EANS-Adhoc: voestalpine AG / High non-recurring write offs and provisions affect earnings in business year 2019/20 EAE

12/16/2019, 3:05 PM (Source: euro adhoc)
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Earnings Forecast
16.12.2019

Linz - In the current business year, non-recurring effects in an amount of EUR
360 million will negatively influence the result of voestalpine AG. This charge
essentially contains write-offs due to impairment of assets and is the result of
the analysis of possible effects of the changed global economic conditions on
the main business segments of voestalpine, announced in the last outlook.
All non-recurring effects reduce EBIT, but EUR 80 million affect EBITDA as well.
From today's perspective, the Management Board therefor expects EBIT for the
current business year 2019/20 to be just positive and operating profit (EBITDA)
to be in a range of around EUR 1.2 billion.
In view of this earnings expectation, the management board will propose to the
supervisory board to submit a resolution to the Annual General Meeting to lower
the dividend for the business year 2019/20 in comparison to the last business
year. The proposal will take the dividend yield as well as the payout ratio into
account.

Further inquiry note:
Peter Fleischer
Head of Investor Relations
Phone: +43/50304/15-9949
Fax:  +43/50304/55-5581
mailto:peter.fleischer@voestalpine.com
http://www.voestalpine.com

end of announcement                         euro adhoc
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issuer:       voestalpine AG
              voestalpine-Straße  1
              A-4020 Linz
phone:        +43 50304/15-9949
FAX:          +43 50304/55-5581
mail:         IR@voestalpine.com
WWW:          www.voestalpine.com
ISIN:         AT0000937503
indexes:      WBI, ATX
stockmarkets: Wien
language:     English

EAX0002    2019-12-16/15:05

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