for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Voestalpine posts better than expected full-year profit

BERLIN, June 8 (Reuters) - Austrian speciality steelmaker Voestalpine on Wednesday reported better than expected full-year profit, boosted by strong demand from the automotive industry and at its storage technology business.

Voestalpine said full-year net profit came in at 32 million euros ($38.97 million), up from a net loss of 216.5 million euros last year, and above an analysts’ forecast of a 56 million euro net loss.

Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 1.1 billion, down 4% year-on-year, but above the upper end of the full-year forecast Voestalpine had given in the previous quarter. ($1 = 0.8211 euros) (Reporting by Riham Alkousaa Editing by Madeline Chambers)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up