Voestalpine Ag · VIE:VOE
Voestalpine — Investor Day (September 2026)
55 slides from Voestalpine's investor day presentation, Sep 22, 2026
Slide 1: Capital Markets Day
CAPITAL MARKETS DAY Group Presentation & Railway Systems Business Berlin, September 22, 2026 voestalpine Company name AG or Division www.voestalpine.com | |
Slide 2: Disclaimer
DISCLAIMER This presentation (the “Presentation”) has been prepared by voestalpine AG (the “Company” and together with its consolidated subsidiaries, the “Group”) solely for information purposes in connection with investor and analyst communications. It does not constitute or form part of, and shoul
Slide 3: Today's Speakers
TODAY’S SPEAKERS Herbert Gerald Franz Günter Eibensteiner Mayer Kainersdorfer Neureiter CEO CFO Board Member CEO voestalpine AG voestalpine AG voestalpine AG voestalpine Railway Systems 3 | 22 September 2026 | Capital Markets Day 2026
Slide 4: Agenda
AGENDA 11:30–12:30 CEO & CFO Presentation Group Overview + Q&A 20 min 12:30–13:00 Lunch break 13:00–14:15 Management Presentation Metal Engineering Division & Railway Systems Business + Q&A 30 min 14:30–14:45 Transfer to InnoTrans trade fair 14:45–15:45 Product presentation at the voestalpine Railwa
Slide 5: CEO & CFO Presentation: Group Overview
CEO & CFO PRESENTATION Group Overview 5 | 22 September 2026 | Capital Markets Day 2026
Slide 6: A globally leading steel and technology group
A GLOBALLY LEADING 45 % steel and technology group PR with a unique combination O CE of materials and processing SS expertise ING & ENGIN 55 % S breakdown by revenue EER TEE IN L& G ET M AL PR ODU C TION 6 | 22 September 2026 | Capital Markets Day 2026
Slide 7: A globally leading steel and technology group
A GLOBALLY LEADING steel and technology group with a unique combination 5 50 500 of materials and processing continents countries companies & expertise locations 45 % PR 15 bn€ 1.5 bn€ 537 m€ O C ES SIN revenue BY 25/26 EBITDA BY 25/26 FCF BY 25/26 G & ENGINEE 55 % STE breakdown by revenue -4.3% YoY
Slide 8: 12 Business Units, 4 Divisions, 1 Group
WIRE RAILW AY ATE SYS Y PL TE MS AV HE MET AL EN 1 Group GI N W E EL DI ER NG 45 % IN PR G O OC C TG ES L SIN STE E 4 Divisions AUTOMOTIVE C. G& E NG I NE E 55 % ST MING breakdown by revenue FLAT EE FOR RIN . SEC L& STEE G 12 Business Units AL ET S& M L AL ET BE PRO DU CTION M TU &R W E HIGH PERFORM
Slide 9: Divisions and share of group revenue
Steel Metal Engineering Division Division 37 % of group revenue 26 % of group revenue High Performance Metal Forming Metals Division Division 18 % of group revenue 19 % of group revenue 9 | 22 September 2026 | Capital Markets Day 2026
Slide 10: Managing change in a volatile world
MANAGING CHANGE IN A VOLATILE WORLD 14 % of revenue 3% of revenue 65 %* of revenue 8% of revenue <10 % of revenue North America South America Europe Asia & Rest of & USA & Brazil China world Solid economic develop- High interest rates, Subdued economic growth, Stable economic perfor- ment, robust in
Slide 11: Six reasons to invest in voestalpine
SIX REASONS to invest in voestalpine 01 02 03 04 05 06 Market Innovation & Resilient Consistent Active Capital Positioning Quality Business Strategy Management Allocation 11 | 22 September 2026 | Capital Markets Day 2026
Slide 12: Market positioning
REASON 01 02 03 04 05 06 MARKET POSITIONING FOCUS Image source: ESA #1 World Global Leading High-quality products in techno- Market Leader Leader Partner logically demanding industries Railway Systems High-bay warehouse Automotive Stronger pricing power engineering Special Sections Aerospace Reduced
Slide 13: R&D is embedded in the business model
01 REASONInnovation 02 03 &04 05 06 Quality INNOVATION & QUALITY R&D IS EMBEDDED IN THE BUSINESS MODEL ~100 70 ~880 partners form our R&D sites worldwide FTEs in R&D and creates USPs in scientific R&D network BY 2025/26 products and processes >650 >3,400 ~222 m€ patent families registered IP rights
Slide 14: R&D is embedded in the business model
01 REASONInnovation 02 03 &04 05 06 Quality INNOVATION & QUALITY R&D expense R&D IS EMBEDDED in m€ Average R&D IN THE BUSINESS MODEL coefficient (of revenue) 300 and creates USPs in products and processes 1,5 200 1,0 0,7 100 0,6 0 Peer #1 Peer #2 Peer #3 voestalpine 2022 2023 2024 2025 Source: Europ
Slide 15: Innovation & quality: products and processes
01 REASONInnovation 02 03 &04 05 06 Quality INNOVATION & QUALITY Products Processes AEROSPACE INVAR ARTIFICIAL NEW ADVANCED POWER CABLES INTELLIGENCE TESTING CENTRE » Industrialization of highly » New INVAR alloy developed » AI defect detection » 85,000 tests per month complex titanium for high-volt
Slide 16: Resilient business through diversification
01 02 REASON 03 &04 Innovation 05 06 Quality RESILIENT BUSINESS DIVERSIFICATION 30 % 16 % 15 % 10 % across four divisions Automotive Energy Railway Construction Systems and multiple segments … 8% 4% 4% 13 % Mechanical Aerospace White-/ Other Engineering Consumer Goods Revenue breakdown BY 2025/26 16
Slide 17: Resilient business through diversification
01 02 REASON 03 &04 Innovation 05 06 Quality RESILIENT BUSINESS DIVERSIFICATION Positive free cash flow through the cycle since 15 years Reduced cyclicality reflected in consistently stable EBITDA margins across four divisions on average in m€ in % and multiple segments … reduces volatility 589 445
Slide 18: Consistent strategy from steel-only to diversified technology group
01 02 REASON & 03 Innovation 04Quality 05 06 CONSISTENT STRATEGY FROM A STEEL-ONLY COMPANY TO A HIGHLY DIVERSIFIED INDUSTRIAL TECHNOLOGY GROUP Processing & Engineering Downstream Revenue Share PROCESSING & Strategy ENGINEERING 1995 2025 2030+ downstream revenue share grows STEEL & METALS Steel Diver
Slide 19: Phased decarbonization
01 02 REASON & 03 Innovation 04Quality 05 06 CONSISTENT STRATEGY PRESERVING OUR QUALITY LEADERSHIP THROUGHOUT THE TRANSFORMATION AND BEYOND Decarbonization Strategy from until from until PHASED 2027 2029 2030 2050 DECARBONIZATION » Capital-light and » Risk-reduced approach Ramp-up of Reduction Repla
Slide 20: Active management: cost reduction in divisions
01 02 04 REASON 03 Innovation 05 06 & Quality ACTIVE MANAGEMENT HIGH PERFORMANCE METALS DIVISION METAL FORMING DIVISION Business Unit Automotive Components ~150 m€ sustainable cost reduction (p.a.) realized ~70 m€ sustainable cost reduction (p.a.) realized » Reduction of ~1,100* FTEs between 2024 an
Slide 21: Optimized capital structure
01 02 03 Innovation 04 05 & REASON Quality 06 CAPITAL ALLOCATION 01 02 03 04 OPTIMIZED VALUE- GRADUAL RETURN TO CAPITAL ENHANCING DECARBONIZATION SHAREHOLDERS STRUCTURE GROWTH Ongoing focus on: Group-level profitability Investment required over Target payout ratio: targets: the next few years. » Imp
Slide 22: Capital allocation
01 02 03 Innovation 04 05 & REASON Quality 06 CAPITAL ALLOCATION RETURN TO CAPITAL STRUCTURE ~400 m€ BY25/26 >120 m€** BY25/26 SHAREHOLDERS » Conservative financial policy ensuring Consistent dividend payout ratio at 30% investment grade profile » Disciplined de-leveraging in last years 1.5 bn€ Cash
Slide 23: Growth focus: +1 billion €
01 02 03 Innovation 04 05 & REASON Quality 06 CAPITAL ALLOCATION FOCUS Growth in processing and engineering businesses in-line with our strategy 2030+ Railway Systems Aerospace Warehouse & Tubes & Rack Sections Growth projection Revenue (bn€) 3,0 2,2 20 % 1,5 avg. ROCE >7 % +200 m€ + 1 billion € 202
Slide 24: Driving performance through capital efficiency
01 02 03 Innovation 04 05 & REASON Quality 06 CAPITAL ALLOCATION DRIVING Group ROCE target 12 % PERFORMANCE Division ROCE Division ROCE through capital efficiency and strategic portfolio Business D Business A Business B Business C management EBIT CE ROCE 9% 11% 25% 9% 14% 21% 4% 10% 26% 14% 9% … All
Slide 25: EBIT, capital employed and ROCE development
01 02 03 Innovation 04 05 & REASON Quality 06 CAPITAL ALLOCATION EBIT DEVELOPMENT Ø CAPITAL EMPLOYED DEVELOPMENT ROCE DEVELOPMENT in m€ in m€ in % +59% YoY 2025/26 -4% YoY 2025/26 >12 10,480 10,245 9,920 7,3 724 5,4 569 4,4 455 2023/24 2024/25 2025/26 Strategy 2023/24 2024/25 2025/26 Strategy 2023/2
Slide 26: Dividend policy and track record
01 02 03 Innovation 04 05 & REASON Quality 06 CAPITAL ALLOCATION Dividend Policy Dividend Track Record 30 % 4 bn€ payout ratio dividend pay out since 1995 Dividends paid every year since 1995, a OUR COMMITMENT 0.40 € minimum dividend consistent record of shareholder participation voestalpine’s goal
Slide 27: Six reasons to invest in voestalpine
SIX REASONS to invest in voestalpine 01 02 03 04 05 06 Market Innovation & Resilient Consistent Active Capital Positioning Quality Business Strategy Management Allocation Leading R&D-based Diversification Responsible Reorganization Responsible positions in competitive reduces growth strategy measure
Slide 28: Strategic and sustainable growth
STRATEGIC AND SUSTAINABLE GROWTH Growth segments RESILIENT, RECURRING COMPETITIVE ADVANTAGE Railway BUSINESS as full system provider Systems NEWS ~85 % HS2 project UK underway Aerospace Supply of high-speed switches, signaling technology and of Railway Systems monitoring applications (2023) 230 m€ r
Slide 29: Attractive outlook
ATTRACTIVE OUTLOOK Actual Q1 BY26/27 EBITDA 60 m€ DEPRECIATION 16 m€ CAPEX 8 m€ 29 | 22 September 2026 | Capital Markets Day 2026
Slide 30: Attractive outlook
ATTRACTIVE OUTLOOK Actual Q1 BY26/27 Outlook Full BY26/27 EBITDA 60 m€ ~210 m€ DEPRECIATION 16 m€ ~67 m€ CAPEX 8 m€ ~75 m€ 30 | 22 September 2026 | Capital Markets Day 2026
Slide 31: Management Presentation
MANAGEMENT PRESENTATION Metal Engineering Division & Railway Systems Business 31 | 22 September 2026 | Capital Markets Day 2026
Slide 32: Metal Engineering Division
METAL ENGINEERING DIVISION MAIN FOCUS GLOBAL SUPPLIER Revenue EBITDA margin Companies & of tailor-made product and system Locations solutions from our own steel base for demanding applications with a focus on extending the value chain, continuous material & system development, and the smart digitiza
Slide 33: Two business segments
METAL ENGINEERING DIVISION TWO BUSINESS SEGMENTS TAILOR-MADE RAILWAY Global Market Leader SYSTEM SYSTEMS SOLUTIONS for the most demanding industrial segments European Top Provider Global Top Provider INDUSTRIAL SYSTEMS Stahl Wire Donawitz Technology Tubulars Welding 33 | 22 September 2026 | Capital
Slide 34: Regions and customers
METAL ENGINEERING DIVISION REGIONS AND CUSTOMERS REVENUE PER REGION CUSTOMER SEGMENTS Production footprint in main markets address Diversified customer portfolio leads increasing need for local content to maximum resilience South America 2 % Mechanical Engineering 4 % White & Consumer Goods 2 % Cons
Slide 35: Donawitz greentec steel
DONAWITZ greentec steel April from from 2027 2027 2030 2030 Ramp-up of EAF Replacement of first Shut down of second Complete conversion to blast furnace blast furnace and electric steel production Expansion phase 1 sintering plant EAF – Start of Reduction of CO2 expansion phase 2* emissions by over
Slide 36: Performance on Track portfolio
RAILWAY SYSTEMS PERFORMANCE ON TRACK® PORTFOLIO » High-performance track systems » Intelligent turnout systems Leading global Comprehensive railway » Digital monitoring provider infrastructure systems solutions of system solutions for designed for maximum Designed to optimize railway infrastructure
Slide 37: Always close to customers: global network
RAILWAY SYSTEMS ALWAYS CLOSE TO CUSTOMERS GLOBAL NETWORK » 79 locations » 52 production sites » 4 continents Extensive experience and knowledge of local conditions and requirements Production sites Office locations 37 | 22 September 2026 | Capital Markets Day 2026
Slide 38: Proven track record of growth & value creation
RAILWAY SYSTEMS PROVEN TRACK RECORD OF GROWTH & VALUE CREATION WITH FURTHER FOCUS ON EXECUTING OUR STRATEGY Consolidation of railway infrastructure expertise Acquisition of Plastwil Acquisition of turnout manufacturer Unitrac under the “Railway Systems” umbrella Sp. z o.o., a producer of Railroad Ma
Slide 39: System portfolio at a glance
RAILWAY SYSTEMS OPTIONAL SYSTEM PORTFOLIO AT A GLANCE Alternative Plate Integrated Roller System Innovative and Intelligent Systems, Products, and Service Solutions Point Machine with External Lock for global railway infrastructure applications Mechanical Locking Device Moveable (Fully Encapsulated)
Slide 40: Maximizing track availability, minimizing life cycle costs
RAILWAY SYSTEMS MAXIMIZING TRACK AVAILABILITY. MINIMIZING LIFE CYCLE COSTS. ENSURING LONG-TERM PERFORMANCE. 5% Fixations Signaling 7% Minimized Dynamic Forces Extended Component Lifetime Real-time Insights Consistent Track Position Predictive Maintenance SPECIALIZED PROFIT CENTER 57 % Turnout System
Slide 41: High availability track future potential
RAILWAY SYSTEMS HIGH AVAILABILTY TRACK FUTURE POTENTIAL European mixed-traffic Potential market and high-speed of ~80,000 km networks (>160 km/h) by 2040 Smart Solution enabling a Digital Twin are the basis for the performance of High Availability Track Systems (HAT). 41 | 22 September 2026 | Capita
Slide 42: System provider to business areas across the globe
RAILWAY SYSTEMS SYSTEM PROVIDER TO VARIOUS BUSINESS AREAS ACROSS THE GLOBE High Mixed Freight Urban Traffic Urban Traffic Speed Traffic Traffic Tram Metro 42 | 22 September 2026 | Capital Markets Day 2026
Slide 43: System provider along the whole life cycle
RAILWAY SYSTEMS SYSTEM PROVIDER ALONG THE WHOLE LIFE CYCLE 01 02 03 04 PREPARE START RUN PERFORM Consulting, Supply, Logistics & Maintenance & Track Engineering & Training Initial Service Recycling Management 43 | 22 September 2026 | Capital Markets Day 2026
Slide 44: Digitalization
RAILWAY SYSTEMS DIGITALIZATION Creating an additional technology- driven growth layer across all regions in railway infrastructure business. 44 | 22 September 2026 | Capital Markets Day 2026
Slide 45: zentrak railway ecosystem
zentrak THE INTELLIGENT, CONSCIOUS AND LIVING RAILWAY ECOSYSTEM zentrak Ecosystem Create and manage the most efficient, reliable, and Interfaces Users high-performing railway track assets in the world Infrastructure Rolling Stock Asset & Monitoring Monitoring Maintenance Management Railway 3rd-party
Slide 46: Intelligent turnouts
RAILWAY SYSTEMS INTELLIGENT TURNOUTS GROWTH ENGINE PRESCRIPTIVE & PREDICTIVE MAINTENANCE » Monitoring and predicting the condition of assets » Reduced maintenance costs » Extended lifetime 46 | 22 September 2026 | Capital Markets Day 2026
Slide 47: Rail Baltica: digital high-speed turnouts
Rail Baltica 470 M€* – INCLUDING 535 DIGITAL HIGH-SPEED TURNOUTS 05 07 zentrak INFRASTRUCTURE MONITORING 03 01 04 07 06 Hollow Steel Digital ECOSTAR 5.0 Bearer Touch Point 02 04 01 02 05 07 SPHEROLOCK NG UNILOCK OCP Mobile App 03 06 07 Turnout Heating Customer EPD 4.0 System Portal Further component
Slide 48: Market environment & dynamics
THE RAILWAY MARKET Total Railway Market Volume 2025 MARKET ENVIRONMENT & DYNAMICS ~15.3 bn€ Thereof ~4.3 bn€ non-accessible due to network operators’ in-house productions, logistic costs, etc. as limiting factor. RAIL INFRASTRUCTURE is entering a multi-decade investment cycle Accessible Railway Mark
Slide 49: Competitive landscape
RAILWAY SYSTEMS COMPETITIVE LANDSCAPE THE FULL SYSTEM ADVANTAGE The only full-system provider in the infrastructure segment We seamlessly integrate tracks, turnouts, signaling, and fastening systems into one unified solution. Global Footprint Combining local expertise with global scale to support yo
Slide 50: Competitive landscape
RAILWAY SYSTEMS Entire COMPETITIVE system LANDSCAPE THE FULL SYSTEM ADVANTAGE The only full-system provider in the infrastructure segment We seamlessly integrate tracks, turnouts, signaling, and fastening systems into one unified solution. Components only Global Footprint Local supplier Global playe
Slide 51: Organic growth regions
RAILWAY SYSTEMS ORGANIC GROWTH REGIONS USMCA EUROPE CHINA REST OF ASIA (INCL. AUSTRALIA) » Track infrastructure moderni- » Network renewal » Asset renewal & maintenance zation/replacement demand » Digitalization » Network optimization » SEA: infrastructure investments » Intermodal corridor growth an
Slide 52: Growth opportunity Europe
RAILWAY SYSTEMS GROWTH OPPORTUNITY EUROPE GERMANY POLAND ITALY » Europe’s largest » 4th largest railway » 5th largest railway 01 railway network with market in Europe with market in Europe with 02 close to 40,000 km ~18,600 km ~17,300 km track » Government providing » Major development in » Major de
Slide 53: Growth opportunity India
RAILWAY SYSTEMS GROWTH OPPORTUNITY INDIA » 4th largest railway network in the world ~152,000 km » Network modernization and capacity expansion by 2030, with focus on signaling upgrades » Establishment of a High-Speed Network of up to 7,000 km » Freight corridor expansion to increase rail freight sha
Slide 54: Growth opportunity Central Asia
RAILWAY SYSTEMS GROWTH OPPORTUNITY CENTRAL ASIA 01 02 04 KAZACHSTAN 16,600 km UZBEKISTAN 4,200 km 03 » Further construction of the High-speed connection Middle Corridor (>322 km) between Tashkent and » Planned Investment: Samarkand 17,500 m€ 01 02 TURKMENISTAN 5,000 km KYRGYZSTAN 417 km Trans-Turkme
Slide 55: Thank you
THANK YOU voestalpine AG www.voestalpine.com | |