Investing.com -- Shares of voestalpine AG (VIE: VOE) fell by 1% today as the company reported a third-quarter EBITDA of €250 million, which was a 13% miss compared to the €286 million consensus provided by Factset.
The European steel and technology group cited a challenging European macroeconomic environment that impacted demand, while noting that other markets like North America, Brazil, and China fared relatively better.
The Steel Division of the company managed to beat expectations with an EBITDA of €129 million versus the anticipated €111 million, despite automotive demand declining. The construction and consumer goods sectors remained stable, albeit at low levels, and the energy sector provided some positive demand for high-tech plates.
However, other divisions did not perform as well, with the High Performance, Metal Engineering, and Metal Forming divisions all missing their respective EBITDA targets. Tool steel was notably affected by low demand and increased imports, and the automotive components segment was subdued.
Compounding the market’s reaction was voestalpine’s revised outlook for the full fiscal year 2025. The company has lowered its EBITDA forecast to €1.3 billion from the previous €1.4 billion, and initially €1.7 billion. This new guidance falls 7% short of the €1.4 billion market consensus.
The company’s outlook also includes approximately €200 million in negative one-off effects, which accounts for the sale of Buderus Edelstahl GmbH, gas storage revaluations, and reorganization costs within the automotive sector.
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