At EUR 12.1 billion, the voestalpine Group generated the highest revenue in the company’s history during the business year 2011/12 (1 April 2011 to 31 March 2012), thus exceeding revenue for the previous year (EUR 10.95 billion) by 10.1%. The previous record of EUR 11.7 billion was achieved during the business year 2008/09. Against the backdrop of non-recurring negative effects, the previous year’s operating result could not be attained. Both EBITDA and EBIT were negatively affected by provisions formed for the closure of rail production in Duisburg and for the anti-trust proceedings relative to railway superstructure material. The decline in earnings in the Steel Division due to the general economic situation also impacted the operating result.

During the business year 2011/12, the voestalpine Group recorded EBITDA of EUR 1,302 million and an EBITDA margin of 10.8%. Compared to the preceding year (EUR 1,606 million), this represents a drop of 18.9%. When the non-recurring effects amounting to EUR 205 million are excluded, this results in EBITDA of EUR 1,507 million and an EBITDA margin of 12.5%, a performance only slightly below that of the preceding year. Naturally, the operating results show a similar picture. When accounting for non-recurring effects, EBIT amounts to EUR 704 million, 28.5% under the level for the preceding year (EUR 985 million). However, without the impact of the non-recurring effects, EBIT was EUR 909 million, only 7.7% below the previous year’s adjusted operating result.

Key points of the latest report from voestalpine are as follows:

• Increase in revenue to EUR 12.06 billion (plus 10.1% over BY 2010/11)
• EBITDA, EBIT, and all other reporting categories adversely affected by the nonrecurring effects in the Railway Systems Division amounting to EUR 205 million
  
• Drop in EBITDA from EUR 1.6 billion to EUR 1.3 billion (minus 18.9%) – EBITDA excluding non-recurring effects EUR 1.5 billion (minus 5.6%)
  
• EBIT falls from EUR 985 million to EUR 704 million (minus 28.5%) – excluding nonrecurring effects EUR 909 million (minus 7.7%)
  
• EBIT margin falls from 9.0% to 5.8%
  
• Earnings per share of EUR 1.98, proposed dividend of EUR 0.80 per share
  
• Gearing ratio reduced from 57.8% to 53.5%
  
• Overall workforce back to pre-crisis level (46,500)
  
• Record R&D budget of EUR 132 million (plus 11.6%)
  

The voestalpine Group is a globally active steel, processing and technology group which produces, processes and further develops high-quality steel products. The Group is represented by 360 production and sales companies in more than 60 countries on five continents and has been listed on the Vienna Stock Exchange since 1995.