Voestalpine Ag · VIE:VOE
Voestalpine — H1 2023/24 Earnings Presentation
19 slides from Voestalpine's earnings presentation, November 2023
Slide 1: Business Year 2023/24 2nd Quarter, 1st Half
BUSINESS YEAR 2023/24 2 QUARTER, 1 HALF nd st Investor Relations November 2023 voestalpine AG www.voestalpine.com
Slide 2: voestalpine Group Highlights H1 BY 2023/24
voestalpine GROUP HIGHLIGHTS H1 BY 2023/24 » Fiscal tightening increasingly affects the European economy in course of H1 2023/24 » Declining industrial investments, lower consumer spending, downward trend also in the service sector » Weakening demand for voestalpine products from construction, mecha
Slide 3: Development of Divisions
DEVELOPMENT OF DIVISIONS voestalpine AG 3 | November 2023 | Investor Relations
Slide 4: Steel Division Business Development
STEEL DIVISION BUSINESS DEVELOPMENT » Steel Division with very solid performance in H1 2023/24 in an overall difficult steel environment » Construction, machine building, and household appliance industries affected by economic slowdown » Positive demand development in automotive sector » Good projec
Slide 5: Steel Division Financial Figures
STEEL DIVISION FINANCIAL FIGURES H1 BY 2023/24 Q1 Q2 H1 H1 Delta €m 23/24 23/24 23/24 22/23 in % Revenue 1,644 1,485 3,128 3,438 -9.0 EBITDA 174 181 355 796 -55.4 EBITDA-% 10.6% 12.2% 11.4% 23.2% EBIT 110 117 227 666 -66.0 EBIT-% 6.7% 7.9% 7.2% 19.4% voestalpine AG 5 | November 2023 | Investor Relat
Slide 6: High Performance Metals Division Business Development
HIGH PERFORMANCE METALS DIVISION BUSINESS DEVELOPMENT » Weakening situation in tool steel business throughout H1 2023/24 » Low demand and marked price pressure for standardized products due to high imports » High-quality tool steel less affected from imports » Continuation of positive trend in speci
Slide 7: High Performance Metals Division Financial Figures
HIGH PERFORMANCE METALS DIVISION FINANCIAL FIGURES H1 BY 2023/24 Q1 Q2 H1 H1 Delta €m 23/24 23/24 23/24 22/23 in % Revenue 934 853 1,788 1,880 -4.9 EBITDA 96 47 143 247 -42.0 EBITDA-% 10.3% 5.5% 8.0% 13.1% EBIT 55 4 59 -4 EBIT-% 5.9% 0.5% 3.3% -0.2% voestalpine AG 7 | November 2023 | Investor Relati
Slide 8: Metal Engineering Division Business Development
METAL ENGINEERING DIVISION BUSINESS DEVELOPMENT » Very positive development of Railway Systems business in H1 2023/24 » Good project landscape in turnouts segment globally. Currently no new high-speed projects in China, but solid demand from maintenance business » Strong demand in for rails in Europ
Slide 9: Metal Engineering Division Financial Figures
METAL ENGINEERING DIVISION FINANCIAL FIGURES H1 BY 2023/24 Q1 Q2 H1 H1 Delta €m 23/24 23/24 23/24 22/23 in % Revenue 1,144 1,070 2,215 2,118 +4.6 EBITDA 182 133 315 242 +30.4 EBITDA-% 15.9% 12.4% 14.2% 11.4% EBIT 138 85 223 154 +45.3 EBIT-% 12.1% 7.9% 10.1% 7.2% voestalpine AG 9 | November 2023 | In
Slide 10: Metal Forming Division Business Development
METAL FORMING DIVISION BUSINESS DEVELOPMENT » Improvement in Automotive Components business in H1 2023/24 » Increasing utilization rates of European Automotive Components production sites, due to OEMs working off their high order backlog » Demand situation of North American and Chinese voestalpine s
Slide 11: Metal Forming Division Financial Figures
METAL FORMING DIVISION FINANCIAL FIGURES H1 BY 2023/24 Q1 Q2 H1 H1 Delta €m 23/24 23/24 23/24 22/23 in % Revenue 884 816 1,700 2,010 -15.4 EBITDA 81 80 161 199 -19.0 EBITDA-% 9.2% 9.8% 9.5% 9.9% EBIT 46 43 89 126 -29.5 EBIT-% 5.2% 5.3% 5.2% 6.3% voestalpine AG 11 | November 2023 | Investor Relations
Slide 12: Financial Overview
FINANCIAL OVERVIEW H1 BY 2023/24 voestalpine AG 12 | November 2023 | Investor Relations
Slide 13: voestalpine Group Financial Overview
voestalpine GROUP FINANCIAL OVERVIEW H1 BY 2022/23 H1 BY 2023/24 Delta 2022/04/01-2022/09/30 2023/04/01-2023/09/30 % Revenue 9,295 8,513 -8.4 EBITDA 1,446 915 -36.7 EBITDA margin 15.6% 10.7% EBIT 898 531 -40.9 EBIT margin 9.7% 6.2% Profit before tax 846 440 -48.1 Profit after tax from continuing ope
Slide 14: YoY Development EBITDA
voestalpine GROUP YoY DEVELOPMENT EBITDA H1 BY 2023/24 1,446 146 -299 -182 915 -196 EBITDA- margin EBITDA- 15.6 % margin 10.7 % H1 Price Raw Mix/ Misc. H1 2022/23 Materials Volume 2023/24 In millions of euros voestalpine AG 14 | November 2023 | Investor Relations
Slide 15: Development Cash Flow
voestalpine GROUP DEVELOPMENT CASH FLOW H1 BY 2022/23 H1 BY 2023/24 2022/04/01-2022/09/30 2023/04/01-2023/09/30 Cash flow from results 1,180 670 Changes in working capital -1,499 -279 Cash flow from operating activities -319 391 Cash flow from investing activities 430 -478 Free cash flow 111 -87 In
Slide 16: Development Gearing Ratio
voestalpine GROUP DEVELOPEMENT GEARING RATIO 7 769 7 825 7 069 6 710 6 554 6 060 83% 5 652 5 615 5 650 5 262 5 115 88% 5 075 4 691 4 836 4 262 67% 4 289 4 263 71% 3 762 58% 3 775 3 572 55% 3 221 58% 3 125 3 037 54% 45% 46% 2 978 3 080 2 995 2 882 2 743 2 713 2 586 53% 2 547 2 421 47% 2 259 47% 49% 2
Slide 17: Liquidity and Redemption Schedule
voestalpine GROUP LIQUIDITY AND REDEMPTION SCHEDULE Liquidity Redemption 2 322 -203 1 000 Committed lines 487 Financial assets -1 011 -214 835 Cash -502 H1 BY 2023/24 2023/24 2024/25 2025/26 2026/27 In millions of euros voestalpine AG 17 | November 2023 | Investor Relations
Slide 18: Outlook BY 2023/24
voestalpine GROUP OUTLOOK BY 2023/24 » The long-awaited economic slowdown finally arrived in some segments of voestalpine in Q2 2003/24 » The second half of BY 2023/24 is expected to be characterized by the continuation of current trends: » Ongoing stagnation of demand on subdued level from building
Slide 19: Investor Relations
INVESTOR RELATIONS Peter Fleischer Gerald Resch T. +43/50304/15-9949 T. +43/50304/15-3152 peter.fleischer@voestalpine.com gerald.resch@voestalpine.com voestalpine AG www.voestalpine.com