Voestalpine raises first-half profit but cuts forecast

Voestalpine’s after-tax profit rose 46 percent to 290 million euros in the first half of its 2026/27 financial year, while revenue remained almost unchanged at 7.7 billion euros, ORF reported on Wednesday.

The Austrian steel and technology group’s operating result before interest, taxes, depreciation and amortisation (EBITDA) increased 17 percent to 846 million euros. Operating profit (EBIT) rose 36 percent to 470 million euros. Positive one-off effects contributed about 100 million euros to the results.

Voestalpine lowered the upper end of its full-year EBITDA forecast, citing the ongoing war in the Middle East and resulting higher energy and logistics costs. It now expects EBITDA of between 1.6 billion and 1.7 billion euros, compared with a previous forecast of up to 1.85 billion euros.

The company said preparations for its greentec steel programme were on schedule and within budget. Two new electric arc furnaces in Linz and Donawitz are due to start operating in the first half of 2027. The project is expected to help reduce the group’s carbon emissions.

Voestalpine reduced its global workforce by 2 percent to 48,619 in the first half of the financial year. At its Kindberg site, where it makes seamless pipes for the oil and gas industry, about 150 more production employees are expected to lose their jobs by March 2027. The site currently employs about 950 people, down from 1,070 a year earlier.