---
title: "voestalpine Group results Q1 2026/27 Linz and Donawitz; EUR 100 million net one-time effects"
sdDatePublished: "2026-08-06T09:12:00Z"
source: "https://www.voestalpine.com/group/static/sites/group/.downloads/de/aktie/adhoc/gj-2026-27/20260805_q-a-results.pdf"
topics:
  - name: "iron and steel"
    identifier: "medtop:20000319"
locations:
  - "Linz"
  - "Austria"
---


voestalpine Group results Q1 2026/27 Linz and Donawitz; EUR 100 million net one-time effects

Q&A voestalpine Group results Q1 BY 2026/27

Q.) Were there any one-off effects in the Q1 2026/27 results?
A.) Earnings performance of High Performance Metals Division was significantly positively
influenced by the sale of voestalpine BÖHLER Profil. Continued reorganization
measures reduced the division’s EBITDA. This resulted in total in approximately EUR 100
million net positive one-time effects.

Q.) What is the status of your decarbonization projects?
A.) The greensteel projects in Linz and Donawitz are unchanged on time and on budget. We
continuously expect that the first two electric arc furnaces in Linz and Donawitz will start
the ramp-up phase in the first half of CY 2027.

Q.) Why did you accelerate your decarbonization plan in Donawitz?
A.) The implementation of the second expansion phase will enable the site’s extensive
decarbonization by 2030. Phase 2 in Donawitz is a capital-light capex program
amounting to c. EUR 100 million. Bringing this step forward is driven by both demand
and cost considerations and supports the site’s further development toward a minimill
concept.

Q.) You could substantially decrease net financial result in Q1 2026/27 compared to
previous quarters. What is your expectation for the development for the full BY
2026/27?
A.) Net financial result reached EUR -28 million in Q1 2026/27, marking a historically low
level. For BY 2026/27 we expect a net financial result of c. EUR -140 million.

Q.) What was the change in working capital and free cash flow development in Q1 BY
2026/27?
A.) We released working capital by EUR 44 million and generated free cash flow of EUR 224
million.

Q.) What is your free cash flow expectation for BY 2026/27?
A.) We expect free cash flow to come in at c. EUR 250 million BY 2026/27. It includes roughly
EUR 150 million cash inflow from the sale of BÖHLER Profil and peak CAPEX from
greensteel projects.

Q.) What net working capital and capex assumptions are included in your free cash flow
guidance for BY 2026/27?
A.) Our free cash flow guidance is based on broadly stable net working capital levels. Cash
flow from investing activities is expected to amount to approximately EUR -1,150
million, which includes c. EUR -400 million peak CAPEX from greensteel projects.

Q.) What does the EBITDA guidance of between EUR 1.6 and 1.85 billion comprise?
A.) In an environment of high geopolitical and economic uncertainties it includes the
continuation of the current market trends as well as positive effects from the
implementation of internal measures and supporting regulatory framework (CBAM, EU’s
new safeguard measures). Furthermore, it contains positive one-off effects of c. EUR 100
million, largely from the sale of BÖHLER Profil.

Q.) What is voestalpine’s exposure to the Middle East, and how is the ongoing conflict
affecting the Group?
A.) Revenue exposure to the affected countries in the Middle East accounts for approx. 1%
of Group revenue. The conflict has resulted in the postponement of energy-related
projects.

Q.) How will the Rail Baltica contract (EUR 470 million) contribute to the performance of
Railway Systems, and over what period will it support capacity utilization?
A.) Deliveries under the Rail Baltica framework agreements are going to start in the current
business year. The contract will support long-term capacity utilization in Railway Systems
through 2035.