Voestalpine Returns to Momentum as Nine-Month Results Signal Improving Profitability

Key figures at a glance:
- EBITDA: €1.0 billion, up 7.2%
- EBIT: €473 million, up 20.9%
- Profit before tax: €372 million, up 46.5%
- Free cash flow: €345 million, clearly positive
- Net debt: €1.4 billion, down 27.4%
- Gearing ratio: improved from 26.2% to 18.7%

Restructuring shows tangible results
The extensive reorganisational program is delivering results. In the High Performance Metals division, portfolio cleansing is largely complete, encompassing the sale of Buderus Edelstahl in Wetzlar, site consolidation initiatives, and the recently announced sale of voestalpine BÖHLER Profil to Kadant. Headcount was reduced by 3.8% to 48,700 full-time equivalents.

Should investors sell immediately? Or is it worth buying Voestalpine?

In Germany, Automotive Components continues its planned adjustments in response to persistently weak demand across the European automobile market. By contrast, Railway Systems, Aerospace, and Material Handling are benefiting from consistently solid demand.

Decarbonisation on track
The greentec steel transformation project, aimed at transitioning to CO2-light steel production and backed by roughly €1.5 billion of investment, remains on budget and on schedule. This initiative is a key signal of the company’s long-term competitive positioning.

Management reiterated its full-year guidance, expecting an EBITDA range of €1.4 billion to €1.55 billion for fiscal year 2025/26. With nine-month results at €1.0 billion, the goal appears attainable.