December 25, 2014 11:59 AM ET

Metals and Mining

Company Overview of voestalpine Edelstahl GmbH

Company Overview

voestalpine Edelstahl GmbH manufactures tool steels and other specialty steels. It offers high-performance metals, including tool steels, high-speed steels, valve steels, special engineering steels, powder-metallurgy steels, special grades, nickel-based alloys and high-alloyed steels, and cold rolled and hot rolled strip steels; closed die forgings; and special forgings. The company provides warehousing, machining, heat treatment, coating, applications consulting, and other services. It serves automotive branches, energy generation sectors, the oil and gas industry, machinery manufacturers, consumer goods producers, aircraft manufacturers, and other selected industry segments through its sal...

Modecenterstrasse 14/A/3

Vienna,  1030

Austria

Founded in 1991

15,451 Employees

Phone:

43 50304 10 0

Fax:

43 50304 50 0

Key Executives for voestalpine Edelstahl GmbH

Head of Corporate Communications
Chairman of the Management Board
Age: 57
Member of Management Board
Age: 51
Member of Management Board
Age: 56
Member of Management Board
Age: 43
Compensation as of Fiscal Year 2014.

voestalpine Edelstahl GmbH Key Developments

Voestalpine Group Announces Earnings Results for the First Half of Fiscal 2015

voestalpine Group announced earnings results for the first half of fiscal 2015. For the period, at -1.5%, the company's revenue was down slightly, from EUR 5.64 billion to EUR 5.56 billion. This is the result of the closure of standard rail production in Duisburg as of the end of 2013, the resulting decrease in the Metal Engineering Division's delivery volumes, and again a weaker price level in a series of business segments, the consequence of continued falling raw materials and pre-material costs. The significantly higher operating result (EBITDA), up by 11.2% to EUR 757 million, includes non-recurring effects in the Metal Forming Division totaling EUR 66.5 million (including effects relating to the sale of the Flamco Group and the agreement to sell the Plastics Solutions business segment). Adjusted for these non-recurring effects, EBITDA rose by 1.5%, from EUR 680 million in the previous year to EUR 690 million; as a result the (adjusted) EBITDA margin went up from 12.1 to 12.4%. The (unadjusted) profit from operations (EBIT) rose by 12.2%, from EUR 396 million to EUR 445 million. Adjusted by the non-recurring effect of EUR 45.2 million, EBIT came to EUR 400 million in the first half of 2014/15, corresponding to an increase of almost 1%. The adjusted EBIT margin was therefore at 7.2% (previous year: 7.0%). Profit before tax improved even more substantially, with an increase of 25.5% to EUR 392 million (from EUR 312 million). Even after deduction of the non-recurring effect of EUR 45.2 million, profit before tax in the first six months of the current business year was still EUR 347 million, or 11% above the previous year's figure. Profit for the period rose by 36%, going from EUR 238 million to EUR 324 million. Without taking the non-recurring effects (EUR 43.4 million) into account, the adjusted profit for the period is EUR 281 million, also a considerable improvement of around 18% over the previous year. This positive development is primarily the result of the lower financing costs. Earnings per share were EUR 1.65, a rise of +43.5% compared to the previous year's figure of EUR 1.15 (adjusted earnings per share: EUR 1.40). As of September 30, 2014, equity fell year-to-year by 2.6%, from EUR 5.1 billion to EUR 4.9 billion. Compared to the reporting date of March 31, 2014 (EUR 5.3 billion), equity fell by 6.3%. This decline is largely due to reclassification of the hybrid bond 2007 called in September 2014 (EUR 500 million) from equity to borrowed capital. As a result, net financial debt went up year-to-year by 22.4%, from EUR 2.4 billion (adjusted retroactively) to EUR 2.9 billion. Compared to the reporting date of March 31, 2014 (EUR 2.4 billion, adjusted retroactively), there was an increase of 19.7%.

voestalpine Edelstahl GmbH Announces New Appointments

Peter Schwab, new Member of the Management Board and new Head of the Metal Forming Division. Herbert Eibensteiner, Member of the Management Board and new Head of the Steel Division. In order to meet the demands of the Group’s consistent internationalization process and rapid growth, voestalpine AG is expanding its Management Board from five to six members as of October 1, 2014. The newest Management Board member will be Peter Schwab, previously Head of Research & Development for the entire Group, who will take over management of the Metal Forming Division. Earlier, this division was headed by Herbert Eibensteiner, who will now take over as Head of the Steel Division. Wolfgang Eder, who has headed this division since 1999 in addition to his role as CEO, will be concentrating on his position as Chairman of the Management Board of voestalpine AG and the continuing internationalization and further strategic development of the Group in its entirety. Dr. Wolfgang Eder, CEO and Chairman of the Management Board; Dipl.-Ing. Mag. Robert Ottel, CFO; Dipl.-Ing. Herbert Eibensteiner, Steel Division; Dipl.-Ing. Dr. Franz Kainersdorfer, Metal Engineering Division; Dipl.-Ing. Franz Rotter, Special Steel Division; Dipl.-Ing. Dr. Peter Schwab, Metal Forming Division; The terms of office of all six Management Board members shall run until March 31, 2019.

Voestalpine Edelstahl GmbH Announces Earnings Results for the First Quarter Ended June 30, 2014

Voestalpine Edelstahl GmbH announced earnings results for the first quarter ended June 30, 2014. For the quarter, the company’s revenue is at EUR 2.83 billion against EUR 2.9 billion a year ago. At EUR 364 million, operating result (EBITDA) was precisely at the previous year’s level. At EUR 218 million, profit from operations (EBIT) slightly below previous year’s figure of EUR 222 million. In a year-to-year comparison, both profit before tax (EUR 193 million) and profit for the period (EUR 154 million) see substantial gains (+10.2% and +12.2% respectively). Earnings per share go up by 13.2% from EUR 0.68 to EUR 0.77. The slight decline in sales by 2.4% in comparison to the previous year is largely due to lower pre-material costs and structural changes within the Metal Engineering Division (closure of standard rail production in Duisburg). In a year-to-year comparison, the operating result (EBITDA) was constant, with the previous year’s figure of EUR 363.5 million being surpassed by EUR 0.2 million Therefore, based on the current figure of EUR 363.7 million. Due to increased depreciation and amortization, profit from operations (EBIT) declined slightly; at EUR 218.4 million, it is EUR 4 million below the previous year’s figure of EUR 222 million. As a result of a drop in gross debt, combined with lower financing costs and a more favorable development of invested liquidity reserves, profit before tax increased significantly to EUR 193 million in the first quarter of the fiscal year 2015, compared to EUR 175 million in the first quarter of the previous year, a plus of more than 10%. Due to a slightly lower tax rate, profit for the period grew by 12.2% to currently EUR 154 million against EUR 138 million a year ago. In a year-to-year comparison, earnings per share rose by 13.2%, going from EUR 0.68 to EUR 0.77. Net financial debt increased in a year-to-year comparison by 7.1% to EUR 2.4 billion.

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Bertelsmann AG Europe
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact voestalpine Edelstahl GmbH, please visit www.voestalpine.com/edelstahl. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.