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The largest metallurgical company in Austria predicts profit growth of at least 1.5 times

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voestalpine expects the global economy as a whole to continue its upward trajectory, at least until the end of calendar 2021. In addition, the trillions of economic stimulus packages in the EU and the US, which are designed to kick-start the economy, are expected to provide important growth momentum after the end of the COVID-19 pandemic.

The largest metallurgical company in Austria predicts profit growth of at least 1.5 times

The operating profit (EBITDA) of the largest metallurgical company in Austria voestalpine in 2020-2021 was at the level of 1.1 billion euros, which is much better than the company's expectations at the beginning of the financial year. EBITDA forecast for 2021 - 2022 fiscal year from 1.6 to 1.9 billion euros.

The company called the financial year 2020 - 2021 "an economic downturn of historic proportions." The aerospace industry, oil and gas have been hit particularly hard by the crisis. At the same time, voestalpine notes that the automotive industry has shown "amazing strength", which has driven a significant increase in demand for high quality steel products.

Assuming that the current economic momentum will continue and that there will be no new unexpected distortions in the market, the voestalpine AG Management Board expects EBITDA for fiscal 2021 - 2022 to be between EUR 1.6 billion to EUR 1.9 billion, ”said Herbert Eibensteiner , Chairman of the Management Board of voestalpine AG.

In the 2020-2021 financial year, the group's revenue was 11.3 billion euros; it has about 48,700 employees worldwide.

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