** Shares in Austrian specialty steelmaker Voestalpine VOES.VI rise around 3% as its Q4 EBITDA and FCF beat expectations despite a challenging environment
** Q4 EBITDA came in at 378.1 million euros ($430.62 million), above analysts' estimate of 335.14 million euros according to LSEG
** FCF was 309 million euros for the year, above the company's guidance of 100 million euros
** Strong free cash flow could be seen as positive, Michael Marschallinger, analyst at Erste Group says
** "In addition, the share have recently suffered greatly from the U.S. steel tariff announcements," Marschallinger adds
** Shares of the company were up 3.7% at 0756 GMT to the top of the Austrian index .ATX, after rising as much as 5.3% earlier
($1 = 0.8780 euros)
(Reporting by Isabel Demetz and Bernadette Hogg)
((Isabel.demetz@thomsonreuters.com))