The company maintained its EBITDA guidance for fiscal year 2026/27 while continuing to generate strong free cash flow, reduce net financial debt, and advance capacity expansion projects in the US and Canada.
For the first quarter covering the period from April 1 to June 30, 2026, voestalpine reported revenue of EUR 4.0 billion, up from EUR 3.9 billion in the same period last year. EBITDA increased from EUR 361 million to EUR 495 million, while operating profit (EBIT) rose by 78.8% year on year from EUR 172 million to EUR 307 million. The company noted that profitability was affected by approximately EUR 100 million in one-off positive and negative effects.
Profit before tax increased from EUR 139 million to EUR 279 million, while net profit rose from EUR 106 million to EUR 196 million. Free cash flow reached EUR 224 million in the first quarter, including a one-off positive impact of around EUR 150 million from the sale of voestalpine BÖHLER Profil.
Net financial debt declines
As of June 30, 2026, net financial debt fell by 28.7% year on year to EUR 1.0 billion. Compared with the end of March 2026, net debt declined by 17.9%. During the same period, equity increased to EUR 8.0 billion, while the net debt-to-equity ratio improved to 12.9%.
The company's global full-time workforce declined by 1.8% to 48,640 employees as part of its restructuring program, mainly due to restructuring measures in the High Performance Metals and Metal Forming divisions.
Capacity expansion continues in the US and Canada
Under its "local-for-local" strategy, voestalpine continues to accelerate investments in North America.
At its Jeffersonville facility in Indiana, the company has doubled its production capacity for premium welded hollow sections through an investment of approximately EUR 70 million (USD 80 million). Full-capacity production is expected to begin in mid-2027, creating around 110 new jobs.
In Canada, voestalpine Railway Systems signed a long-term supply agreement with Canadian National (CN) and is constructing a new facility in Thorold, Ontario, to manufacture railway switches and rail components. The investment is expected to create approximately 30 additional jobs.
Greentec steel program progresses as planned
The company said its greentec steel program, aimed at transitioning to low-carbon steel production, continues according to schedule.
Electric arc furnaces (EAFs) under construction in Linz and Donawitz are expected to begin operations in the first half of 2027, with both projects progressing on schedule and within budget. In addition, voestalpine approved a further investment of around EUR 100 million at its Donawitz site.
The investment will strengthen the electrical infrastructure, add a third secondary metallurgy line, and expand scrap logistics. Once completed, the Donawitz plant is expected to transition to fully electric steel production from 2030 onwards.
Rail Baltica and aerospace segment stand out
The company said its railway systems business maintained strong momentum during the first quarter, securing its largest-ever single order through the EUR 470 million Rail Baltica high-speed railway project.
Demand from the aerospace sector remained strong, while demand from the construction, machinery, and consumer goods sectors stabilized at low levels. The energy sector continued to be affected by global uncertainties. Despite weak conditions in the European automotive market, the Steel Division increased its market share thanks to its product quality, delivery reliability, and logistics capabilities.
voestalpine management noted that geopolitical risks, developments in the Middle East, energy prices, and regulatory uncertainties between Europe and North America continue to pose challenges. However, the company emphasized that its diversified business model enables it to remain resilient under these conditions.
Based on the current market outlook, voestalpine reaffirmed its fiscal year 2026/27 EBITDA guidance in the range of EUR 1.60 billion to EUR 1.85 billion.
Commenting on the results, voestalpine CEO Herbert Eibensteiner said:
"While continuing to restructure our low-margin businesses in a challenging environment shaped by external factors, we are also accelerating our international growth projects. Our strong strategy and solid capital structure provide an important foundation for our future."
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