Voestalpine Ag · VIE:VOE
Voestalpine — Q3 BY 2023/24 Earnings Presentation
24 slides from Voestalpine's earnings presentation, February 2024
Slide 1: Business Year 2023/24 1st-3rd Quarter
BUSINESS YEAR 2023/24 1 –3 QUARTER st rd Investor Relations FEBRUARY 2024 voestalpine AG www.voestalpine.com
Slide 2: Current Development – Overview
voestalpine GROUP CURRENT DEVELOPMENT − OVERVIEW » High interest rates increasingly burdened the European economy over the course of BY 2023/24 » Weakening demand for voestalpine products in the construction, mechanical engineering and consumer goods sectors » Automotive production currently stable,
Slide 3: Development of Divisions
DEVELOPMENT OF DIVISIONS voestalpine AG 3 | February 2024 | Investor Relations
Slide 4: Steel Division Business Development
STEEL DIVISION BUSINESS DEVELOPMENT » Good performance of Steel Division in an overall difficult environment for the European steel industry » Subdued demand from building and construction industry, mechanical engineering and consumer goods industries » Positive sentiment in automotive and energy se
Slide 5: Steel Division Financial Figures Q1-Q3 BY 2023/24
STEEL DIVISION FINANCIAL FIGURES Q1-Q3 BY 2023/24 Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m 23/24 23/24 23/24 23/24 22/23 in % Revenue 1,644 1,485 1,375 4,503 4,941 -8.9 EBITDA 174 181 157 512 937 -45.3 EBITDA-% 10.6% 12.2% 11.4% 11.4% 19.0% EBIT 110 117 93 320 743 -56.9 EBIT-% 6.7% 7.9% 6.8% 7.1% 15.0% voestal
Slide 6: High Performance Metals Division Business Development
HIGH PERFORMANCE METALS DIVISION BUSINESS DEVELOPMENT » Globally, weak demand for tool steel due to low industrial capex spending » Restrained order intake in automotive due to low number of model shifts » Standard grade area in tool steel impacted by strong price pressure » Continued strong demand
Slide 7: High Performance Metals Division Financial Figures Q1-Q3 BY 2023/24
HIGH PERFORMANCE METALS DIVISION FINANCIAL FIGURES Q1-Q3 BY 2023/24 Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m 23/24 23/24 23/24 23/24 22/23 in % Revenue 934 853 827 2,615 2,784 -6.1 EBITDA 96 47 56 199 324 -38.5 EBITDA-% 10.3% 5.5% 6.8% 7.6% 11.6% EBIT 55 4 14 73 36 +102.8 EBIT-% 5.9% 0.5% 1.6% 2.8% 1.3% voesta
Slide 8: Metal Engineering Division Business Development
METAL ENGINEERING DIVISION BUSINESS DEVELOPMENT » Very good development in Railway Systems business » High demand for rails, particularly from European core markets » Good market situation for turnout systems in Europe, North- and South America, somewhat lower demand in Asia » Mixed picture in Indus
Slide 9: Metal Engineering Division Financial Figures Q1-Q3 BY 2023/24
METAL ENGINEERING DIVISION FINANCIAL FIGURES Q1-Q3 BY 2023/24 Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m 23/24 23/24 23/24 23/24 22/23 in % +1.4 Revenue 1,144 1,070 1,026 3,241 3,195 EBITDA 182 133 128 443 410 +8.2 EBITDA-% 15.9% 12.4% 12.5% 13.7% 12.8% EBIT 138 85 87 310 271 +14.4 EBIT-% 12.1% 7.9% 8.5% 9.6% 8.
Slide 10: Business Development
voestalpine GROUP BUSINESS DEVELOPMENT » Automotive Components business improved somewhat year-on-year » Solid development in the Tubes & Sections business » Slowing momentum in Europe in construction, agricultural and construction machinery sectors » Unchanged positive market development in commerc
Slide 11: Metal Forming Division Financial Figures
METAL FORMING DIVISION FINANCIAL FIGURES H1 BY 2023/24 Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m 23/24 23/24 23/24 23/24 22/23 in % Revenue 884 816 790 2,490 2,921 -14.7 EBITDA 81 80 58 220 279 -21.2 EBITDA-% 9.2% 9.8% 7.4% 8.8% 9.5% EBIT 46 43 23 112 170 -34.3 EBIT-% 5.2% 5.3% 2.9% 4.5% 5.8% voestalpine AG 11
Slide 12: Financial Overview Q1-Q3 BY 2023/24
FINANCIAL OVERVIEW Q1-Q3 BY 2023/24 voestalpine AG 12 | February 2024 | Investor Relations
Slide 13: Financial Overview
voestalpine GROUP FINANCIAL OVERVIEW Q1-Q3 BY 2022/23 Q1-Q3 BY 2023/24 Delta 2022/04/01-2022/12/31 2023/04/01-2023/12/31 % Revenue 13,585 12,388 -8.8 EBITDA 1,879 1,283 -31.7 EBITDA margin 13.8% 10.4% EBIT 1,140 713 -37.4 EBIT margin 8.4% 5.8% Profit before tax 1,053 575 -45.4 Profit after tax from
Slide 14: YoY Development EBITDA
voestalpine GROUP YoY DEVELOPMENT EBITDA H1 BY 2023/24 1,879 301 -126 1,283 -551 -220 EBITDA- margin EBITDA- 13.8 % margin 10.4 % Q1-Q3 Price Raw Mix/ Misc. Q1-Q3 2022/23 Materials Volume 2023/24 In millions of euros voestalpine AG 14 | February 2024 | Investor Relations
Slide 15: Development Cash Flow
voestalpine GROUP DEVELOPMENT CASH FLOW Q1-Q3 BY 2022/23 Q1-Q3 BY 2023/24 2022/04/01-2022/12/31 2023/04/01-2023/12/31 Cash flow from results 1,502 984 Changes in working capital -1,858 -311 Cash flow from operating activities -356 673 Cash flow from investing activities 267 -691 Free cash flow -89 -
Slide 16: Development Gearing Ratio
voestalpine GROUP DEVELOPEMENT GEARING RATIO 7 769 7 784 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 2 258 -3 1 000 Committed lines 304 Financial assets -1 152 -211 954 Cash -502 Q1-Q3 BY 2023/24 2023/24 2024/25 2025/26 2026/27 In millions of euros voestalpine AG 17 | February 2024 | Investor Relations
Slide 18: Outlook
voestalpine GROUP OUTLOOK » The existing trends are expected to continue for the remaining BY 2023/24: » Ongoing stagnation in demand in the construction, mechanical engineering and consumer goods industries » The automotive industry should remain relatively stable at the current level » Demand from
Slide 19: Decarbonization Update
DECARBONIZATION UPDATE voestalpine AG 19 | February 2024 | Investor Relations
Slide 20: Production Processes – Status Quo
voestalpine GROUP PRODUCTION PROCESSES – STATUS QUO EUR 18.2 bn. revenues voestalpine Group BY 2022/23 68% of group 32% of group Metals business revenues Industrial business revenues Metal Engineering High Performance Metal Engineering Metal Forming Steel Division Division (part of) Metals Division
Slide 21: Production Processes in Phase 1: 2027-2030
voestalpine GROUP PRODUCTION PROCESSES in PHASE 1: 2027 - 2030 EUR 18.2 bn. revenues voestalpine Group BY 2022/23 68% of group 32% of group Metals business revenues Industrial business revenues Metal Engineering High Performance Metal Engineering Metal Forming Steel Division Division (part of) Metal
Slide 22: Production Processes in Phase 1: 2027-2030 Update
voestalpine GROUP PRODUCTION PROCESSES in PHASE 1: 2027 - 2030 EUR 18.2 bn. revenues voestalpine Group BY 2022/23 Update 68% ofHBI group 32% of group Metals business secured via stake in HBI-plant in Texas, USAbusiness Industrial revenues revenues Long term contracts with scrap dealers Metal Enginee
Slide 23: Production Processes in Phase 2: 2030-2035
voestalpine GROUP PRODUCTION PROCESSES in PHASE 2: 2030 - 2035 EUR 18.2 bn. revenues voestalpine Group BY 2022/23 68% of group 32% of group Metals business revenues Industrial business revenues Metal Engineering High Performance Metal Engineering Metal Forming Steel Division Division (part of) Metal
Slide 24: 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