Voestalpine Group, based in Austria, reported a 22.1pct YoY increase in revenue, reaching EUR 18.2 bln (USD 19.5 bln) for the business year 2022/23, ended on March 31, 2023.
The company stated that this revenue figure represents the highest level of revenue and best operating result ever achieved in its history during the business year 2022/23.
Despite navigating through a highly volatile environment marked by factors such as the Ukraine war, high inflation, rising interest rates, disruptions in the supply chain, and substantial increases in energy prices, Voestalpine managed to deliver its best-ever performance, the company said.
The company’s EBITDA grew to EUR 2.5 bln (USD 2.68 bln) from EUR 2.3 bln in the previous business year. However, Voestalpine’s profit after tax fell by 11.4pct to EUR 1.2 bln (USD 1.28 bln).
In terms of production, Voestalpine Group’s crude steel output totaled 7.2 mln tons in FY 2022/23, down from 7.83 mln tons in the previous fiscal year.
The steel division, which produces hot rolled steel, cold rolled steel, and heavy plates, shipped 4.735 mln tons compared to 4.87 mln tons in the previous year. The metal engineering division, offering billets, rails, wire rod, and seamless tubes, sold 1.495 mln tons, slightly higher than the 1.488 mln tons in the previous year. The high-performance division, specializing in tool steel, forging, and higher-grade steel products, shipped 547,317 tons, down from 591,287 tons in FY 2021/22.
Looking ahead to FY 2023/24, Voestalpine AG’s Management Board anticipates generating an EBITDA between EUR 1.7-1.9 bln (USD 1.82-2 bln), contingent on the absence of major economic disruptions or further escalation of the Ukraine conflict and geopolitical tensions.
1 USD / 0.93 EUR
