EQS-Adhoc

voestalpine AG: voestalpine plans to sell Buderus Edelstahl and reorganizes Automotive Components business in Germany resulting in one-off write-downs of around EUR 410 million - Seite 2

Against this backdrop, the Metal Forming Division is reorganizing its Automotive Components business in Germany and has adjusted its planning assumptions accordingly. This resulted in impairment losses of around EUR 70 million.

Earnings outlook BY 2023/24

The above-mentioned measures result in negative one-off effects on the voestalpine Group's EBITDA of about EUR 90 million and on EBIT of about EUR 410 million. This leads to an adjustment of the EBITDA expectation for the Business Year 2023/24 from around EUR 1.7 billion to around EUR 1.6 billion. The measures and the non-recurring burden on earnings strengthen the voestalpine Group's future earnings potential in a markedly changing economic and regulatory restrictive environment.

The structural optimization and adjustment of the product portfolio is a meaningful step in implementing the strategy of focusing the materials business (steel production) on the highest quality segment and growing globally in the downstream business. In the current Business Year 2023/24 significant progress was made for example in the area of automated warehouse technology via the establishment of a new production site in North America and an acquisition in Europe. The promising railway infrastructure segment is also continuously expanding through strategic investments.

End of Inside Information

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14-March-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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Language:	English
Company:	voestalpine AG
	voestalpine-Straße 1
	4020 Linz
	Austria
Phone:	+43 50304/15-9949
Fax:	+43 50304/55-5581
E-mail:	[e-mail]
Internet:	www.voestalpine.com
ISIN:	AT0000937503
WKN:	897200
Listed:	Vienna Stock Exchange (Official Market)
EQS News ID:	1857837