Ad-Hoc News regarding 1st Quarter FY 2015/16
voestalpine with boost in earnings due to special items from changes in consolidation in first quarter of Business Year 2015/16, pure operational results (adjusted by special items) significantly improved
Before the backdrop of a globally uneven economic environment with moderate growth in Europe, prolonged strong demand in North America, Asia with regionally differing business developments and Brazil continuing the downward trend, voestalpine was able to significantly improve profits in all categories in the first quarter of the business year 2015/16.
These results were driven by positive developments of all single Divisions, where the Steel Division was showing the largest relative gain in earnings.
The Special Steel Division could increase its profits as well, whereas the Metal Forming and the Metal Engineering Division were able to only slightly improve the results compared to the already very attractive levels a year earlier.
Against this backdrop, also after the completion of the first quarter, for the full business year 2015/16 a further improvement of the operating result (EBITDA) as well as profit from operations (EBIT) – each excluding special items and effects from changes in consolidation – can be anticipated.
The reported figures according to IFRS of the first quarter of the business year 2015/16 of voestalpine Group, independently from the improved operational performance, are significantly influenced by special items from changes of consolidation of two companies. The positive effects in the single earnings categories based on reassessment of the prior shares at fair value deducted by depreciation of disclosed hidden reserves for the reported quarter are: EBITDA: EUR +137.6 million; EBIT und Earnings before Tax: EUR +131.5 million; Profit for the period: EUR +137.7 million