Voestalpine Ag · VIE:VOE
Voestalpine — Q1 2026/27 Earnings Presentation
22 slides from Voestalpine's earnings presentation, Aug 5, 2026
Slide 1: Q1 2026/27 Analyst & Investor Meeting, August 5, 2026
Q1 2026/27 Analyst & Investor Meeting, August 5, 2026 voestalpine AG www.voestalpine.com
Slide 2: Solid earnings and free cash flow in an environment of significant uncertainty
Solid earnings and free cash flow Disciplined reorganization and in an environment characterized portfolio optimization, by significant uncertainty, completion of the sale of supported by a robust strategy BÖHLER Profil Continued strong momentum Construction, mechanical in Railway Systems and engine
Slide 3: Regional economic conditions: Europe, North America, Asia, South America
Europe Weak economic North America / USA momentum, trade policy Economy continues to grow, opportunities Asia / China with private consumption and Positive economic performance, AI investments as a key driver 65%** growth driven by exports, with the domestic economy showing limited 14% of revenue* d
Slide 4: Local-for-local strategy successfully continued
LOCAL-FOR-LOCAL STRATEGY SUCCESSFULLY CONTINUED Expansion of truck frame Railway Systems major order production in Indiana, USA and expansion » Manufacturing of high- » Rail Baltica: 470m€ quality truck frames » Expansion of production » Long-term contracts with in Ontario: established OEMs » Long-t
Slide 5: greentec steel according to plan
greentec steel ACCORDING TO PLAN from One electric arc furnace (EAF) in both Linz 2027 and Donawitz 1.5 bn€ investment on time & on budget by 30% reduction in CO2 emissions* 2029 Replacement of another blast from furnace at each of the sites in Linz 2030 and Donawitz (50%* of CO2 emissions) by 2050
Slide 6: greentec steel in Donawitz
greentec steel in Donawitz April Ramp-up of EAF—expansion phase 1 2027 From Replacement of first blast furnace. 2027 EAF—start of expansion phase 2* Investment volume: 100 m€ 2030 Shut down of second blast furnace and sintering plant From Complete conversion to electric steel 2030 production Reducti
Slide 7: Development of the divisions
DEVELOPMENT OF THE DIVISIONS 7 | 08/05/2026 | Investor Relations
Slide 8: Steel Division
STEEL DIVISION Q1 BY 2026/27 1,531 REVENUE Q1 BY 2026/27 » Business development 1,530 Q4 2025/26 » Resilient Q1 performance supported by strong premium positioning » Subdued demand from construction, mechanical engineering, and energy industries » Stable deliveries to automotive industry, driven by
Slide 9: High Performance Metals Division
HIGH PERFORMANCE METALS DIVISION Q1 BY 2026/27 742 REVENUE » Business development Q1 BY 2026/27 745 » Stable but subdued tooling markets in Europe and North America; Q4 2025/26 solid demand in China and slightly improved demand in South America » Medtech, food & beverage and mining showed solid dema
Slide 10: Metal Engineering Division
METAL ENGINEERING DIVISION Q1 BY 2026/27 1,048 REVENUE » Business development Q1 BY 2026/27 966 » Stable performance driven by the continuously robust Railway Q4 2025/26 Systems business » Mixed development in Industrial Systems business units: » Tubulars significantly impacted by U.S. tariffs, proj
Slide 11: Metal Engineering Division: Business Unit Railway Systems
METAL ENGINEERING DIVISION BUSINESS UNIT RAILWAY SYSTEMS Q1 BY 2026/27 583 REVENUE Q1 BY 2026/27 488 Q4 2025/26 » voestalpine Railway Systems is a leading global provider of integrated railway infrastructure solutions covering track systems, turnout systems, fixations, signaling, digital monitoring
Slide 12: Metal Forming Division
METAL FORMING DIVISION Q1 BY 2026/27 809 REVENUE Q1 BY 2026/27 » Business development 805 Q4 2025/26 » Automotive Components continued to face a challenging market environment, while reorganization measures remained a strategic priority » Tubes & Sections confronted with challenging market environme
Slide 13: Q1 2026/27 Financial Overview
Q1 2026/27 FINANCIAL OVERVIEW 13 | 08/05/2026 | Investor Relations
Slide 14: Financial Overview
FINANCIAL OVERVIEW Comments on delta YoY: Q1 2025/26 Q1 2026/27 Delta Revenue in % » Increases in Steel Division, High Performance Metals Revenue 3.902 3.994 2,4 Division and Metal Forming Division, slight decrease in Metal Engineering Division EBITDA 361 495 37,0 Operational results EBITDA margin 9
Slide 15: YoY Development EBITDA
YoY DEVELOPMENT EBITDA Key financial metrics above 59 prior-year level 28 6 41 Price / Raw Materials » Increase in gross margin due to better prices and lower raw material costs 495 Miscellaneous 361 » Positive one-off effect from the sale of BÖHLER Profil » Continued reorganization measures in the
Slide 16: YoY Development EBITDA Divisions
YoY DEVELOPMENT EBITDA DIVISIONS Steel Division 114 11 495 » Increase in gross margin due to higher revenues and lower costs -11 -9 361 29 High Performance Metals Division » EBITDA for Q1 2026/27 includes approx. 100 m€ in net positive one-off effects Metal Engineering Division » Robust development
Slide 17: Cash Flow on High Level
CASH FLOW ON HIGH LEVEL Q1 2025/26 Q1 2026/27 » Solid earnings performance Cash flow from results 363 300 supports positive operating cash flow Changes in net working capital 81 44 » Further reduction of net working Cash flow from operating 444 344 capital activities » Cash flow from investing activ
Slide 18: Solid Balance Sheet Structure Provides Flexibility
SOLID BALANCE SHEET STRUCTURE PROVIDES FLEXIBILITY 3.775 3.221 Solid equity base 3.125 2.978 3.080 2.995 as of 2026/06/30: 67% 2.743 58% 2.291 » Equity: 8.0 bn€ 54% 53% 47% » Equity ratio: 51 % 46% 49% 1.661 1.651 1.650 1.264 32% 1.038 Low debt level 22% 22% 22% as of 2026/06/30: 16% 13% » Gearing r
Slide 19: Outlook
OUTLOOK 19 | 08/05/2026 | Investor Relations
Slide 20: Outlook
OUTLOOK » Outlook unchanged despite ongoing geopolitical and trade-related uncertainties. Consistent execution of our strategy supports resilience » European steel market conditions expected to improve, supported by CBAM, new EU safeguard measures and a gradually normalizing inventory situation » Po
Slide 21: Q&A Analyst & Investor Meeting Q1 BY 2026/27
Q&A Analyst & Investor Meeting Q1 BY 2026/27 voestalpine AG www.voestalpine.com
Slide 22: Investor Relations
INVESTOR RELATIONS Dino Malkic Gerald Resch T. +43/50304/15-2558 T. +43/50304/15-3152 dino.malkic@voestalpine.com gerald.resch@voestalpine.com voestalpine AG www.voestalpine.com