Voestalpine decrease in revenue by 21.9% from EUR 6.5 billion to EUR 5.1 billion stems from smaller delivery volumes and lower prices.
Profit before tax fell year over year from EUR 163 million to EUR –268 million, and profit after tax from EUR 115 million to EUR –276 million.
Voestalpine generated substantially higher operating cash flow of EUR 563 million and free cash flow of EUR 281 million.
Net financial debt decreased from EUR 4.5 billion to EUR 3.5 billion thanks to good cash flow.
Year over year, the number of employees in the Voestalpine fell by 6.5% to 47,917. In October 2020, about 2,500 employees in Austria, about 1,200 in Germany, and about 1,800 internationally had been registered for short time work or similar models (particularly Brazil, Sweden, South Africa, France, Great Britain).
