The corona pandemic, now the war in Ukraine – it seems like all this can not harm Voestalpine. In the 2021/22 financial year, the technology and steel group from Linz recorded the highest turnover in the company’s history, rising to 14.9 billion euros. Profit after tax was also higher than ever, amounting to 1.3 billion euros.
Voestalpine CEO Herbert Eibensteiner is enthusiastic about the “great flexibility and adaptability” the company has shown. Two factors that also ensure that neither the corona pandemic nor the war in Ukraine have really left their mark on the technology and steel group. On the contrary! In the past financial year, turnover, profit and even shareholders’ equity rose to unprecedented heights.
The demand for high-quality products is stable, the field of storage technology and high-bay warehouses is booming and there is also a lot of demand for steel from Voestalpine in the energy sector. Eibensteiner has made a decision: “We will continue to focus on high-tech segments with the highest quality standards.”
The outlook for this year is marked by uncertainty related to supply chain issues and the impact of cost increases. Eibensteiner speaks of a “hardly predictable development in the second half of 2022”.
Factory in Kapfenberg almost ready
The world’s most modern stainless steel factory in Kapfenberg will gradually open in the summer. The plant should be fully operational from the fall. Originally Voestalpine had planned investments of 350 million euros here, but the project was between ten and twenty percent more expensive.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
