VIENNA Feb 9 Austrian specialty steel maker
Voestalpine on Thursday posted a 3.3 percent drop in
nine-month revenue to 8.1 billion euros ($8.65 billion), but
reiterated its full-year guidance for adjusted core profit to
reach 1.45 billion.
Earnings before interest, tax, depreciation and amortisation
(EBITDA) for the nine months to end-December fell 12 percent
to 1.06 billion euros.
However, stripping out one-off effects in the full-year
2015/16 would reduce this decline to 0.8 percent, Voestalpine
The company said it expects earnings to grow significantly
in the fourth quarter on the back of rising raw material prices,
an improved oil and gas sector and higher steel-contract prices.
($1 = 0.9368 euros)
(Reporting By Shadia Nasralla; Editing by Sunil Nair)