Austria's Voestalpine reports lower first-quarter core earnings
Aug 7 (Reuters) -Austrian speciality steelmaker Voestalpine VOES.VI reported first-quarter core earnings below analysts' expectation on Wednesday, weighed down by weakness in the German automotive industry, as well as in construction and mechanical engineering.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at 417 million euros ($454.95 million) for the quarter ended June 30. Analysts polled by Vara Research had expected 448.7 million euros on average.
Linz-based Voestalpine now expects its 2024/25 EBITDA at the lower end of a previously forecast range of 1.7 billion to 1.8 billion euros.
($1 = 0.9166 euros)
Reporting by Chiara Holzhaeuser and Tristan Veyet in Gdansk; Editing by Subhranshu Sahu
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