Voestalpine Ag · VIE:VOE
Voestalpine — Investor Day (October 2025)
16 slides from Voestalpine's investor day presentation, Oct 9, 2025
Slide 1: Financial Management and Capital Allocation
FINANCIAL MANAGEMENT AND CAPITAL ALLOCATION CMD 2025 voestalpine AG www.voestalpine.com
Slide 2: Who We Are: A World Leading Steel & Technology Group
WHO WE ARE A WORLD LEADING STEEL & TECHNOLOGY GROUP Strategic foundations for long-term value creation … 1. Market Positioning Highly diversified business model with leading positions Capital Allocation Policy in market segments with highest quality requirements Capital Growth Steady earnings and ca
Slide 3: Snapshot of Our Current Performance: Highlights Q1 2025/26
SNAPSHOT OF OUR CURRENT PERFORMANCE HIGHLIGHTS Q1 2025/26 GEARING 19% EQUITY EUR 7.5bn FREE CASH FLOW Q1 TURNOVER Q1 EUR 188mn EUR 3.9bn AEOROSPACE WAREHOUSE & High Performance Metals Division RACK SOLUTIONS Metal Forming Division EBITDA GUIDANCE CONFIRMED RAILWAY SYSTEMS EUR 1.4-1.55bn TUBES & SECT
Slide 4: 30 Years of Measurable Success Built on Consistency
30 YEARS OF MEASURABLE SUCCESS BUILT ON CONSISTENCY in Mio. € (Ø 10y average) 1st Decade Ø 2nd Decade Ø 3rd Decade Ø BY25 REVENUE 3.131 +322% 10.073 +37% 13.802 € 15,7bn EBITDA 415 +343% 1.423 +18% 1.682 € 1,3bn FREE CASH FLOW 16 +225% 36* +1.292% 465 309 1995-2005 2006-2015 2016-2025 steady progres
Slide 5: From Strategy to Capital Allocation: Our Recently Published Policy
FROM STRATEGY TO CAPITAL ALLOCATION OUR RECENTLY PUBLISHED POLICY Optimized Capital Growth Structure Value-enhancing growth through investments and acquisitions in selected regions, particularly with a Increased value through optimized capital focus on downstream activities structure in terms of cre
Slide 6: Focus: Optimized Capital Structure
FOCUS: OPTIMIZED CAPITAL STRUCTURE ANALYSIS FROM MULTIPLE PERSPECTIVES Capital Structure CREDIT RATING VALUE OPTIMIZATION PEER BENCHMARKING An investment-grade profile ensures access to The right mix of equity and debt capital Peer benchmarking is important to remain favorable capital, which is esse
Slide 7: Conservative Financial Policy Ensuring Investment Grade Profile
CONSERVATIVE FINANCIAL POLICY ENSURING INVESTMENT GRADE PROFILE Capital Structure BUSINESS Market Position, Profitability, Size, Diversification, PROFILE Stability, Country Exposure FINANCIAL Financial Constitution with strong commitment to PROFILE maintain Investment Grade Credit Profile 1 Gearing
Slide 8: Focus: Decarbonization – voestalpine's Step-by-Step Approach
FOCUS: DECARBONIZATION voestalpine’s STEP-BY-STEP APPROACH Decarbonization TIMELINE TRANSFORMATION 0-100% OUR PATH TO NET ZERO until 2027 5 blast furnaces 52%** decarbonized 1. Step 2 blast furnaces being replaced by 2 EAFs. (status quo) (On track) Amount : EUR 1.5bn. 2027–2030 3 blast furnaces, 2 E
Slide 9: Focus: Value-Adding Growth
FOCUS: VALUE-ADDING GROWTH EFFICIENT ALLOCATION AS A PREREQUISITE Growth FOCUS AREAS PROFITABILITY TARGETS AT GROUP LEVEL STEEL PRODUCTION ROCE >12% Focus on decarbonization, technology, productivity, EBIT-Margin 9% quality, and innovation leadership. EBITDA-Margin 14% Quality Growth METAL PROCESSIN
Slide 10: Value-Based Management in Action: WACC and ROCE
VALUE-BASED MANAGEMENT IN ACTION WACC AND ROCE AS KEY COMPONENTS Growth Driving performance through capital efficiency and strategic portfolio management 2. ENSURE 3. DEFINE M&A Strategy ACQUISITIONS Hurdle Rate ROCE-Target FOCUS ON HIGH ROCE BUSINESS Group ROCE At least Cost » Railway Systems meet/
Slide 11: Business Unit Snapshot: Railway Systems
BUSINESS UNIT SNAPSHOT RAILWAY SYSTEMS Growth SEGMENTS SHARE TURNOUT Efficient turnout systems for versatile demands. Highest speeds, highest axle loads or shortest 63% train intervals require complex and individual turnout system solutions. SIGNALING Asset- and maintenance management software and m
Slide 12: Revenue Projection, Q1 Result and Guidance
REVENUE PROJECTION 2020 2025 2030+ Growth 1.5bn 2.2bn >3bn Q1 RESULT AND GUIDANCE EBITDA Q1 FC BY26 60mn ~220mn FC BY26 DEPRECIATION Q1 ROCE 20% 15mn ~60mn The observed 5-year average is in line with CAPEX Q1 FC BY26 our forward-looking projections. 8mn ~85mn 12 | 09.10.2025 | CAPITAL MARKTES DAY 20
Slide 13: Focus: Shareholder Return – Dividend Policy Hybrid Model
FOCUS: SHAREHOLDER RETURN DIVIDEND POLICY – HYBRID MODEL Shareholder voestalpine implemented a hybrid dividend policy to address industry cyclicality: MINIMUM DIVIDEND TARGET PAYOUT RATIO 30% » Stable and reliable minimum shareholder return. » The target payout ratio is 30% of earnings per share (EP
Slide 14: Capital Allocation at a Glance (1/2)
CAPITAL ALLOCATION AT A GLANCE (1/2) STEERING CASH FLOW THROUGH EVERY PHASE Our strong cashflow generation secures our actions 1 Operative Business SUCCESSFUL OPTIMIZATION OF WC: » Targeted measures implemented across all Q1 2025/26: –81,0 Mio. EUR divisions BY 2024/25: –322,3 Mio. EUR 1 » Process a
Slide 15: Capital Allocation at a Glance (2/2)
CAPITAL ALLOCATION AT A GLANCE (2/2) STEERING CASH FLOW THROUGH EVERY PHASE Our strong cashflow generation secures our actions question is how we can allocate our capital in a way that will increase value sustainably Capital Growth Decarbonization Dividend Operative Business Structure Strategy Str
Slide 16: The voestalpine Group: Key Investment Drivers
THE voestalpine GROUP KEY INVESTMENT DRIVERS Driving value and decarbonization with resilience and financial strength RESILIENT BUSINESS MODEL with high diversification and world leading positions STRONG BALANCE SHEET prepared for future growth and decarbonization investments COMMITMENT TO DECARBONI