Voestalpine AG (VAS.DE), an Austrian steel-based technology and capital goods group, Wednesday revealed lower first quarter results, impacted by low demand from European automotive manufacturers, especially Germany. The company also reiterated its EBITDA outlook for the year ahead.
On the Frankfurt Stock Exchange, the stock is up 4 percent on Wednesday's trading at 24.26 euros.
The company posted profit of 106.3 million euros or 0.59 euro per share in the first quarter, down 29 percent from 149.7 million euros or 0.79 euro per share in the same period last year.
During the three-month period, pre-tax profit declined 26.4 percent to 138.7 million euros from 188.5 million euros in the previous-year quarter.
Quarterly revenue came in at 3.90 billion euros in the given quarter, down 6 percent from last year's 4.15 billion euros. The company's EBITDA declined 13.4 percent to 361.2 million euros from 417.2 million euros in the year-ago period.
According to Voestalpine, first quarter EBIT dropped 25 percent to 171.5 million euros from 227.8 million euros in the same period of fiscal 2025.
Looking ahead, the company reaffirmed its fiscal 2026 outlook of projected EBITDA between 1.4 billion euros and 1.55 billion euros.
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