Voestalpine Group has posted half-year revenue up 4.1% from EUR5.6bn to EUR5.8bn (US$6.2bn).
“The first six months of the business year have been quite gratifying,” said Voestalpine chairman and CEO, Wolfgang Eder.
Go deeper with GlobalData
“Individual major contracts and strategic steps in the internationalisation process with acquisitions and new plants, particularly in the US and Asia, have once again improved our product mix in the high-tech segment, contributing significantly to an earnings trend that is all in all very satisfactory.”
The company adds the trend is the result of both a rise in sales resulting from operational activities in individual divisions and revenue contributions from acquisitions undertaken by the Metal Engineering Division in the second half of 2014/15.
Equally, companies Voestalpine Tubular, Austria and CNTT Chinese New Turnout Technologies, which also belong to the division, went from consolidation at equity to full consolidation for the first time in the current business year.
Divestments undertaken in the previous year by the Metal Forming Division -sale of the Flamco Group and the plastics companies both in Holland and Rotec Sweden – had a negative impact on revenue in the business year 2015/16.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
