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Voestalpine sees steady 2012/13 operating profit
May 30, 2012 / 5:52 AM / 6 years ago

Voestalpine sees steady 2012/13 operating profit

VIENNA, May 30 (Reuters) - Austrian specialty steel group Voestalpine forecast it can keep operating profit steady in its 2012/13 business year despite tough market conditions that helped pushed 2011/12 earnings before interest and tax (EBIT) down 28.5 percent.

“From today’s point of view, based on Voestalpine’s strengths resulting from its downstream activities, operating results for FY 2012/13 should be achievable on similar levels like in FY 2011/12, despite the challenging environment in the steel segment,” it said on Wednesday.

It generated fourth-quarter EBIT of 27.8 million euros ($34.9 million), beating the average estimate of zero in a Reuters poll of analysts, and proposed an unchanged dividend of 0.80 euros per share.

$1 = 0.7977 euros Reporting by Michael Shields; Editing by Mark Potter

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