Voestalpine Ag · VIE:VOE
Voestalpine — Q1-Q3 BY 2022/23 Earnings Presentation
19 slides from Voestalpine's earnings presentation, February 2023
Slide 1: Business Year 2022/23 1st-3rd Quarter
BUSINESS YEAR 2022/23 1 -3 QUARTER st rd Investor Relations FEBRUARY 2023 voestalpine AG www.voestalpine.com
Slide 2: voestalpine Group Development BY 2022/23
voestalpine GROUP DEVELOPMENT BY 2022/23 » Environment of BY 2022/23 was challenging so far: war in Ukraine, high energy prices and high inflation, logistic issues, supply chain problems, COVID-19 infections, etc. » Nevertheless, demand for voestalpine products stayed solid » Unchanged strong demand
Slide 3: Development of Divisions
DEVELOPMENT OF DIVISIONS voestalpine AG 3 | February 2023 | Investor Relations
Slide 4: Steel Division Business Development
STEEL DIVISION BUSINESS DEVELOPMENT » European steel market in general » Volatile business environment in European steel sector after start of war in Ukraine » Capacity curtailments of European steel mills helped balancing the market » Strong destocking trends towards end of calendar year 2022 » voe
Slide 5: Steel Division Financial Figures
STEEL DIVISION FINANCIAL FIGURES Q1-Q3 BY 2022/23 Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m 22/23 22/23 22/23 22/23 21/22 in % Revenue 1,826 1,611 1,504 4,941 3,901 +26.7 EBITDA 527 270 140 937 760 +23.3 EBITDA-% 28.8% 16.7% 9.3% 19.0% 19.5% EBIT 462 204 77 743 563 31.9 EBIT-% 25.3% 12.7% 5.1% 15.0% 14.4% voest
Slide 6: High Performance Metals Division Business Development
HIGH PERFORMANCE METALS DIVISION BUSINESS DEVELOPMENT » Strong demand for special materials » Ongoing upward trend in aerospace business » Strong demand from oil & gas sector » Largely solid development in tool steel » E-mobility driving demand in automotive » Somewhat weaker demand in consumer good
Slide 7: High Performance Metals Division Financial Figures
HIGH PERFORMANCE METALS DIVISION FINANCIAL FIGURES Q1-Q3 BY 2022/23 Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m 22/23 22/23 22/23 22/23 21/22 in % Revenue 959 921 904 2,784 2,161 +28.8 EBITDA 146 101 78 324 270 +20.2 EBITDA-% 15.2% 10.9% 8.6% 11.6% 12.5% EBIT 108 -111 39 36 151 -76.3 EBIT-% 11.2% -12.1% 4.3% 1.3%
Slide 8: Metal Engineering Division Business Development
METAL ENGINEERING DIVISION BUSINESS DEVELOPMENT » Very solid business environment for Railway Systems » Rail deliveries in European core markets on high level » Good demand for turnout systems globally » Continuation of trends in Industrial Systems business » Tubulars: strong demand from OCTG sector
Slide 9: Metal Engineering Division Financial Figures
METAL ENGINEERING DIVISION FINANCIAL FIGURES Q1-Q3 BY 2022/23 Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m 22/23 22/23 22/23 22/23 21/22 in % Revenue 1,042 1,076 1,077 3,195 2,473 +29.2 EBITDA 121 121 168 410 287 +43.0 EBITDA-% 11.6% 11.2% 15.6% 12.8% 11.6% EBIT 77 77 117 271 154 76.1 EBIT-% 7.4% 7.1% 10.9% 8.5% 6
Slide 10: Metal Forming Division Business Development
METAL FORMING DIVISION BUSINESS DEVELOPMENT » Continued trends in Automotive Components business » Volatile call offs in Europe » Somewhat better development in North America, solid performance in China despite lockdowns » Mixed developments in Tubes and Sections business » Demand from building indu
Slide 11: Metal Forming Division Financial Figures
METAL FORMING DIVISION FINANCIAL FIGURES Q1-Q3 BY 2022/23 Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m 22/23 22/23 22/23 22/23 21/22 in % Revenue 1,039 971 911 2,921 2,454 +19.1 EBITDA 114 85 79 279 281 -0.7 EBITDA-% 11.0% 8.8% 8.7% 9.5% 11.4% EBIT 78 48 44 170 170 +0.2 EBIT-% 7.5% 5.0% 4.9% 5.8% 6.9% voestalpine
Slide 12: Financial Overview
FINANCIAL OVERVIEW Q1-Q3 BY 2022/23 voestalpine AG 12 | February 2023 | Investor Relations
Slide 13: voestalpine Group Financial Overview
voestalpine GROUP FINANCIAL OVERVIEW Q1-Q3 BY 2021/22** Q1-Q3 BY 2022/23 Delta 2021/04/01-2021/12/31 2022/04/01-2022/12/31 % Revenue 10,504 13,585 +29.3 EBITDA 1,523 1,879 +23.4 EBITDA margin 14.5% 13.8% EBIT 955 1,140 +19.4 EBIT margin 9.1% 8.4% Profit before tax 901 1,053 +16.9 Profit after tax fr
Slide 14: YoY Development EBITDA
voestalpine GROUP YoY DEVELOPMENT EBITDA Q1-Q3 BY 2022/23 2 106 1 879 78 1 523 -1 671 -157 EBITDA- EBITDA- margin margin 14.5 % 13.8 % Q1-Q3 BY Price Raw Mix/ Misc. Q1-Q3 BY 2021/22 Materials Volume 2022/23 In millions of euros voestalpine AG 14 | February 2023 | Investor Relations
Slide 15: Development Cash Flow
voestalpine GROUP DEVELOPMENT CASH FLOW Q1-Q3 BY 2021/22 Q1-Q3 BY 2022/23 2021/04/01-2021/12/31 2022/04/01-2022/12/31 Cash flow from results 1,271 1,502 Changes in working capital -877 -1,858 Cash flow from operating activities 394 -356 Cash flow from investing activities -415 267 Free cash flow -21
Slide 16: Development Gearing Ratio
voestalpine GROUP DEVELOPEMENT GEARING RATIO 7,597 7,069 6,554 6,710 88% 6,060 83% 5,652 5,615 5,650 5,075 5,262 5,115 4,691 4,836 4,263 4,262 67% 4,289 3,572 71% 58% 3,762 55% 53% 3,775 49% 58% 46% 3,080 2,995 2,882 3,037 54% 3,221 3,125 2,978 2,743 2,667 1,786 2,547 2,713 2,586 45% 47% 2,421 47% 2
Slide 17: Liquidity and Redemption Schedule
voestalpine GROUP LIQUIDITY AND REDEMPTION SCHEDULE Liquidity Redemption 1,567 -3 -230 1,000 Committed lines Financial assets 143 424 Cash -1,003 -213 H1 BY 2022/23 2022/23 2023/24 2024/25 2025/26 In millions of euros voestalpine AG 17 | February 2023 | Investor Relations
Slide 18: Outlook for Remaining BY 2022/23
voestalpine GROUP OUTLOOK FOR REMAINING BY 2022/23 » Very recently, recession fears diminished somewhat » However, still high uncertainties in Europe, above all due to the Ukraine-war » Only a mild recession – if any – is expected for North America at the moment » Stable conditions in Brazil, but no
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