Voestalpine Ag · VIE:VOE
Voestalpine — Q3 2026 Earnings Presentation
22 slides from Voestalpine's earnings presentation, Feb 11, 2026
Slide 1: Q1 – Q3 2025/26 Analyst & Investor Meeting
Q1 – Q3 2025/26 Analyst & Investor Meeting, February 11, 2026 voestalpine AG www.voestalpine.com
Slide 2: voestalpine in Brief
voestalpine IN BRIEF » voestalpine is a global special metals, steel, and industrial group » We combine STEEL & METALS PRODUCTION with PROCESSING & ENGINEERING COMPETENCE » From this unique pool of expertise, we develop innovative solutions that offer our customers competitive advantages » That make
Slide 3: Global Economic Environment
FIRST NINE MONTHS OF BUSINESS YEAR 2025/26 GLOBAL ECONOMIC ENVIRONMENT Europe Subdued economic development, North America / USA slight upturn in industrial production Robust economic growth, recently primarily driven by high investments in tech sector Asia / China Stable economic development, growth
Slide 4: Highlights
HIGHLIGHTS HIGHLIGHTS » Very solid results in the first 9 months of 2025/26 in a challenging environment » Satisfying results in the third quarter of 2025/26 in a challenging environment » Strong financial position » Strong financial power » Continued strong cash flow development » Continued strong
Slide 5: Strategic Focus
STRATEGIC FOCUS Consistent reorganization and portfolio optimization, focus on efficiency » Reorganization of Automotive Components sites worldwide » Portfolio optimization in the HPM Division (i.a. sale of voestalpine BÖHLER Profil in Jan 2026) Growth in attractive downstream business areas » e.g.
Slide 6: Highlights Q1-Q3 2025/26
HIGHLIGHTS Q1-Q3 2025/26 6 | 02/11/2026 | Investor Relations
Slide 7: Railway Systems, Warehouse and Rack Solutions, Focus India
Railway Systems: Austrian Warehouse and Rack tunnel project „Koralmbahn“ Solutions: » 35 km long tunnel, 290 km premium rails, 235 turnouts and » Current flagship projects digital monitoring systems worldwide in Turkey, Great Britain, and Czech Republic » Numerous other international railway infrast
Slide 8: Divisions Q1-Q3 2025/26
DIVISIONS Q1-Q3 2025/26 8 | 02/11/2026 | Investor Relations
Slide 9: Steel Division
STEEL DIVISION 4,200 Q1-Q3 2025/26 REVENUE Q1-Q3 2025/26 1,494 1,383 1,323 » Strong performance of voestalpine Steel Division in weak Q1 2025/26 | Q2 2025/26 | Q3 2025/26 economic environment » Continued robust demand from automotive and energy sector 575 13.7% EBITDA » Other markets remained stable
Slide 10: High Performance Metals Division
HIGH PERFORMANCE METALS DIVISION Q1-Q3 2025/26 2,005 REVENUE Q1-Q3 2025/26 » Persistent uncertain market conditions and weak economy 679 669 657 Q1 2025/26 | Q2 2025/26 | Q3 2025/26 in Europe » Intense global competition in the segments Tooling and Industrials 152 7.6% » Segment Oil & Gas impacted b
Slide 11: Metal Engineering Division
METAL ENGINEERING DIVISION Q1-Q3 2025/26 3,089 REVENUE » Railway Systems continued positive performance, typical Q1-Q3 2025/26 1,087 1,018 984 seasonal effects in winter months Q1 2025/26 | Q2 2025/26 | Q3 2025/26 » Industrial Systems show a diverging performance 269 8.7% » Welding overall stable on
Slide 12: Metal Engineering Division Business Unit Railway Systems
METAL ENGINEERING DIVISION BUSINESS UNIT RAILWAY SYSTEMS 1,700 Q1-Q3 2025/26 REVENUE Q1-Q3 2025/26 voestalpine Railway Systems is a key driver of our long-term growth 581 573 546 Q1 2025/26 | Q2 2025/26 | Q3 2025/26 strategy. The business unit is a global full-service provider of solutions for railw
Slide 13: Metal Forming Division
METAL FORMING DIVISION Q1-Q3 2025/26 2,225 REVENUE Q1-Q3 2025/26 » Automotive Components 764 741 720 Q1 2025/26 | Q2 2025/26 | Q3 2025/26 » Weak car production numbers in Europe » US-tariffs weigh on the North American market » Reorganization projects in implementation according to plan 139 6,3% EBI
Slide 14: Financial Overview Q1-Q3 2025/26
FINANCIAL OVERVIEW Q1-Q3 2025/26 14 | 02/11/2026 | Investor Relations
Slide 15: Financial Overview
Comments on Delta y-o-y: Q1-Q3 Q1-Q3 Delta » Revenue 2024/25 2025/26 % » Revenue declined in all divisions 2024/04/01- 2025/04/01- » Drop of 220 m€ due to divestment of 2024/12/31 2025/12/31 Buderus Edelstahl in 2024/25 Revenue 11,741.5 11,138.9 -5.1 » Operational results » Increased results in Stee
Slide 16: YoY Development EBITDA Q1-Q3 2025/26
73 134 » Price vs. Raw Materials 279 » Price declines only partially 1038 compensated by reductions in raw material costs » Mix / Volume 968 -416 » Strong volume gains in Steel Division » Lower shipments in High Performance EBITDA EBITDA Metals Division margin margin 8.2 % 9.3 % » Miscellaneous » Po
Slide 17: YoY Development EBITDA Q1-Q3 2025/26 by Division
Steel Division 94 50 21 1038 » Higher volumes and lower raw material 968 costs more than compensated weaker price levels -79 -16 HPM Division » Lower volumes offset by cost-cutting measures and portfolio optimization EBITDA EBITDA- EBITDA- EBITDA (divestment of Buderus Edelstahl c. 80 m€) margin mar
Slide 18: High Free Cash Flow Generation
Q1-Q3 2024/25 Q1-Q3 2025/26 2024/04/01- 2025/04/01- High cash flow from operations based 2024/12/31 2025/12/31 on improved operating results, Cash flow from results 621 873 improved interest payments and lower tax payments Changes in net working capital 97 228 Continued focus on working capital opti
Slide 19: Solid Balance Sheet Structure
3.775 3.221 3.125 2.978 3.080 2.995 67% 2.743 Solid equity base 58% 2.291 as of 2025/12/31: 54% 53% 47% 49% » Equity: 7.6 bn EUR 46% 1.661 1.651 1.650 » Equity ratio: 50 % 1.423 32% 22% 22% Low debt level 22% 19% as of 2025/12/31: » Gearing ratio: 19 % » Net debt / EBITDA: 1.0 2014/15 2015/16 2016/1
Slide 20: Outlook by 2025/26
OUTLOOK BY 2025/26 20 | 02/11/2026 | Investor Relations
Slide 21: Outlook BY 2025/26
OUTLOOK BY 2025/26 » The global economy has largely adapted to the changed conditions after the economic repositioning of the US » Previous trends expected to continue in fiscal year 2025/26: » Automotive industry remains at current level » Construction, mechanical engineering, and consumer goods in
Slide 22: Q&A Investor and Analyst Meeting Q1-Q3 2025/26
Q&A Investor and Analyst Meeting Q1-Q3 2025/26 voestalpine AG www.voestalpine.com