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Financial Year 2011/12 2nd Quarter, 1st Half Investor Relations November 2011 voestalpine AG www.voestalpine.com voestalpine group Business concept (1) Steel is and will always be - the base of voestalpine group BUT: Downstream


  1. Financial Year 2011/12 2nd Quarter, 1st Half Investor Relations November 2011 voestalpine AG www.voestalpine.com

  2. voestalpine group Business concept (1) Steel is – and will always be - the base of voestalpine group � � BUT: Downstream strategy is strongly driving evolution from a steel maker to a processing group � Focus on most demanding customer segments in terms of innovation, technology and quality Custom made solutions based on most advanced products � and perfect service as key credentials of success No longer a steel company voestalpine AG | | 2 November 2011 Investor Relations

  3. voestalpine group Business concept (2) � Strategic markets � Focus on market segments with utmost technological and quality requirements, such as energy, automotive, railway and aircraft industry � No spot market business, commodities no option � Long term relationships � Long term partnerships with costumers, suppliers and R&D-institutions are key for innovation and permanent progression in technology and quality � Perfect service is key for long term partnerships First choice for high tech steel solutions voestalpine AG | | 3 November 2011 Investor Relations

  4. voestalpine group Global footprint Figures FY 2010/11 ROW North Asia Germany America Brazil Other Austria Europe France Benelux Italy Energy industry White & Automotive consumer goods Other Civil & Railway Mechanical infrastructure Building engineering & constr. subsuppliers No significant exposure to ailing countries and industries voestalpine AG | | 4 November 2011 Investor Relations

  5. voestalpine group Structure & position Profilform Steel Special Steel Railway Systems Automotive European Top World market World market European Top World market Player Leader Leader Player Leader Minimum top 3 market position in Europe � � Partial backward integration � Longest value chain in the industry � Product portfolio focused on long term growth segments Very limited exposure to crisis-regions and -industries � Resilient in economic downturn � � Full leverage in upturn � Strong commitment to efficiency improvement and cost cutting voestalpine AG | | 5 November 2011 Investor Relations

  6. voestalpine group Current situation � Macro lead-indicators weaker in recent months � Ongoing discussions about public debt and crisis in voestalpine group in figures banking and financial markets create negative EBIT EBIT Sales sentiment (€m) (%) (€m) � Business environment increasingly varying from Q1 3,052 318 10.4 FY 11/12 sector to sector Q2 � Customers generally cautious, order intake below 2,926 214 7.3 FY 11/12 1H pre-summer levels 5,978 531 8.9 FY 11/12 � Q2 FY 2011/12 at voestalpine influenced by summer 1H 5,192 414 8.0 FY 10/11 seasonality in general and 3-weeks technical shutdown for capacity extension in Steel Division voestalpine AG | | 6 November 2011 Investor Relations

  7. voestalpine group Reading and reaction � Internal preparation for higher volatility � Cost cutting and efficiency programs further intensified � Lean and flexible structures help to adopt cost positions voestalpine group in figures quickly to market environment � Unchanged rigid working capital management EBIT EBIT Sales � Fast reactions to short term changes in business (€m) (%) (€m) climate over complete value chain Q1 3,052 318 10.4 FY 11/12 � Constant control and adoption of stock levels over whole supply chain Q2 2,926 214 7.3 FY 11/12 � Well established communication lines to customers and 1H 5,978 531 8.9 suppliers FY 11/12 � voestalpine strategy and business model has proven 1H 5,192 414 8.0 FY 10/11 resilience in FY 2008/09 � Management experienced in handling demanding scenarios voestalpine AG | | 7 November 2011 Investor Relations

  8. Division Steel Business development � Demand situation and price levels in high quality segments still significantly better than in spot market Division Steel � Automotive, energy, machine building in figures � Customers increasingly cautious in shorter term market segments EBIT EBIT Sales (€m) (€m) (%) � Building, construction and consumer goods, household appliance � 3-weeks shut down for capacity extension of hot rolling mill Q1 1,038 101 9.8 FY 11/12 in Linz affecting revenues and earnings in Q2 FY 2011/12 Q2 � Recent development in steel sector 978 60 6.1 FY 11/12 � Significant cutback of capacities in European steel industry amid 1H 2,016 161 8.0 abated economic environment FY 11/12 1H � EU launches antidumping measures against Asian producers – 1,785 166 9.3 FY 10/11 imports declining � Deterioration of raw material prices in CQ4 � Challenging environment for steel price negotiations for CY 2012 voestalpine AG | | 8 November 2011 Investor Relations

  9. Division Special Steel Business development � Stable business performance after strong rebound in H1 CY 2011 Division Special Steel in figures (past ppa) � Still solid demand for high performance metals Improvement in special forgings segment � EBIT EBIT Sales (€m) (€m) (%) � Seasonality over summer on normal levels, no supply chain disruptions Q1 751 83 11.0 FY 11/12 � Stable market situation in automotive, machine Q2 713 59 8.3 building, oil & gas exploration and aircraft segments FY 11/12 � Business activities holding up well in North America, 1H 1,464 142 9.7 FY 11/12 Asia and Western Europe, slow down in South 1H 1,237 75 6.1 America FY 10/11 � Nevertheless: Customers increasingly concerned about overall sentiment voestalpine AG | | 9 November 2011 Investor Relations

  10. Division Railway Systems Business development � Railway Systems in Q2 FY 2011/12 again best in class within voestalpine group Division Railway Systems in figures � Stable development in rails business On-going brisk demand for premium rails � EBIT EBIT Sales (€m) (€m) (%) Unchanged difficult situation in standard rails � segment Q1 753 92 12.2 FY 11/12 � Turnout systems business benefit from dynamic markets in South Africa, Australia, Brazil and Turkey Q2 752 80 10.6 FY 11/12 However China slowing down � 1H 1,504 172 11.4 � Wire and welding consumables on solid demand FY 11/12 1H level in Q2, Q3 slightly weaker 1,336 129 9.7 FY 10/11 � Unchanged strong sentiment for seamless tubes in North America and Mid East voestalpine AG | | 10 November 2011 Investor Relations

  11. Division Profilform Business development � Demand from commercial vehicle and agricultural Division Profilform in figures machinery segments as well as aircraft and solar energy businesses on stable high level EBIT EBIT Sales (€m) (€m) (%) � Volatile order intake in standard tubes and sections segment caused by downward trend of input Q1 330 41 12.5 FY 11/12 material prices Q2 302 23 7.6 � Storage technology with further recovery in H2 FY 11/12 1H � Seasonal softening of precision strip segment in Q2, 632 64 10.2 FY 11/12 sentiment for H2 still strong 1H 557 57 10.3 FY 10/11 � Solid further development on Q2–level in next months expected voestalpine AG | | 11 November 2011 Investor Relations

  12. Division Automotive Business development � Overall still solid market environment and stable utilization rates Division Automotive � Dynamic growth of European car production in in figures CY 2011 so far EBIT EBIT Sales � Performance of premium car producers in Germany – (€m) (€m) (%) key customers of Division Automotive – still Q1 outstanding 293 19 6.3 FY 11/12 � Business bolstered by strong demand of Asian markets Q2 292 11 3.8 � But: Signals of mitigation in (parts of) automotive FY 11/12 sector 1H 585 30 5.1 FY 11/12 � Shorter delivery times and higher discounts for end 1H 477 25 5.2 consumers recently FY 10/11 � Reduced investments in commercial vehicle segment � Solid development in non-automotive activities voestalpine AG | | 12 November 2011 Investor Relations

  13. Financial overview voestalpine AG www.voestalpine.com

  14. voestalpine group Consolidated overview 1H 2010/11 1H 2011/12 YoY in % Sales €m 5,192 5,978 15.1 EBITDA €m 711 824 16.0 % of Sales % 13.7 13.8 EBIT €m 414 531 28.3 % of Sales % 8.0 8.9 EBT €m 317 443 39.7 Net Profit €m 250 346 38.6 EPS* € 1.24 1.82 46.8 Investments** €m 169 227 34.4 Depreciation €m 296 293 -1.2 Employees*** 39,862 41,168 * Based on average number of shares ** Fixed assets and acquisitions *** Per 30.09., excluding trainees & temps voestalpine AG | | 14 November 2011 Investor Relations

  15. EBIT development 1H 2010/11 vs. 1H 2011/12 34 €m -328 €m 396 €m 531 €m 414 €m 4 €m 11 €m EBIT EBIT 8.9% 8.0% Mix/ Raw 1H 2010/11 1H 2011/12 � ppa Price Volume* materials Misc.* * Savings are included in these items voestalpine AG | | 15 November 2011 Investor Relations

  16. voestalpine group Cash flow 1H 2010/11 vs. 1H 2011/12 1H 2010/11 1H 2011/12 Cash flow from result 554 618 €m Changes in working capital -80 -450 €m Cash flow from operating activities 474 168 €m Cash flow from investing activities -221 -232 €m Free cash flow 253 -64 €m voestalpine AG | | 16 November 2011 Investor Relations

  17. voestalpine group Gearing ratio voestalpine AG | | 17 November 2011 Investor Relations

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