AT A GLANCE: Pandemic-led demand deterioration pushes Voestalpine to loss in June quarter

A summary of the financial results for Austrian steelmaking group Voestalpine for the first quarter of its 2020/21 financial year, covering the period April 1-June 30, 2020.

In brief 

The Covid-19 slump in demand for steel products from almost all of its customer segments had a significant negative impact on Voestalpine's earnings for the period.  In North America, the start of the current business year was marked by a meltdown of steel demand. But demand started to recover toward the end of the reporting period. While automotive plants had to adjust their production capacity to reduced demand, entities focused on consumer goods were not affected as much. The direct reduction plant in Texas...

Published

Julia Bolotova

August 05, 2020

12:30 GMT

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