voestalpine FY 21/22 - Guidance reached, EBITDA outlook of EUR 1.8-2.0 bn
EBITDA of EUR 2.29 bn matches guidance of just under EUR 2.3 bnResults contain re-statement of HBI plant to discontinued ops and asset impairments
Clear net debt reduction amid partial reversal of NWC build-up in Q4
FY 22/23 EBITDA seen in a range of EUR 1.8-2.0 bn, we are at the upper end, consensus even a notch above
Overall, we have a rather neutral interpretation of the results
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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