EANS-Adhoc: voestalpine AG /voestalpine reducing earnings expectations by EUR 100 million for FY 2012/13 despite development in the first half according to expectations

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6-month report

06.11.2012

With an EBITDA of EUR 730 million and EBIT of EUR 441 million based
on almost stable revenues in the first half of 2012/13 voestalpine is
well on track to repeat the (adjusted) earnings figures of the
business year 2011/12. Nevertheless due to fast growing economic
uncertainties in recent weeks the management board cuts the earnings
forecast for the full business year by EUR 100 million in comparison
with the original guidance. Therefore from todays point of view the
board expects for the business year 2012/13 an operating profit
(EBITDA) of approximately EUR 1.4 billion and a profit from
operations (EBIT) of about EUR 800 million (instead of originally EUR
1.5 billion resp. EUR 900 million).

Reasons: Further increase of the sustained negative global business
environment since summer 2011 regarding almost all key industrial
segments and important economic regions - so far less impacted
sectors like automotive, mechanical engineering and energy industries
currently under pressure on a broad scale - only few market segments
like aviation industry and agricultural machine building still facing
stable business conditions.

Unchanged solid earnings situation of voestalpine-group within this
difficult sentiment due to technology and quality driven niche
position - nearly stable revenues and only slightly declining
operational earnings development from 1st to 2nd quarter, somewhat
more significant decline compared to the (outstanding) 1st half of
2011/12 - EBITDA-margin continuously in the double-digit range (see
chart), clearly positive Free Cash Flow resulting in a further
deleveraging in the course of the 1st half of 2012/13 despite
dividend payment in the summer quarter.

Details on the 1st half year 2012/13 to follow on November, 7th 2012
before opening of the Vienna stock exchange.

Key figures of voestalpine Group

(acc. IFRS; in EURm)* H1 2011/12 H1 2012/13 Change
04/01 - 09/30/2011 04/01 - 09/30/2012 in %
Revenue 5,977.7 5,932.8 -0.8
EBITDA 824.2 729.8 -11.5
EBITDA margin in % 13.8 12.3
EBIT 531.4 440.7 -17.1
EBIT margin in % 8.9 7.4
Profit before tax 443.3 347.8 -21.5
Profit for the period** 346.1 269.5 -22.1
EPS (in EUR) 1.82 1.36 -25.3
Gearing ratio in % (09/30) 60.9 51.0

* according to IFRS all results after Purchase Price Allocation (PPA)
** before minority interest and hybrid capital interest

If you have any questions please contact our Investor Relations-Team
+43/50304/15-8735

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

end of announcement euro adhoc
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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