestalpine-group within this difficult
sentiment due to technology and quality driven niche position - nearly stable
revenues and only slightly declining operational earnings development from 1st
to 2nd quarter, somewhat more significant decline compared to the (outstanding)
1st half of 2011/12 - EBITDA-margin continuously in the double-digit range (see
chart), clearly positive Free Cash Flow resulting in a further deleveraging in
the course of the 1st half of 2012/13 despite dividend payment in the summer

Details on the 1st half year 2012/13 to follow on November, 7th 2012 before
opening of the Vienna stock exchange.

Key figures of voestalpine Group

(acc. IFRS; in EURm)*      H1 2011/12         H1 2012/13         Change
                           04/01 - 09/30/2011 04/01 - 09/30/2012 in %
Revenue                    5,977.7            5,932.8            -0.8
EBITDA                     824.2              729.8              -11.5
EBITDA margin in %         13.8               12.3               
EBIT                       531.4              440.7              -17.1
EBIT margin in %           8.9                7.4                
Profit before tax          443.3              347.8              -21.5
Profit for the period**    346.1              269.5              -22.1
EPS (in EUR)               1.82               1.36               -25.3
Gearing ratio in % (09/30) 60.9               51.0               

* according to IFRS all results after Purchase Price Allocation (PPA)
** before minority interest and hybrid capital interest

If you have any questions please contact our Investor Relations-Team

Further inquiry note:
DI Peter Fleischer
Head of Investor Relations
Tel.: +43/50304/15-9949
Fax:  +43/50304/55-5581

end of announcement                               euro adhoc 

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

Weitere Meldungen: voestalpine AG

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