Voestalpine : Q1 better than expected but guidance confirmed
>Resilience… like all the others at the worst of the crisis - Like most integrated steel companies, Voestalpine has weathered the Covid-19 pandemic rather well. Q1 2020/21 EBITDA (year-end 30 March) came to € 158m (vs € 105m expected and € 371m in Q1 2019/20 and € 345me in Q4 2019/20). Management seems satisfied with the measures taken to variabilise its fixed costs, adding to the state aid provided (15,000 staff concerned, i.e. 30% of the headcount). Management has r...voestalpine is engaged in the production, processing, and distribution of materials made of steel and in research and development in the areas of metallurgy, metal processing, and materials technology. Co.'s steel division focuses on the production and processing of flat steel products. Co.'s special steel division is involve in tool steel and high-speed steel. Co.'s metal engineering division is engaged in turnout technology, rails and treated wire, and tubes. Co.'s metal forming division is involve in tube products and precision strip steel as well as pre-finished system components. Co.'s other activities include heavy plate production, a foundry, and a number of downstream processes.
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