Voestalpine Narrows Guidance Ceiling as Middle East War, US Tariffs and a Shallow Danube Weigh on Steel Operations
Published on 11/13/2026 at 14:41 | Editorial boerse-global.de
Voestalpine has trimmed the upper end of its EBITDA guidance for fiscal 2026/27, cutting the range to EUR 1.60–1.70 billion from the EUR 1.60–1.85 billion it had previously projected. The Austrian steelmaker disclosed the revision alongside its half-year results, pointing to a longer-running war in the Middle East, higher energy and logistics costs, postponed energy projects and provisional additional US tariffs as the drags behind the move.
The war in the Middle East and persistent logistical bottlenecks also feed into the weaker outlook, according to the company. For EBIT, Voestalpine now expects EUR 830–930 million in fiscal 2026/27.
Media reports say low water levels on the Danube are hampering logistics and deliveries out of the Linz steel operations. Chief executive Herbert Eibensteiner also flagged the burden of the US tariffs.
Should investors sell immediately? Or is it worth buying Voestalpine?
Half-Year Earnings Move the Other Way
The guidance cut contrasts with an improving first half. EBITDA reached EUR 846 million, while profit after tax climbed 46.1% to EUR 290 million. EBIT rose to EUR 470 million from EUR 345 million over the same period.
Those tariffs have already left their mark on staffing. Voestalpine plans to cut 150 production jobs at its Kindberg site by the end of March 2027, citing US duties on seamless tubes. Talks with the works council over a social plan are under way, according to media reports, with an agreement targeted by the end of November — 2026, per one report. The company also pointed to difficult conditions in alternative markets in the Middle East and confirmed a capacity adjustment at the site in comments to the Oberösterreichische Nachrichten.
Analysts Split on the Revised Outlook
The sell-side response was mixed. JPMorgan lowered its price target to EUR 52.50 from EUR 56.80 while keeping its "Overweight" rating, according to media reports. BNP Paribas cut its target to EUR 41.50 from EUR 46.00 and maintained a "Neutral" stance. UBS, by contrast, left its buy recommendation and EUR 64.00 target untouched; in the Swiss bank's view, the reduced guidance implies EBITDA roughly 6% lower in fiscal 2026/27, even as EU steel prices recover.
Voestalpine is scheduled to report third-quarter fiscal 2026/27 figures on 10 February 2027.
Ad
Voestalpine Stock: New Analysis - 13 November
Fresh Voestalpine information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
