voestalpine AG — Earnings Release 1998

Jun 11, 1999

News Details

Ad-hoc | 11 June 1999 08:02

Ad hoc-Service: VOEST-Alpine Stahl AG

Ad hoc-Mitteilung übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist allein der Emittent verantwortlich. —————————————————————————— June 11, 1999 VOEST-ALPINE STAHL AG: business year 1998/99 “We are stronger than our competitors in this downturn.” Peter Strahammer, CEO Euro m Change to 1997/98 Turnover 2,580 (+ 2.5 %) EBITD 357 (+ 4.9 %) EBIT 168 (+ 1.0%) Net profit 108 (- 8.8 %)* Dividend in 1.20 (+ 10 %) Euro . Slight fall in the net profit due to the acquisition- financing VAE AG and Metsec . Highest EBITD since going public . 10% higher dividend proposal: EUR 1.2 or ATS 16.51 (1997/98: ATS 15). . Crisis in the international steel market – Europe becomes a net steel importer for the first time in 1998 – global slump in prices, particularly those for commodities, but also for higher qualities. . VOEST-ALPINE STAHL continued strategic expansion. Purchase of the British section producer METSEC plc. Acquisition of more than 90% of VAE Aktiengesellschaft shares together with the German company VOSSLOH AG. . Intensivied activities in steel-related services. Taking of a 50% holding in VOEST-ALPINE INDUSTRIAL SERVICES GmbH (VAIS) by VOEST-ALPINE STAHL LINZ GmbH for co-operation in the sale of industrial services. . Allocation of a 50% partnership in VOEST-ALPINE STAHLROHR KINDBERG GmbH & Co KG to GRANT PRIDECO, in order to secure the long-term future of the company. . Further systematic cost reductions – savings target of ATS 500 million p.a. achieved, ATS 700 million planned for 1999/2000. . Change to IAS Change 1997/98 1997/98 1998/9 1998/99 from IAS ATS m Euro m 9 Euro m 1997/98 in ATS to m 1998/99 Turnover 34,649 2,518.0 35,528 2,581.9 + 2.5 % Operating result – 4,677 339.9 4,907 356.6 + 4.9% EBIT Operating result 2,287 166.2 2,309 167.8 + 1.0 % before depreciation – EBITD Net profit 1,634 118.7 1,491 108.4 – 8.8 %* Crude steel 4.85 4.70 – 3.1 % production (in metric tons) Employees (period- 14,416 16,179 + 12.2 end) %** Dividend*** in Euro 15.00 16.51 1.20 +10 % * fall due to acquisition-financing of VAE AG and METSEC plc. ** incl. aquisitions VAE AG and Metsec plc. *** proposal to AGM Ende der Mitteilung