Voestalpine

Voestalpine's employees fell 0.141% to 47,418 in 2014

By Helgi Analytics - November 05, 2019

Voestalpine employed 47,418 persons in 2014, down 0.141% when compared to the previous year. Historically, the firm's workforce hit ...

Voestalpine's net profit rose 20.1% to EUR 536 mil in 2014

By Helgi Analytics - November 05, 2019

Voestalpine made a net profit of EUR 536 mil in 2014, up 20.1% when compared to the last year. Total sales reached EUR 11,190 mil, w...

Voestalpine's price/earnings (P/E) fell 11.0% to 11.0 in 2014

By Helgi Analytics - November 05, 2019

Voestalpine stock traded at EUR 34.1 per share at the end 2014 translating into a market capitalization of USD 7,116 mil. Sinc...

Profit Statement 2012 2013 2014
Sales EUR mil 11,524 11,077 11,190
Gross Profit EUR mil 4,780 4,747 4,929
EBITDA EUR mil 1,442 1,379 1,523
EBIT EUR mil 854 788 886
Financing Cost EUR mil 214 148 145
Pre-Tax Profit EUR mil 655 641 741
Net Profit EUR mil 445 446 536
Dividends EUR mil 155 213 230
Balance Sheet 2012 2013 2014
Total Assets EUR mil 13,093 12,635 13,295
Non-Current Assets EUR mil 7,029 7,168 7,772
Current Assets EUR mil 6,064 5,467 5,523
Working Capital EUR mil 2,373 2,418 2,442
Shareholders' Equity EUR mil 5,076 5,262 5,103
Liabilities EUR mil 8,017 7,373 8,192
Total Debt EUR mil 3,930 3,429 3,895
Net Debt EUR mil 2,838 2,896 3,430
Ratios 2012 2013 2014
ROE % 8.98 8.64 10.3
ROCE % 4.73 4.70 5.41
Gross Margin % 41.5 42.8 44.0
EBITDA Margin % 12.5 12.4 13.6
EBIT Margin % 7.41 7.12 7.92
Net Margin % 3.86 4.03 4.79
Net Debt/EBITDA 1.97 2.10 2.25
Net Debt/Equity 0.559 0.550 0.672
Cost of Financing % 5.57 4.02 3.97
Valuation 2012 2013 2014
Market Capitalisation USD mil 5,394 7,585 7,116
Enterprise Value (EV) USD mil 9,138 11,577 11,268
Number Of Shares mil 171 172 172
Share Price EUR 24.0 31.9 34.1
EV/EBITDA 4.94 6.33 5.74
EV/Sales 0.618 0.787 0.781
Price/Earnings (P/E) 9.19 12.3 11.0
Price/Book Value (P/BV) 0.814 1.05 1.15
Dividend Yield % 3.80 3.87 3.91

Get all company financials in excel:

Download Sample   $19.99

summary Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                                          
Sales EUR mil ... ... ... ... ... ...                 11,625 8,550 10,954 12,058 11,524    
Gross Profit EUR mil ... ... ... ... ... ... ... ... ...           4,655 3,669 4,667 4,855 4,780    
EBIT EUR mil ... ... ... ... ... ...                 1,016 352 985 704 854    
Net Profit EUR mil ... ... ... ... ... ...                 530 108 513 334 445    
ROE % ... ... ... ... ... ...                 12.4 2.54 11.5 7.00 8.98    
EBIT Margin % ... ... ... ... ... ...                 8.74 4.12 8.99 5.84 7.41    
Net Margin % ... ... ... ... ... ...                 4.56 1.27 4.68 2.77 3.86    
Employees ... ... ... ... ... ... ...               44,004 42,021 45,260 46,473 46,351    
balance sheet                                          
Total Assets EUR mil ... ... ... ... ... ...                 12,847 12,294 13,076 12,612 13,093    
Non-Current Assets EUR mil ... ... ... ... ... ... ... ... ...           7,076 7,072 6,856 6,801 7,029    
Current Assets EUR mil ... ... ... ... ... ... ... ... ...           5,771 5,222 6,221 5,811 6,064    
Shareholders' Equity EUR mil ... ... ... ... ... ...                 4,263 4,262 4,691 4,836 5,076    
Liabilities EUR mil ... ... ... ... ... ...                 8,584 8,032 8,385 7,776 8,017    
Non-Current Liabilities EUR mil ... ... ... ... ... ... ... ... ...           4,725 4,425 4,224 3,159 3,854    
Current Liabilities EUR mil ... ... ... ... ... ... ... ... ...           3,859 3,607 4,161 4,617 4,163    
Net Debt/EBITDA ... ... ... ... ... ... ... ... ...           2.37 3.67 2.03 2.38 1.97    
Net Debt/Equity ... ... ... ... ... ... ... ... ...           0.959 0.865 0.696 0.639 0.559    
Cost of Financing % ... ... ... ... ... ... ... ... ... ...         6.75 3.91 5.08 5.32 5.57    
cash flow                                          
Total Cash From Operations EUR mil ... ... ... ... ... ... ... ... ...           1,358 1,606 958 857 1,322    
Total Cash From Investing EUR mil ... ... ... ... ... ... ... ... ...           -1,249 -914 -367 -479 -830    
Total Cash From Financing EUR mil ... ... ... ... ... ... ... ... ...           413 -540 -390 -934 -74.7    
Net Change In Cash EUR mil ... ... ... ... ... ... ... ... ...           522 152 200 -556 418    
valuation                                          
Market Capitalisation USD mil                             2,229 7,189 7,409 5,515 5,394    
Number Of Shares mil                             163 167 169 169 171    
Share Price EUR                             9.85 30.0 33.1 25.2 24.0    
Earnings Per Share (EPS) EUR ... ... ... ... ... ...                 3.26 0.647 3.04 1.98 2.61    
Book Value Per Share EUR ... ... ... ... ... ...                 25.5 25.3 27.8 28.7 29.4    
Dividend Per Share EUR ... ... ... ... ...                   1.08 0.503 0.800 0.800 0.909    
Price/Earnings (P/E) ... ... ... ... ... ...                 3.02 46.3 10.9 12.8 9.19    
Price/Book Value (P/BV) ... ... ... ... ... ...                 0.386 1.18 1.19 0.880 0.814    
Dividend Yield % ... ... ... ... ...                   10.9 1.68 2.42 3.17 3.80    
Earnings Per Share Growth % ... ... ... ... ... ... ...               -28.1 -80.1 370 -35.0 31.9    
Book Value Per Share Growth % ... ... ... ... ... ... ...               -5.24 -0.825 9.93 2.99 2.76    
income statement Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                                          
Sales EUR mil ... ... ... ... ... ...                 11,625 8,550 10,954 12,058 11,524    
Cost of Goods & Services EUR mil ... ... ... ... ... ... ... ... ...           6,970 4,882 6,287 7,203 6,745    
Gross Profit EUR mil ... ... ... ... ... ... ... ... ...           4,655 3,669 4,667 4,855 4,780    
Staff Cost EUR mil ... ... ... ... ... ... ... ... ...           2,174 1,999 2,233 2,411 2,472    
Other Cost EUR mil ... ... ... ... ... ... ... ... ...           757 666 828 1,142 866    
EBITDA EUR mil ... ... ... ... ... ...                 1,724 1,004 1,606 1,302 1,442    
Depreciation EUR mil ... ... ... ... ... ...                 708 652 621 598 588    
EBIT EUR mil ... ... ... ... ... ...                 1,016 352 985 704 854    
Financing Cost EUR mil ... ... ... ... ... ... ... ... ...           312 189 234 220 214    
Extraordinary Cost EUR mil ... ... ... ... ... ... ... ... ...           -24.4 -20.4 -30.1 -20.1 -15.4    
Pre-Tax Profit EUR mil ... ... ... ... ... ...                 728 183 781 504 655    
Tax EUR mil ... ... ... ... ... ... ... ... ...           92.2 -3.46 168 91.1 133    
Minorities EUR mil ... ... ... ... ... ... ... ... ...           9.70 6.38 9.80 7.75 4.44    
Net Profit EUR mil ... ... ... ... ... ...                 530 108 513 334 445    
Dividends EUR mil ... ... ... ... ...                   175 84.2 135 135 155    
growth rates                                          
Total Revenue Growth % ... ... ... ... ... ... ...               10.9 -26.5 28.1 10.1 -4.43    
Operating Cost Growth % ... ... ... ... ... ... ... ... ... ...         11.6 -9.10 14.9 16.1 -6.07    
EBITDA Growth % ... ... ... ... ... ... ...               -6.11 -41.8 59.9 -18.9 10.7    
EBIT Growth % ... ... ... ... ... ... ...               -11.8 -65.4 180 -28.5 21.2    
Pre-Tax Profit Growth % ... ... ... ... ... ... ...               -25.6 -74.8 326 -35.4 29.8    
Net Profit Growth % ... ... ... ... ... ... ...               -26.2 -79.5 373 -35.0 33.4    
ratios                                          
ROE % ... ... ... ... ... ...                 12.4 2.54 11.5 7.00 8.98    
ROCE % ... ... ... ... ... ... ... ... ... ...         5.37 1.15 5.64 3.58 4.73    
Gross Margin % ... ... ... ... ... ... ... ... ...           40.0 42.9 42.6 40.3 41.5    
EBITDA Margin % ... ... ... ... ... ...                 14.8 11.7 14.7 10.8 12.5    
EBIT Margin % ... ... ... ... ... ...                 8.74 4.12 8.99 5.84 7.41    
Net Margin % ... ... ... ... ... ...                 4.56 1.27 4.68 2.77 3.86    
Payout Ratio % ... ... ... ... ... ...                 33.1 77.7 26.3 40.5 34.9    
Cost of Financing % ... ... ... ... ... ... ... ... ... ...         6.75 3.91 5.08 5.32 5.57    
Net Debt/EBITDA ... ... ... ... ... ... ... ... ...           2.37 3.67 2.03 2.38 1.97    
balance sheet Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
balance sheet                                          
Non-Current Assets EUR mil ... ... ... ... ... ... ... ... ...           7,076 7,072 6,856 6,801 7,029    
Property, Plant & Equipment EUR mil ... ... ... ... ... ... ... ... ...           4,378 4,484 4,371 4,378 4,554    
Intangible Assets EUR mil ... ... ... ... ... ... ... ... ...           2,018 1,883 1,799 1,742 1,790    
Goodwill EUR mil ... ... ... ... ... ... ... ... ...           1,421 1,420 1,420 1,421 1,470    
Current Assets EUR mil ... ... ... ... ... ... ... ... ...           5,771 5,222 6,221 5,811 6,064    
Inventories EUR mil ... ... ... ... ... ... ... ... ...           2,910 2,198 2,824 2,953 2,839    
Receivables EUR mil ... ... ... ... ... ... ... ... ...           1,786 1,458 1,710 1,774 1,658    
Cash & Cash Equivalents EUR mil ... ... ... ... ... ... ... ... ...           858 1,029 1,233 677 1,093    
Total Assets EUR mil ... ... ... ... ... ...                 12,847 12,294 13,076 12,612 13,093    
Shareholders' Equity EUR mil ... ... ... ... ... ...                 4,263 4,262 4,691 4,836 5,076    
Of Which Minority Interest EUR mil ... ... ... ... ... ... ... ... ...           76.6 72.8 73.3 70.4 67.3    
Liabilities EUR mil ... ... ... ... ... ...                 8,584 8,032 8,385 7,776 8,017    
Non-Current Liabilities EUR mil ... ... ... ... ... ... ... ... ...           4,725 4,425 4,224 3,159 3,854    
Long-Term Debt EUR mil ... ... ... ... ... ... ... ... ...           3,501 3,268 3,071 1,971 2,559    
Deferred Tax Liabilities EUR mil ... ... ... ... ... ... ... ... ...           312 246 237 204 190    
Current Liabilities EUR mil ... ... ... ... ... ... ... ... ...           3,859 3,607 4,161 4,617 4,163    
Short-Term Debt EUR mil ... ... ... ... ... ... ... ... ...           1,445 1,448 1,428 1,799 1,372    
Trade Payables EUR mil ... ... ... ... ... ... ... ... ...           1,899 1,726 2,197 2,108 2,125    
Provisions EUR mil ... ... ... ... ... ... ... ... ...           455 439 485 762 606    
Equity And Liabilities EUR mil ... ... ... ... ... ...                 12,847 12,294 13,076 12,612 13,093    
growth rates                                          
Total Asset Growth % ... ... ... ... ... ... ...               1.94 -4.30 6.36 -3.55 3.81    
Shareholders' Equity Growth % ... ... ... ... ... ... ...               -0.625 -0.001 10.1 3.09 4.95    
Net Debt Growth % ... ... ... ... ... ... ... ... ... ...         3.16 -9.79 -11.5 -5.28 -8.24    
Total Debt Growth % ... ... ... ... ... ... ... ... ... ...         15.2 -4.64 -4.62 -16.2 4.26    
ratios                                          
Total Debt EUR mil ... ... ... ... ... ... ... ... ...           4,946 4,716 4,498 3,770 3,930    
Net Debt EUR mil ... ... ... ... ... ... ... ... ...           4,088 3,688 3,265 3,093 2,838    
Working Capital EUR mil ... ... ... ... ... ... ... ... ...           2,796 1,931 2,337 2,619 2,373    
Capital Employed EUR mil ... ... ... ... ... ... ... ... ...           9,871 9,003 9,193 9,420 9,402    
Net Debt/Equity ... ... ... ... ... ... ... ... ...           0.959 0.865 0.696 0.639 0.559    
Cost of Financing % ... ... ... ... ... ... ... ... ... ...         6.75 3.91 5.08 5.32 5.57    
cash flow Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
cash flow                                          
Net Profit EUR mil ... ... ... ... ... ...                 530 108 513 334 445    
Depreciation EUR mil ... ... ... ... ... ...                 708 652 621 598 588    
Non-Cash Items EUR mil ... ... ... ... ... ... ... ... ... ...         -181 -19.9 231 207 42.4    
Change in Working Capital EUR mil ... ... ... ... ... ... ... ... ... ...         301 865 -407 -282 246    
Total Cash From Operations EUR mil ... ... ... ... ... ... ... ... ...           1,358 1,606 958 857 1,322    
Capital Expenditures EUR mil ... ... ... ... ... ... ... ... ...           -979 -615 -467 -553 -740    
Other Investments EUR mil ... ... ... ... ... ... ... ... ...           -270 -299 100 74.3 -89.5    
Total Cash From Investing EUR mil ... ... ... ... ... ... ... ... ...           -1,249 -914 -367 -479 -830    
Dividends Paid EUR mil ... ... ... ... ...                   -175 -84.2 -135 -135 -155    
Issuance Of Debt EUR mil ... ... ... ... ... ... ... ... ... ...         651 -229 -218 -729 161    
Total Cash From Financing EUR mil ... ... ... ... ... ... ... ... ...           413 -540 -390 -934 -74.7    
Net Change In Cash EUR mil ... ... ... ... ... ... ... ... ...           522 152 200 -556 418    
ratios                                          
Days Sales Outstanding days ... ... ... ... ... ... ... ... ...           56.1 62.2 57.0 53.7 52.5    
Days Sales Of Inventory days ... ... ... ... ... ... ... ... ...           152 164 164 150 154    
Days Payable Outstanding days ... ... ... ... ... ... ... ... ...           99.5 129 128 107 115    
Cash Conversion Cycle days ... ... ... ... ... ... ... ... ...           109 97.6 93.4 96.5 91.2    
Cash Earnings EUR mil ... ... ... ... ... ...                 1,238 761 1,134 931 1,033    
Cash Earnings Per Share EUR ... ... ... ... ... ...                 7.61 4.54 6.73 5.52 6.06    
Price/Cash Earnings (P/CE) ... ... ... ... ... ...                 1.29 6.59 4.93 4.57 3.96    
Free Cash Flow EUR mil ... ... ... ... ... ... ... ... ...           108 692 591 378 492    
Free Cash Flow Yield % ... ... ... ... ... ... ... ... ...           7.12 13.4 10.6 9.53 11.7    
other data Unit 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
other data                                          
ROA % ... ... ... ... ... ...                 4.16 0.862 4.04 2.60 3.46    
Gross Margin % ... ... ... ... ... ... ... ... ...           40.0 42.9 42.6 40.3 41.5    
Employees ... ... ... ... ... ... ...               44,004 42,021 45,260 46,473 46,351    
Cost Per Employee USD per month ... ... ... ... ... ... ... ... ...           6,023 5,513 5,439 6,012 5,706    
Cost Per Employee (Local Currency) EUR per month ... ... ... ... ... ... ... ... ...           4,117 3,964 4,112 4,324 4,444    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... ... ... ... ...           20.5 24.4 22.4 21.2 23.2    
Effective Tax Rate % ... ... ... ... ... ... ... ... ...           12.7 -1.88 21.6 18.1 20.3    
Enterprise Value (EV) USD mil ... ... ... ... ... ... ... ... ...           7,919 12,474 11,741 9,524 9,138    
EV/EBITDA ... ... ... ... ... ... ... ... ...           3.14 8.93 5.53 5.26 4.94    
EV/Capital Employed ... ... ... ... ... ... ... ... ...           0.576 0.967 0.963 0.780 0.737    
EV/Sales ... ... ... ... ... ... ... ... ...           0.466 1.05 0.810 0.568 0.618    
EV/EBIT ... ... ... ... ... ... ... ... ...           5.33 25.5 9.01 9.73 8.34    
Capital Expenditures (As % of Sales) % ... ... ... ... ... ... ... ... ...           8.43 7.20 4.26 4.59 6.42    
Sales from Steel EUR mil ... ... ... ... ... ... ... ... ...           4,329 3,099 4,175 4,130 3,922 ...  
Sales from Special Steel EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ...   3,531 2,358 2,631 2,945 2,748 ...  
Sales from Metal Engineering EUR mil ... ... ... ... ... ... ... ... ...           2,351 1,909 2,723 2,956 2,914 ...  
Sales from Metal Forming EUR mil ... ... ... ... ... ... ... ... ...           2,036 1,559 2,179 2,475 2,310 ...  
EBIT from Steel EUR mil ... ... ... ... ... ... ... ... ...           522 201 372 227 218 ...  
EBIT from Special Steel EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ...   55.0 -80.0 209 273 224 ...  
EBIT from Metal Engineering EUR mil ... ... ... ... ... ... ... ... ...           325 226 309 97.0 320 ...  
EBIT from Metal Forming EUR mil ... ... ... ... ... ... ... ... ... ...         160 50.0 182 185 168 ...  
EBIT Margin from Steel % ... ... ... ... ... ... ... ... ...           12.1 6.49 8.91 5.50 5.56 ...  
EBIT Margin from Special Steel % ... ... ... ... ... ... ... ... ... ... ... ... ...   1.56 -3.39 7.94 9.27 8.15 ...  
EBIT Margin from Metal Engineering % ... ... ... ... ... ... ... ... ...           13.8 11.8 11.3 3.28 11.0 ...  
EBIT Margin from Metal Forming % ... ... ... ... ... ... ... ... ... ...         7.86 3.21 8.35 7.47 7.27 ...  
Sales in Austria EUR mil ... ... ... ... ... ... ... ... ... ...         1,279 770 1,095 1,206 1,152 ...  
Sales in the EU EUR mil ... ... ... ... ... ... ... ... ... ...         5,348 4,532 6,791 7,476 7,145 ...  
Sales in Other Europe EUR mil ... ... ... ... ... ... ... ... ... ...         2,558 1,796 548 603 576 ...  
Sales in Asia EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ...   814 770 876 965 691 ...  
Sales in Brazil EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 465 342 438 482 576 ...  
Sales in North America EUR mil ... ... ... ... ... ... ... ... ... ... ...       814 ... 767 844 922 ...  
Sales to Automotive Segment EUR mil ... ... ... ... ... ... ... ... ... ...   ...   ... 2,906 ... 3,067 ... 3,342 ...  
Sales to Energy Segment EUR mil ... ... ... ... ... ... ... ... ... ...   ...   ... 1,628 ... 1,534 ... 1,844 ...  
Sales to Railway Infrastructure Segment EUR mil ... ... ... ... ... ... ... ... ... ...   ...   ... 1,511 ... 1,424 ... 1,498 ...  
Sales to Aviation Segment EUR mil ... ... ... ... ... ... ... ... ... ...   ...   ... 0 ... 219 ... 230 ...  
Sales to Civil & Mechanical Engineering Segment EUR mil ... ... ... ... ... ... ... ... ... ...   ...   ... 1,976 ... 1,314 ... 1,268 ...  
Sales to Construction Segment EUR mil ... ... ... ... ... ... ... ... ... ...   ...   ... 1,395 ... 1,095 ... 1,037 ...  
Sales to Storage Technology Segment EUR mil ... ... ... ... ... ... ... ... ... ...   ...   ... 0 ... 110 ... 230 ...  
Sales to Consumer Segment EUR mil ... ... ... ... ... ... ... ... ... ...   ...   ... 698 ... 876 ... 576 ...  

Get all company financials in excel:

Download Sample   $19.99

Jan 2014
Company Report

Voestalpine's Capital Expenditures rose 20.2% to EUR 1,061 mil in 2014

By Helgi Analytics - November 05, 2019

Voestalpine invested total of EUR 1,061 mil in 2014, up 20.2% when compared to the previous year. Historically, company's investments reached an all time high of EUR 1,061 mil in 2014 and an all time low of EUR 420 mil in 2003. When compared to total sa...

Voestalpine's Net Debt/EBITDA rose 7.22% to 2.25 in 2014

By Helgi Analytics - November 05, 2019

Voestalpine's net debt reached EUR 3,430 mil and accounted for 0.672 of equity at the end of 2014. The ratio is up 22.1% when compared to the previous year. Historically, the firm’s net debt to equity reached an all time high of 0.959 in 2008 and an all time low ...

Voestalpine's Cash & Cash Equivalents fell 12.8% to EUR 465 mil in 2014

By Helgi Analytics - November 05, 2019

Voestalpine's total assets reached EUR 13,295 mil at the end of 2014, up 8.14% when compared to the previous year. Current assets amounted to EUR 5,523 mil, or 41.5% of total assets while cash reached EUR 465 mil at the end of 2014. On the other hand, total debt reached EU...

Voestalpine's Total Cash From Operations rose 19.8% to EUR 1,120 mil in 2014

By Helgi Analytics - November 05, 2019

Voestalpine's operating cash flow reached EUR 1,120 mil in 2014, up 19.8% when compared to the previous year. Historically, the firm’s operating cash flow reached an all time high of EUR 1,606 mil in 2009 and an all time low of EUR 551 mil in 2004. Voestalpi...

Voestalpine's Net Margin rose 18.9% to 4.79% in 2014

By Helgi Analytics - November 05, 2019

Voestalpine made a net profit of CZK EUR 536 mil under revenues of EUR 11,190 mil in 2014, up 20.1% and 1.01%, respectively, when compared to the last year. This translates into a net margin of 4.79%. Historically, the firm’s net margin reached an all time high o...

Voestalpine's ROCE rose 15.2% to 5.41% in 2014

By Helgi Analytics - November 05, 2019

Voestalpine made a net profit of EUR 536 mil in 2014, up 20.1% when compared to the previous year. Historically, company's net profit reached an all time high of EUR 757 mil in 2006 and an all time low of EUR 108 mil in 2009. This implies return on equity of 1...

Voestalpine's Share Price rose 6.86% to EUR 34.1 in 2014

By Helgi Analytics - November 05, 2019

Voestalpine stock traded at EUR 34.1 per share at the end 2014 implying a market capitalization of USD 7,116 mil. Since the end of 2009, the stock has appreciated by 13.9% implying an annual average growth of 2.63%. In absolute terms, the value of the company ...

More News

The voestalpine Group is a steel-based technology and capital goods group focusing on the manufacture, processing, and development of sophisticated steel products. The Company supplies technology-intensive sectors, such as the automotive, railway, aviation, and energy industries. The Company is based in Linz, Austria and employes over 45,000 people. The Linz hot strip mill is a "fully integrated steel works" operated by voestalpine Stahl GmbH, a part of the steel division of voestalpine AG. In addition to Linz the most important plants are in Leoben in Styria and in Krems in Lower Austria. The Company operates in four divisions: Steel, Special Steel, Metal Engineering and Metal Forming Division. Voestalpine's history dates back to 1881, when the Alpine Montangesellschaft was founded as a vehicle of consolidating Austrian iron and steel assets