voestalpine stock slips as EBITDA outlook ceiling is cut
Published on 11/13/2026 at 11:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSEarnings rise, outlook narrows
- First-half EBITDA advanced strongly, while revenue stayed close to the prior-year level.
- Management lowered the top end of its full-year EBITDA forecast because of energy, logistics and tariff pressures.
- greentec steel remains on schedule, with electric arc furnaces planned to start in the first half of 2027.
voestalpine reported solid first-half results on Wednesday, November 11, but lowered the upper end of its full-year earnings outlook. The company said revenue for the April-to-September 2026 period was 7.7 billion euros, while EBITDA rose 17.1 percent to 846 million euros. The figures come from the company’s press release.
Operating profit increased 36 percent to 470 million euros. Profit before tax rose 46.5 percent to 408 million euros, while profit after tax reached 290 million euros, up 46.1 percent from the prior-year period. The company also reported positive free cash flow of 24 million euros, including a one-off effect of approximately 150 million euros from the sale of voestalpine BÖHLER Profil.
Guidance ceiling comes down
Management now expects full-year 2026/27 EBITDA of 1.60 billion to 1.70 billion euros, compared with the previous range of 1.60 billion to 1.85 billion euros. The lower end was unchanged, but the company cut the top end as the prolonged war in the Middle East raised energy and logistics costs. Postponed energy projects, logistical challenges and temporary additional US tariffs are also expected to weigh on earnings in the second half.
The forecast includes net positive one-off effects of around 100 million euros recognized in the first quarter. The corresponding EBIT outlook is 830 million to 930 million euros. Chief Executive Herbert Eibensteiner said the group remained confident in its strategy and financial position despite the pressure on second-half earnings potential.
Industrial demand remains uneven
Voestalpine said Railway Systems continued to benefit from infrastructure projects in Europe and international rail projects. Aerospace demand also remained supportive, while the Steel Division saw generally satisfactory automotive demand. Automotive Components faced tougher conditions in Europe, China and North America, and demand from construction, mechanical engineering and consumer goods remained subdued.
The company said its reorganization of structurally challenged businesses was almost complete and was increasingly producing positive effects. Its greentec steel program remains on schedule and on budget, with electric arc furnaces in Linz and Donawitz planned to begin operating in the first half of 2027.
Share trades below prior Xetra close
voestalpine stock traded at 37.30 euros on Lang & Schwarz at 11:40 CET on Friday, November 13, 2026, 1.53 percent below the Xetra close of Thursday, November 12. The comparison uses the prior Xetra session because the current session had not reached the 17:35 Berlin threshold.
voestalpine AG at a glance
- Company: voestalpine AG
- ISIN: AT0000937503
- Ticker: VAS.DE
- Home exchange: Vienna Stock Exchange
- Lang & Schwarz price: 37.30 euros at 11:40 CET on November 13, 2026
- Change versus Xetra: 1.53 percent below the November 12, 2026 close of 37.88 euros
Investors will focus on whether cost pressure and tariffs erode the stronger first-half operating performance during the second half. The next major operational milestone is the planned start-up of the greentec steel electric arc furnaces in the first half of 2027.
European equities remain sensitive to energy costs, industrial demand and geopolitical developments; the DAX market environment provides the broader regional reference.
More news and analyses on voestalpine stock.
