Voestalpine Ag · VIE:VOE

Voestalpine — FY2008/09 Earnings Presentation

18 slides from Voestalpine's earnings presentation, June 2009

1. Slide 1: Business Year 2008/09 Financial results

   Business Year 2008/09 Financial results June 2009 voestalpine AG www.voestalpine.com

2. Slide 2: voestalpine group: Unique business model

   Investor voestalpine group Relations03071K410_Roadshow_Pres – 81695be6 Unique business model „ Niche focused high tech / high quality strategy „ Market leader in the niches voestalpine operates „ Diversified by regions, segments and products „ No spot market exposure, long term contracts „ Well bala

3. Slide 3: Global leadership in defined market segments

   voestalpine group Investor Relations03071K410_Roadshow_Pres – 81695be6 Global leadership in defined market segments BY 2008/09 Sales: 11,625 m€ EBIT: 1,016 m€* EBIT%: 8.7%* Special Railway Steel Steel Systems Profilform Automotive Top European Worldwide Worldwide Worldwide Top European player leader

4. Slide 4: Overview development Business Year 8/09

   Investor voestalpine group Relations03071K410_Roadshow_Pres – 81695be6 Overview development Business Year 2008/09 „ First half of BY 2008/09 with strong demand, high price levels, record figures „ Turnaround of the economic trend in late autumn 2008 with unexpected dynamics „ Demand in many segments

5. Slide 5: Division Steel – Business development

   Investor Division Steel – Relations03071K410_Roadshow_Pres – 81695be6 Business development „ First 9 months of BY 2008/09 on track for new Division Steel in figures record figures Sales EBIT EBIT (€m) (€m) (%) „ Demand decreasing rapidly in last 3 months 1Q 1,175 189 16.1 „ Stable utilization rate o

6. Slide 6: Division Special Steel – Business development

   Investor Division Special Steel – Relations03071K410_Roadshow_Pres – 81695be6 Business development „ North America weak since beginning 2008, rest of the world doing Division Special Steel in well until end of CY 2008 figures „ Markets currently very weak in general, energy business and Sales EBIT E

7. Slide 7: Division Railway Systems – Business development

   Investor Division Railway Systems – Relations03071K410_Roadshow_Pres – 81695be6 Business development „ Decoupling of railways segment from global downturn Division Railway Systems in figures due to extended infrastructure projects (exemption North American Market) Sales EBIT EBIT (€m) (€m) (%) 1Q 63

8. Slide 8: Division Profilform – Business development

   Investor Division Profilform – Relations03071K410_Roadshow_Pres – 81695be6 Business development „ Demand plummeting in autumn 2008 after very strong Division Profilform in figures first half BY 2008/09 Sales EBIT EBIT „ Very low demand in truck industry, machine building (€m) (€m) (%) and constructi

9. Slide 9: Division Automotive – Business development

   Investor Division Automotive – Relations03071K410_Roadshow_Pres – 81695be6 Business development Division Automotive in figures „ Significantly reduced global car production since Sales EBIT EBIT August 2008 (-35% in Europe Q1 2009 vs. Q1 2008)* (€m) (€m) (%) 1Q 259 18 6.8 BY 08/09 „ Downturn with dy

10. Slide 10: Financial overview

    Financial overview voestalpine AG www.voestalpine.com

11. Slide 11: Financial key figures

    voestalpine group Investor Relations03071K410_Roadshow_Pres – 81695be6 Financial key figures BY 2007/08 BY 2008/09 Sales €m 10,481 11,625 EBITDA €m 1,837 1,724 % of Sales % 17.5 14.8 EBIT €m 1,153 1,016 % of Sales % 11.0 8.7 EBT €m 980 728 Net Profit €m 752 612 EPS* € 4.69 3.41 * Undiluted EPS, base

12. Slide 12: EBIT Development

    Investor EBIT Development Relations03071K410_Roadshow_Pres – 81695be6 BY 2008/09 vs. BY 2007/08 629 €m 1,153 €m -311 €m 132 €m 1,016 €m 76 €m 123 €m EBIT 78 €m EBIT EBIT 11.0% 13.5% 8.7% -864 €m Price Mix/ Raw USD- Acqui- Misc. Δ ppa Volume materials exchange sitions rate 2007/08 2008/09 voestalpine

13. Slide 13: Cash flow statement

    voestalpine group Investor Relations03071K410_Roadshow_Pres – 81695be6 Cash flow statement BY 2007/08 BY 2008/09 Cash flow from result €m 1,398 1,239 Changes in working capital €m -262 119 Cash flow from operating activities €m 1,136 1,358 Cash flow from investing activities €m -4,166 -1,311 Free Ca

14. Slide 14: Gearing ratio

    Gearing ratio Investor Relations03071K410_Roadshow_Pres – 81695be6 4,289 4,263 4,263 4,212 3,762 3,860 3,762 3,571 88% 92% 88% 83% 2,882 2,547 2,125 1,786 1,853 47% 34% 32% 831 635 684 15% 526 18% 377 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 H1 2008/09 BY 2008/09 Net Debt (€m) Equity

15. Slide 15: Liquidity situation

    voestalpine group Investor Relations03071K410_Roadshow_Pres – 81695be6 Liquidity situation Liquidity Redemption – Schedule per 31.03.2009 per 31.03.2009 1600 Undrawn 1400 committed lines* 1200 1,070 Financial 900 1000 assets 720 €m 800 680 Cash 575 600 400 200 70 80 0 Liquidity 2009/10 2010/11 2011/

16. Slide 16: Proactive earnings and cash flow management

    Investor Proactive earnings and cash flow management Relations03071K410_Roadshow_Pres – 81695be6 „ Acceleration of existing CIP programs Min. 300 m€ Cost cutting programs „ Synergies from Böhler-Uddeholm acquisition annual savings „ Further efficiency programs launched „ Price and cost reductions 20

17. Slide 17: Short term Outlook

    voestalpine group Investor Relations03071K410_Roadshow_Pres – 81695be6 Short term Outlook „ General economic development „ Inventories down to normal levels in summer expected „ Step by step improvement of capacity utilization (except. Automotive Division) „ Slight improvement of overall situation i

18. Slide 18: IR Contact

    IR Contact Peter Fleischer Reuters Head of Investor Relations VOES.VI E-Mail [email protected] Phone +43/50304/15-9949 Peter Christensen Bloomberg Investor Relations Manager VOE AV E-Mail [email protected] Phone +43/50304/15-5221 voestalpine AG www.voestalpine.com

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