07.04.2020,
2158 Zeichen
Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
Earnings Forecast
07.04.2020
Linz - The COVID-19 pandemic and its global effects negatively influence the
result of the 2019/20 business year of voestalpine AG, which ended on March 31,
2020, both operationally and through one-time effects. The influence of one-time
effects essentially includes write-offs due to impairments of assets and
goodwill. The impairments affect EBIT - but not EBITDA - and are the result of
the revaluation of assets, which had to be carried out in view of the changed
conditions for the 2020/21 business year and the higher discount rate (WACC -
weighted average cost of capital), both of which were due to the current COVID-
19 distortions. Since mid-March 2020, the COVID-19 pandemic has also had an
initial impact on the operational development of voestalpine AG's business year
that just ended. This is reducing both EBITDA and EBIT.
From today's perspective, the Management Board therefore expects a slightly
reduced operating result (EBITDA) in a range of more than EUR 1.1 billion
compared to the outlook last published. In view of the one-time effects, the
outlook of a just positive EBIT cannot be maintained. At present, a negative
EBIT of around EUR 135 million is expected. This may still change until the
publication of the annual financial statements, depending on necessary changes
in the discount rate due to further distortions caused by COVID-19.
The figures stated are preliminary and unaudited. The publication of the results
for the 2019/20 business year will take place on June 3, 2020.
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
ISIN: AT0000937503
indexes: WBI, ATX
stockmarkets: Wien
language: English
Digital press kit:
http://www.ots.at/pressemappe/2054/aom
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Bildnachweis
1.
Pilotanlage zur CO2-freien Herstellung von Wasserstoff hat am voestalpine-Standort in Linz; Credit: voestalpine
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