Austrian steelmaker Voestalpine AG has announced its financial results for the first quarter ended June 30 of the financial year 2023-24.
The company posted a net profit of €218 million for the first quarter, compared to a net profit of €615 million recorded in the same quarter of the previous financial year. In the first quarter, the revenues of the company amounted to €4.4 billion, down 4.3 percent year on year. In the given period, the company’s EBITDA was €505 million, decreasing by 42.5 percent year on year.
Voestalpine stated that it achieved a good first quarter performance in 2023-24 following the company’s best quarterly performance in its history in the same quarter of the previous year.
Assuming that the global economy will not be hit by massive economic distortions on account of central banks’ interest rate polices and that there will be no additional geopolitical tensions, the company expects its EBITDA to be between €1.7 billion and €1.9 billion in the business year 2023-24.