EANS-Adhoc: voestalpine AG / voestalpine withstanding deteriorating economic environment

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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announcement.
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Financial Figures/Balance Sheet/annual report
02.06.2016

Due to the concentration on technology-intensive most demanding
market segments, voestalpine achieved broadly stable earnings in an
undoubtedly challenging economic environment in the business year
2015/16. Economically, Europe was able to continue the moderate
recovery trend, whereas North America showed easing dynamics towards
the end of the business year, Brazil and Russia stayed in deep
recession. Structural changes in the Chinese economy led to a
slowdown of its growth-rates, resulting in global price pressure for
commodities (mainly steel) because of massive oversupply. The general
downward trend of raw material prices continued in 2015/16; mainly
the slump of the oil-price led to substantial pressure on the
earnings of the Special Steel and the Metal Engineering Divisions
(excluding non-recurring items), which could not be fully offset by
an outstanding performance of other market segments (such as railway
infrastructure). The Steel Division managed to again increase its
earnings despite the challenging environment, thanks to its ambitious
cost-cutting and efficiency improvement program; the Metal Forming
Division improved earnings even more pronounced due to the strong
automotive demand and its internationalization strategy. Despite
investments on record level (EUR 1,311 million), voestalpine achieved
a positive free cash flow (before dividend) and was therefore able to
improve its gearing ratio to 54.5% from 58.2% last year. The dividend
proposal to the AGM is EUR 1.05 per share, an increase of EUR 0.05
compared to last year.

The results of the business year 2015/16 as well as those of business
year 2014/ 15 are impacted by non-recurring items (changes of
consolidation in Metal Engineering Division in 2015/16 and sale of
assets in Metal Forming Division in 2014/15 respectively). In
addition to these non-recurring items, impairment losses of EUR 38.8
million, EBIT-effective in the 4th Quarter of the business year
2015/16, were included as a consequence of negative market trends
affecting the business unit Seamless Tubes (Metal Engineering
Division), in particular due to the substantial fall of the oil and
gas price.

For reason of comparison of the operational developments, financial
figures excluding non-recurring items in both business years are
shown besides the IFRS- data.

Key figures of voestalpine Group

______________________________________________________________________________
|(acc._IFRS;_in_EURm)___|FY_2014/15*____________|FY_2015/16_____________|Change|
|_______________________|04/01/2014_-_03/31/2015|04/01/2015_-_03/31/2016|in_%__|
|Revenue________________|11,189.5_______________|11,068.7_______________|-1.1__|
|EBITDA_________________|1,530.1________________|1,583.4________________|+3.5__|
|EBITDA_margin_in_%_____|13.7___________________|14.3___________________|______|
|EBIT___________________|886.2__________________|888.8__________________|+0.3__|
|EBIT_margin_in_%_______|7.9____________________|8.0____________________|______|
|Profit_before_tax______|739.0__________________|751.3__________________|+1.7__|
|Profit_for_the_period**|595.0__________________|602.1__________________|+1.2__|
|EPS_(in_EUR)___________|3.18___________________|3.35___________________|+5.3__|
|Gearing ratio in % (03/|58.2 |54.5 | |
|31)____________________|_______________________|_______________________|______|

* Business Year 2014/15 retroactively adjusted.
** Before deduction of non-controlling interests and interest on hybrid capital.

Figures adjusted by special items from changes of consolidation:
_____________________________________________________________________________
|_____________________|ADJUSTED_______________|ADJUSTED______________|ADJUSTED|
|(acc._IFRS;_in_EURm)_|FY_2014/15*____________|FY_2015/16____________|Change__|
|_____________________|04/01/2014_-_03/31/2015|04/01/2015-_03/31/2016|in_%____|
|EBITDA_______________|1,468.2________________|1,445.8_______________|-1.5____|
|EBITDA_margin_in_%___|13.1___________________|13.1__________________|________|
|EBIT_________________|841.0__________________|814.4_________________|-3.2____|
|EBIT_margin_in_%_____|7.5____________________|7.4___________________|________|
|Profit_before_tax____|693.8__________________|676.8_________________|-2.5____|
|Profit for the |552.6 |509.8 |-7.7 |
|period**_____________|_______________________|______________________|________|
|EPS_(in_EUR)_________|2.94___________________|2.64__________________|-10.2___|

* Business Year 2014/15 retroactively adjusted.
** Before deduction of non-controlling interests and interest on hybrid
capital.

Additional information as well as the Annual Report 2015/16 of voestalpine AG as
of the effective date of March 31, 2016 is available on our website
www.voestalpine.com under the category "Investors". If you have any questions,
please contact our Investor Relations Team +43/50304/15-9949

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

end of announcement euro adhoc
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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
sector: Metal Goods & Engineering
ISIN: AT0000937503
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien
language: English