euro adhoc: voestalpine AG / Earnings Forecast / FQ3 Pre-announcement and Adjusted Guidance

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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C.E.O. Interviews

02.02.2009

• voestalpine increases 9-month earnings
• Forecast downgraded for the year as a whole

In view of the fact that real economic growth has tightened steadily worldwide
since autumn in the previous year, and the situation in the first weeks of 2009
gives no reason to expect any change in this trend, the Management Board of
voestalpine AG feels impelled to provide an early earnings forecast for the
first time since the Company´s initial public offering in 1995. Publication of
the detailed quarterly financial statements as at 31/12/2008 will take place as
scheduled on 25 February 2009, regardless of this announcement.

Based on EBITDA (earnings before interest, taxes, depreciation and
amortisation), earnings for the first three quarters of current
financial year 2008/09 will be around 10% higher than the comparable
value in the previous financial year (EUR 1.36 billion). EBIT
(earnings before interest and taxes) will also be approximately 10%
higher compared to the first nine months of the previous year (EUR
875 million). Both of these estimates remain above their values for
the previous year, even before accounting for the purchase price
allocation (PPA) from the Böhler-Uddeholm acquisition. These figures
represent the Group´s best nine-month earnings to date, thereby also
confirming the Management Board´s previous positive assessment of
financial year 2008/09.

However, due to the ever-worsening downward market trend that has
taken place since the end of 2008, based on current knowledge, EBITDA
for financial year 2008/09 as a whole is now expected to decline by
approximately 5% compared to the previous year (EUR 1.84 billion),
and EBIT is expected to decrease by around 10% (2007/08: EUR 1.15
billion), in both cases after PPA (the declines approximately double
when PPA is not taken into account). The weak earnings in the final
quarter are primarily the result of a massive decline in demand in
all areas, with the exception of the railroad infrastructure and
energy sectors, significantly decreased price levels in almost all
product groups, accompanied, however, by raw materials costs that
(still) remain high, and negative nonrecurring effects due to
personnel adjustment measures.

The unpredictability of the markets over the next 12 months makes it
impossible to provide an earnings forecast for financial year
2009/10, which begins on 1 April 2009. "We do, however, expect
earnings to remain significantly positive in the coming financial
year, even if the negative market trend continues", stated
voestalpine CEO Wolfgang Eder. Even in this difficult environment,
the Management Board also expects a clear positive change in cash
flow.

Further details as to the publication is available on
www.voestalpine.com or please contact the Investor Relations Team of
voestalpine AG under +43/50304/15-9949 for any further details.

end of announcement euro adhoc
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ots Originaltext: voestalpine AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

DI Peter Fleischer

Head of Investor Relations

Tel.: +43/50304/15-9949

Fax: +43/50304/55-5581

mailto:peter.fleischer@voestalpine.com

http://www.voestalpine.com

Branche: Metal Goods & Engineering
ISIN: AT0000937503
WKN: 897200
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official market