Austrian steelmaker voestalpine AG has announced its financial results for the third quarter and the first nine months ended December 31 of the fiscal year 2012-13.
Accordingly, voestalpine's net profit in the third quarter decreased to €100 million, up by 53.1 percent compared to the same period of the previous year. The revenues of the company decreased by 6.2 percent to €2.71 billion, compared to the corresponding period of the previous financial year.
In the given quarter, the company's EBITDA increased by 9.6 percent year on year to €321.9 million, which is equivalent to an EBITDA margin of 11.8 percent, rising from 10.1 percent in the same period of the previous year.
In the first nine months, voestalpine registered a net profit of €369.5 million, down 10.2 percent year on year, while its revenues decreased by 2.5 percent to €8.65 billion, compared to the first nine months of the previous financial year.
Voestalpine's EBITDA amounted to €1.05 billion in April-December, down 5.9 percent year on year, with an EBITDA margin of 12.2 percent.
According to voestalpine, global improvement of the economic situation is not likely to occur before the second half of 2013. While indications of an economic recovery in China and progress in overcoming the European debt crisis have been interpreted as a positive trend reversal, the sustainability of both the uptrend in China and the beginning of an easing of the European debt is yet to be proved in the further course of the year.
