Gearing ratio
Net financial debt – Equity – Gearing ratio
In millions of euros
The voestalpine Group also showed a very positive trend in the 2025/26 business year with regard to its debt ratio. Net financial debt was reduced by 23.4% to EUR 1,263.7 million as of March 31, 2026 (EUR 1,650.0 million as of March 31, 2025). This was achieved despite extensive investment activity related to the transformation of steel production (“greentec steel”) and continued regular dividend payments. The solid earnings performance in the 2025/26 business year strengthened the voestalpine Group’s equity base. Specifically, equity rose by 4.5% year-over-year, from EUR 7,464.7 million as of March 31, 2025, to EUR 7,800.6 million as of March 31, 2026. With the simultaneous reduction in debt and the increase in equity, the gearing ratio (net financial debt as a percentage of equity) improved from 22.1% as of March 31, 2025, to 16.2% as of March 31, 2026. This reduced the gearing ratio to its lowest level since the 2005/06 business year.
Net financial debt can be broken down as follows:
In millions of euros |
|
03/31/2025 |
|
03/31/2026 |
|---|---|---|---|---|
|
|
|
|
|
Financial liabilities, non-current |
|
1,911.5 |
|
1,524.0 |
Financial liabilities, current |
|
843.7 |
|
963.8 |
Cash and cash equivalents |
|
−781.8 |
|
−1,096.0 |
Other financial assets |
|
−304.4 |
|
−109.0 |
Loans and other receivables from financing |
|
−19.0 |
|
−19.1 |
Net financial debt |
|
1,650.0 |
|
1,263.7 |