Voestalpine sees profit rising with EU limits on steel imports

By Danny Callaghan

June 3 (Reuters) - Voestalpine expects its core profit to grow in the coming year, with the European Union's safeguards set to boost performance, after the Austrian steelmaker reported an annual beat on Wednesday.

The EU has enforced a carbon levy on high-emission imports since the start of 2026 and will implement a trade policy halving steel import quotas from July 1, as part of measures to shield local steelmakers against cheaper products flowing in from Asia.

Steel imports into the 27-country bloc were 17% lower in the second quarter of the calendar year than in the same period in 2025, the head of Voestalpine's steel division, Hubert Zajicek, said during a press call.

"In the second half year of the calendar year, this will decrease considerably, since there will be some other measures in the post-safeguard system," Zajicek added.

The steel and technology company forecast earnings before interest, taxes, depreciation and amortization of between €1.60 billion and €1.85 billion ($1.86 billion and $2.15 billion) for its 2026/27 financial year, compared with the €1.49 billion recorded in the year through March.

Analysts polled by Vara were expecting EBITDA of €1.45 billion for last year and €1.76 billion for fiscal 2026/27 on average.

However, Voestalpine said delays to energy projects in its heavy plate segment would mitigate gains to its steel division.

The company also expects impacts from the Middle East conflict and trade disputes to hamper performance. In fiscal 2025/26, the negative earnings hit from U.S. steel tariffs was in high double-digit million euros, it said.

Voestalpine's shares were broadly flat at 1055 GMT.

($1 = €0.8604)

(Reporting by Danny Callaghan; editing by Milla Nissi-Prussak)