Refile: Austria's Voestalpine sees annual core earnings at low end of guidance range

Voestalpine AG

Wed 07:12

Refiles to fix formatting, no changes to text.
Nov 11 (Reuters) - Austrian steelmaker Voestalpine VOES.VI forecast annual core earnings in the lower end of its previously disclosed outlook range on Wednesday, citing continued cost pressure on energy and logistics due to the Iran war and effects of additional temporary US tariffs.
It expects earnings before interest, taxes, depreciation and amortisation of between €1.6 billion and €1.7 billion ($1.8 billion and $1.9 billion) in the financial year through March 2027, compared with €1.60 billion to €1.85 billion previously. Analysts polled by Vara were expecting €1.77 billion on average.
Second-quarter revenue fell 5.4% to €3.69 billion, compared with a consensus estimate of €3.84 billion
Auto industry demand remained weak in the first half of the year, while the markets for railway infrastructure, aviation and storage technology continued to develop positively, Voestalpine said
Last week, it joined more than 100 European manufacturers in calling for changes to proposed reforms of the EU carbon market, warning that the plans could accelerate production closures and relocations
The results are the first since Voestalpine's September capital markets day, where management outlined plans to expand higher-margin processing and technology businesses and reduce its dependence on cyclical steel markets
($1 = 0.8957 euros)

(Reporting by Emanuele Berro in Gdansk, editing by Milla Nissi-Prussak)
((Email: danny.callaghan@thomsonreuters.com))