Voestalpine stock slips as stronger half-year meets lower outlook

voestalpine reported stronger first-half earnings for fiscal 2026/27, but reduced the ceiling of its full-year EBITDA forecast. By 17:30 CET on Thursday, November 12, voestalpine stock traded at 38.14 euros on Lang & Schwarz, down 2.08 percent from the 38.95-euro quote in the latest report at 08:40 CET.

The company reported the results for April through September 2026 on November 11. According to the EQS release, revenue held broadly stable at 7.7 billion euros, while EBITDA rose to 846 million euros from 722 million euros a year earlier. EBIT increased to 470 million euros from 345 million euros, and profit after tax reached 290 million euros.

One-offs temper profit improvement

voestalpine said earnings included positive and negative one-off effects totaling around 100 million euros, particularly from the sale of voestalpine BÖHLER Profil. Free cash flow amounted to 24 million euros, including a one-off effect of approximately 150 million euros from the disposal.

Management kept the lower end of its full-year EBITDA forecast at 1.60 billion euros but lowered the upper end to 1.70 billion euros from 1.85 billion euros. The company cited the war in the Middle East, higher energy and logistics costs, delayed energy projects and provisional additional U.S. duties as pressure on second-half earnings potential.

Steel transition remains on schedule

The greentec steel projects in Linz and Donawitz remain on schedule and on budget, with the electric arc furnaces set to begin operating in the first half of calendar 2027. For investors, the combination of higher reported earnings and a lower forecast ceiling leaves the durability of the profit improvement and cash generation as key issues for the rest of the financial year.

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