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Voestalpine could see full year operating loss
Voestalpine Swings To Q1 Loss Before Tax Of EUR 70 Million
Voestalpine: Too Early To Assess Impact Of Coronavirus Crisis On European Steel Market
voestalpine AG is an Austria-based holding company engaged in the production and distribution of steel and related products. The Company operates, along with its subsidiaries, in four divisions: the Steel Division focuses on the production and processing of flat steel products for the automotive, white goods, and construction industries; the Special Steel Division manufactures long steel products, medium-wide strip steel, open-die forgings, and drop forgings; the Metal Engineering Division manufactures rails and turnout products, rod wire, drawn wire and pre-stressing steel, among others; and the Metal Forming Division provides metal processing solutions, in particular special tubes and sections, special strip steel, and complex components for the automotive industry, as well as manufactures welded tubes and hollow sections, open special sections, custom-made special tubes, and precision parts.
Iron & Steel
Independent Chairman of the Supervisory Board
Chairman of the Management Board, Chief Executive Officer
Independent Deputy Chairman of the Supervisory Board
Chief Financial Officer, Member of the Management Board
Member of the Management Board, Head of the Metal Engineering Division
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* Q1 revenue of 2.4 bln eur vs 3.3 bln the previous year (Adds detail, CEO, background)
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:
Austrian specialty steelmaker Voestalpine <VOES.VI> said on Monday it had bought a railway switch plant in France and stakes in companies in China and Argentina to strengthen its production capacity in the railway business.
* Plans To Make Use Of Short-Time Work Agreements Over Summer In Austria, Hopes For Further Scheme Afterwards
* 2019/20 net loss of 216 mln eur vs 2018/19 profit of 459 mln
Specialty steelmaker Voestalpine on Wednesday reported a net loss for the business year that ended in March, as demand from the car industry further dried up in the wake of the coronavirus crisis and due to internal operational problems.
* FY EBIT FALLS TO EUR -89 MILLION (PREVIOUS YEAR: EUR 779 MILLION) DUE TO IMPAIRMENT LOSSES
Austrian specialty steelmaker Voestalpine said on Tuesday it will not meet earnings targets for its recently ended business year because of the coronavirus pandemic, trimming its outlook for core profit and forecasting an operating loss.
Specialty steelmaker Voestalpine said on Monday it would introduce shorter working hours in about 50 of its European companies in Austria, Germany, Belgium, and France as a result of the coronavirus outbreak.
Specialty steelmaker Voestalpine said on Monday it would introduce shorter working hours in around 50 European group companies in Austria, Germany, Belgium, and France.
Voestalpine is evaluating which parts of production can be continued, must be reduced or halted due to the spread of the coronavirus, the specialty steel company told shareholders.
* VOESTALPINE AG - VOESTALPINE BÖHLER WELDING, BUYS MAJORITY STAKE IN ITALIAN MANUFACTURER FOR WELDING MACHINES SELCO S.R.L.. Source text - https://bit.ly/3aowP2h Further company coverage: (Gdansk Newsroom)
* WE WILL RESTART PRODUCTION AT SEVEN OF NINE CHINA SITES THIS WEEK
Voestalpine plans to introduce short-time working for most staff at a seamless tube plant in Austria due to a fall in orders as a result of U.S. tariffs.
Austrian specialty steelmaker Voestalpine said on Friday that it plans to introduce short-time working for up to 950 employees at its Kindberg location from March.
Specialty steelmaker Voestalpine said on Thursday a weak auto sector and high input costs had tipped it into a loss during the first nine months of its 2019/20 business year, although it was seeing signs of demand stabilizing.
Austrian speciality steelmaker Voestalpine on Thursday posted a loss for the first nine months of the business year due to internal issues, a weak auto sector and oversupply in Europe's steel industry.
* REVENUE OF VOESTALPINE GROUP AS OF Q3 OF BUSINESS YEAR 2019/20 DECLINED SLIGHTLY BY 3.8%, TO EUR 9.6 BILLION
Austrian speciality steelmaker Voestalpine cut its full-year profit forecast on Monday for the second time in two months, blaming write-offs and provisions, and highlighting the problems facing Europe's steel industry.
Germany's cartel authority said on Thursday it was fining the country's two large steel makers Thyssenkrupp and Salzgitter as well as Austria's Voestalpine for price fixing.
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