voestalpine AG — Earnings Release 2016

Jun 2, 2016

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

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Financial Figures/Balance Sheet/annual report

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 IFRSdata.

Key figures of voestalpine Group

		____________
		(acc._IFRS;_in_EURm) FY2014/15*_ FY2015/16_____ 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 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

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