Voestalpine (VOE) Q1 2027 earnings summary

Executive summary

• Revenue increased 2.4% year-over-year to €3,994.4 million in Q1 2026/27, with strong momentum in Railway Systems, Aerospace, and Warehouse & Rack Solutions, and the High Performance Metals Division benefiting from improved product mix and higher prices.

• EBITDA rose 37% to €495 million, including approximately €100 million in one-off effects mainly from the sale of BÖHLER Profil and reorganization measures.

• EBIT surged 78.8% to €307 million; profit before tax doubled to €279 million; profit after tax up 84.6% to €196 million, reflecting operational improvements and extraordinary items.

• Net financial debt reduced by 28.7% year-over-year to €1,038 million, supported by asset sales and strong internal financing.

• Employee count reduced to 48,640, mainly due to reorganization in key divisions; greentec steel project progressing on time and on budget.

Financial highlights

• Revenue: €3,994.4 million (+2.4% YoY); EBITDA: €495 million (+37% YoY, margin 12.4%); EBIT: €307 million (+78.8% YoY, margin 7.7%).

• Profit before tax: €279 million (+100.9% YoY); profit after tax: €196 million (+84.6% YoY); EPS (basic): €1.14 (+93.2% YoY).

• Free cash flow increased to €224 million, supported by the sale of BÖHLER Profil (~€150 million).

• Equity increased 6.8% to €8,030.5 million; gearing ratio improved to 12.9%.

• Cash flows from operating activities: €344.3 million (-22.5% YoY).

Outlook and guidance

• Outlook unchanged despite ongoing geopolitical and trade uncertainties; strategy execution and regulatory changes (CBAM, EU safeguard measures) support resilience and improved pricing.

• Group EBITDA guidance for FY 2026/27: €1.60–1.85 billion.

• Railway Systems, Aerospace, and Warehouse & Rack Solutions expected to remain strong; Metal Engineering stable except for Tubulars.