EANS-Adhoc: voestalpine AG / Non-recurring write offs affect earnings (EBIT) in business year 2020/21, range of outlook or business year 2020/21 specified EAE

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Earnings Forecast
22.10.2020

Linz - voestalpine AG's result will be affected by non recurring write offs of
around EUR 200 million in the current business year 2020/21, in particular due
to impairment losses both at voestalpine Texas and to a lesser extent at
voestalpine Tubuluars.
These are realized because of the expected results at the end of the current
financial year, mainly due to global disparities triggered by the COVID-19
pandemic, as well as necessary adjustments to medium-term earnings expectations
at these companies.
The non-recurring write-offs are neither cash-effective nor affect EBITDA, but
do affect EBIT.
Due to the improvements in the economic environment, the Management Board
currently expects an EBITDA in a range of EUR 800 million to EUR 1 billion for
the entire business year 2020/21, assuming no further significant restrictions
in connection with the COVID-19 pandemic, such as "lockdowns", by the
authorities.

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

EAX0005    2020-10-22/14:47