voestalpine’s nine-month net income slips 32.4% y/y to USD362 million

Company makes no changes in full-year financial outlook

voestalipine has reported 32.4% year-over-year decline in profit after tax to EUR343.9 million (USD362.3 million as on 31 December 2016) for the nine-month period ended 31 December 2016 as revenue dropped 3.3% y/y to EUR8.1 billion, the Austria-based special steel solutions provider said in a press release on 9 February. Lower revenue also impacted the company’s earnings, resulting in 12.1% y/y drop in EBITDA to EUR1.1 billion (with EBITDA margin of 13.1%) and 25% y/y fall in EBIT to EUR545 million (EBIT margin 6.7%).