Austrian steelmaker voestalpine AG has announced its financial results for the financial year 2015-16.
Accordingly, voestalpine's net profit in the given year increased to €602 million, up 1.2 percent compared to the previous financial year. The revenues of the company amounted to €11.07 billion, down 1.1 percent year on year. In the given period, the company's EBITDA was €1.58 billion, increasing by 3.5 percent year on year, while the adjusted EBITDA margin was unchanged at 13.1 percent, both compared to the previous year.
The company stated that, in the short term, an improvement of the global economic situation seems unlikely. There are, however, indications that the economic situation will recover somewhat in the course of the year. For this to occur, it is necessary for raw material prices to stabilize and for the global foreign exchange system to remain stable. The continuing strong performance of the automotive industry as well as of the railway and aerospace sectors is definitely a positive factor. In addition, according to the company, thanks to its focus on technology and growth-intensive industries, especially in the mobility sector, it anticipates that an operating result and profit from operations that at least approximates the figures of the last business year will be possible.