voestalpine AG / Non-recurring write offs affect earnings (EBIT) in business year 2020/21, range of outlook or business year 2020/21 specified

22.10.2020, 1570 Zeichen
Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
Earnings Forecast 22.10.2020
Linz - voestalpine AG's result will be affected by non recurring write offs of around EUR 200 million in the current business year 2020/21, in particular due to impairment losses both at voestalpine Texas and to a lesser extent at voestalpine Tubuluars. These are realized because of the expected results at the end of the current financial year, mainly due to global disparities triggered by the COVID-19 pandemic, as well as necessary adjustments to medium-term earnings expectations at these companies. The non-recurring write-offs are neither cash-effective nor affect EBITDA, but do affect EBIT. Due to the improvements in the economic environment, the Management Board currently expects an EBITDA in a range of EUR 800 million to EUR 1 billion for the entire business year 2020/21, assuming no further significant restrictions in connection with the COVID-19 pandemic, such as "lockdowns", by the authorities.
end of announcement euro adhoc
issuer: voestalpine AG voestalpine-Straße 1 A-4020 Linz phone: +43 50304/15-9949 FAX: +43 50304/55-5581 mail: IR@voestalpine.com WWW: www.voestalpine.com ISIN: AT0000937503 indexes: WBI, ATX stockmarkets: Wien language: English
Digital press kit: http://www.ots.at/pressemappe/2054/aom

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Bildnachweis

1. Mit dem TransANT hat die Steel Division der voestalpine und die voestalpine-Logistiktochter Logserv gemeinsam mit der Rail Cargo Group, der Güterverkehrstochter der ÖBB, ein weltweit neues Konzept entwickelt: Modular einsetzbare Güterwaggons mit unterschiedlichen Aufbauten in Leichtbauweise. Credit: voestalpine , (© Aussender)   >> Öffnen auf photaq.com

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