Report on the financial key performance indicators
of the voestalpine Group

The voestalpine Group’s revenue increased by 0.8% in the first half of 2026/27 compared with the same period of the previous year, rising from EUR 7,591.1 million to EUR 7,655.5 million. Revenue trends across the divisions paint a mixed picture: In the Metal Engineering Division and the Steel Division, lower sales volumes led to a decline in revenue. In the Steel Division, a less favorable product mix resulting from project delays involving high-quality heavy plate for the energy sector also weighed on revenue growth, while higher prices had a positive effect. The High Performance Metals Division recorded an increase in revenue against the backdrop of rising prices and despite lower sales volumes. Similarly, the Metal Forming Division was able to increase its revenue year-over-year.

Operating profit (EBITDA) rose by 17.1% in the first half of 2026/27 compared with the same period a year earlier, from EUR 722.4 million to EUR 845.9 million. The EBITDA margin thus increased from 9.5% to 11.1%. With the exception of the Metal Engineering Division, all divisions increased their EBITDA compared to the previous year. In the Metal Engineering Division, challenging market conditions in the Industrial Systems segment weighed on earnings performance. In the High Performance Metals Division and the Metal Forming Division, reorganization projects aimed at reducing costs and increasing efficiency, respectively, supported EBITDA. In addition, in the High Performance Metals Division, earnings performance in the first half of 2026/27 was influenced by both positive and negative one-off effects, particularly from the sale of voestalpine BÖHLER Profil. In net terms, the EBITDA for the first half of the 2026/27 business year includes approximately EUR 100 million positive one-off effects. The Steel Division, on the other hand, benefited from a higher gross margin in the current reporting period, which more than offset the negative volume and product mix effects.

The voestalpine Group’s EBIT increased by 36.0% year-over-year, from EUR 345.3 million in the prior year to EUR 469.6 million in the first half of 2026/27, bringing the EBIT margin up from 4.5% to 6.1%. Net financial income (financial income less financial expenses) improved from EUR −66.9 million to EUR −61.8 million. Profit before tax thus amounted to EUR 407.8 million in the first half of 2026/27, representing a 46.5% increase over the prior-year level (EUR 278.4 million). The tax rate rose slightly year-over-year from 28.7% in the prior year to 28.9% currently. This results in profit after tax of EUR 290.2 million for the first half of 2026/27, representing an increase of 46.1% compared with the EUR 198.6 million reported in the first half of 2025/26.

Equity increased by 6.6% compared with the prior-year figure, rising from EUR 7,530.7 million as of September 30, 2025, to EUR 8,030.0 million as of September 30, 2026. Compared with the balance sheet date of March 31, 2026, when equity stood at EUR 7,800.6 million, this represents a 2.9% increase in equity. At the same time, net financial debt decreased by 5.3% from EUR 1,469.7 million as of September 30, 2025, to EUR 1,392.2 million as of September 30, 2026. Compared with the figure as of the balance sheet date of March 31, 2026 (EUR 1,263.7 million), net financial debt increased by 10.2%. The gearing ratio (net financial debt relative to equity) was further reduced on a year-over-year comparison, from 19.5% as of September 30, 2025, to 17.3% as of September 30, 2026. Compared with the balance sheet date of March 31, 2026 (16.2%), it increased slightly.

The number of employees (FTE, full-time equivalent) of the voestalpine Group decreased by 2.0% compared with the prior-year figure, from 49,614 as of September 30, 2025, and by 0.3% from 48,777 as of the balance sheet date of March 31, 2026, to 48,616 as of September 30, 2026. The decline is primarily due to reorganization measures in the High Performance Metals Division and at Automotive Components (Metal Forming Division).

Net financial debt can be broken down as follows: