voestalpine AG — Earnings Release 2009

Feb 2, 2009

keywords: Earnings Forecast/C.E.O. Interviews

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

-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------

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.

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

emitter:	voestalpine AG
	voestalpine-Straße 1
	A-4020 Linz
phone:	+43 50304/15-9949
FAX:	+43 50304/55-5581
mail:	InvestorRelations@voestalpine.co
WWW:	www.voestalpine.com
sector:	Metal Goods & Engineering
ISIN:	AT0000937503
indexes:
stockmarkets:
language:	English

Aussendung übermittelt durch euro adhoc The European Investor Relations Service