voestalpine AG

voestalpine is engaged in the production, processing, and distribution of materials made of steel and in research and development in the areas of metallurgy, metal processing, and materials technology. Co.'s steel division focuses on the production and processing of flat steel products. Co.'s special steel division is involve in tool steel and high-speed steel. Co.'s metal engineering division is engaged in turnout technology, rails and treated wire, and tubes. Co.'s metal forming division is involve in tube products and precision strip steel as well as pre-finished system components. Co.'s other activities include heavy plate production, a foundry, and a number of downstream processes.
  • TickerVOE
  • ISINAT0000937503
  • ExchangeVienna Stock Exchange
  • SectorIndustrial Metals & Mining
  • CountryAustria

Analysts

1 director bought

A director at Voestalpine Ag bought 2,000 shares at 23.100EUR and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boar...

Alain William ...
  • Anis Zgaya
  • Baptiste Lebacq
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 08/08/2019

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Alain William

Voestalpine : Full-year guidance unlikely to be reached in our view

>Q2 2019 even more challenging than Q1 for the steel division - For the Steel division (42% of 2018-19 EBITDA), Q2 is likely to be down: 1/ due to a seasonal impact (reduction in volumes); 2/ slightly lower prices on a sequential basis (decline limited by contractual sales); and 3/ clearly higher raw materials’ costs (lag of 4-5 months) due to an increase in iron ore prices. The good news is that the price of iron ore has started to decline (around $ 96/t vs a peak of...

Alain William ...
  • Anis Zgaya
  • Baptiste Lebacq
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 08/08/2019

...

Alain William

Voestalpine : L’atteinte de la guidance annuelle est peu probable selon nous

>Un T2 2019 encore plus difficile que le T1 pour Steel Division - Pour la division Steel (42% de l’EBITDA 2018-19), le T2 devrait être en baisse : 1 / en raison de la saisonnalité (baisse des volumes) ; 2 / d’un prix réalisé légèrement inférieur séquentiellement (les ventes sous contrats limitent la baisse) et 3 / des coûts d’intrants nettement plus élevés (décalage de 4/5 mois) en raison notamment de la hausse du prix du minerai de fer. La bonne nouvelle est que le p...

Alain William

Voestalpine : Full-year guidance unlikely to be reached in our view

>Q2 2019 even more challenging than Q1 for the steel division - For the Steel division (42% of 2018-19 EBITDA), Q2 is likely to be down: 1/ due to a seasonal impact (reduction in volumes); 2/ slightly lower prices on a sequential basis (decline limited by contractual sales); and 3/ clearly higher raw materials’ costs (lag of 4-5 months) due to an increase in iron ore prices. The good news is that the price of iron ore has started to decline (around $ 96/t vs a peak of...

Alain William

Voestalpine : L’atteinte de la guidance annuelle est peu probable selon nous

>Un T2 2019 encore plus difficile que le T1 pour Steel Division - Pour la division Steel (42% de l’EBITDA 2018-19), le T2 devrait être en baisse : 1 / en raison de la saisonnalité (baisse des volumes) ; 2 / d’un prix réalisé légèrement inférieur séquentiellement (les ventes sous contrats limitent la baisse) et 3 / des coûts d’intrants nettement plus élevés (décalage de 4/5 mois) en raison notamment de la hausse du prix du minerai de fer. La bonne nouvelle est que le p...

Alain William

Voestalpine : Q1 2019-20 in line but confidence in reaching full-year guidance seems to wane

>The facts: Q1 2019-20 in line with consensus expectations - Voestalpine’s Q1 2019-20 EBITDA came in at € 370.9m (vs € 513m in Q1 2018-19). This is perfectly in line with the consensus (€ 370m) and ahead of ODDO BHF’s (€ 339m) expectations. Over the period, the group was confronted with 1/ a slight in delivery volumes, 2/ the increases in both iron ore prices and CO2 emission certificates, and 3/ the start-up costs at the group’s automotive plant in Cartersville (US)....

Alain William

Voestalpine : Q1 2019-20 in line but confidence in reaching full-year guidance seems to wane

>The facts: Q1 2019-20 in line with consensus expectations - Voestalpine’s Q1 2019-20 EBITDA came in at € 370.9m (vs € 513m in Q1 2018-19). This is perfectly in line with the consensus (€ 370m) and ahead of ODDO BHF’s (€ 339m) expectations. Over the period, the group was confronted with 1/ a slight in delivery volumes, 2/ the increases in both iron ore prices and CO2 emission certificates, and 3/ the start-up costs at the group’s automotive plant in Cartersville (US)....

Alain William

ODDO : Still no light at the end of the tunnel

After the strong margin compression in H1 2019, European steelmaker fundamentals are likely to remain complicated in H2. The lack of visibility as to the timing of a recovery is likely to deter investors from returning to the segment despite historically low valuations. We reiterate our Buy rating on ArcelorMittal, which is the most exposed to spot prices (“the first to pick up”). Conversely, we downgrade Voestalpine, which fully played its role as the most defensive stock in the...

1 director bought

A director at Voestalpine Ag bought 2,000 shares at 23.100EUR and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boar...

Alain William ...
  • Anis Zgaya
  • Baptiste Lebacq
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 08/08/2019

...

Alain William ...
  • Anis Zgaya
  • Baptiste Lebacq
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 08/08/2019

...

Alain William ...
  • Christophe Chaput
  • Hela Zarrouk
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 08/07/2019

...

Alain William ...
  • Christophe Chaput
  • Hela Zarrouk
  • Michael Foundoukidis

ODDO BHF Small & MIDCAP MORNING NEWS - 07/08/2019

...

Alain William ...
  • Alfred Glaser
  • Delphine Brault
  • Johanna Jourdain
  • Matthias Desmarais
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/09/2019

While we were expecting a slowdown in the IT services market, the Q1 earnings releases were reassuring, with growth maintained at +4.0% year-on-year. Moreover, the leading indicators improved significantly in recent quarters, which reassures us about the outlook. The sector’s valuation levels have eased, which offers an attractive entry point and is conducive to M&A. Our preference goes to Devoteam, in addition to Atos and Capgemini for which we have revised up our target prices. - Cf....

VOESTALPINE AG sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of VOESTALPINE AG (AT), active in the Steel industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date July 9, 2019, the closing price was EUR 25.54 and its target price was estimated at EUR 21.95.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

VOESTALPINE, 03 July 2019

Item 4: We recommend to oppose the discharge of the Supervisory Board as we have concerns over the Management Board's remuneration system - both regarding transparency and content. Items 6.1-6.8: We recommend to oppose the (re-)election of all candidates to the Supervisory Board due to independence concerns, concerns over aggregate time commitments and/or over insufficient information provided about the candidates. Items 9 and 11: We recommend to oppose the creation of a new authorised and a new conditional capital as the potential dilution level may exceed our guidelines.  

VOESTALPINE – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

PROXY REPORT 04/07/2018

Item 4: Since there is no vote on Management Board members' remuneration in Austria, we take the opportunity to voice our concerns regarding the remuneration system currently in place at Voestalpine AG which we consider has several shortcomings: The maximum short-term incentive may reach as much as 250% of base salary for the CEO and 200% of base salary for the other Management Board members which exceeds ECGS guidelines. Furthermore, there is no long-term incentive (LTI) in place. Finally with regard to pension benefits, as of financial year 2017/18 in the case of re-appointment of a Manageme...

Expert Corporate Governance Service (ECGS)

Etude l' AG du 05/07/2017

Item 4: Since there is no regular vote on Management Board members' remuneration in Austria, we take the opportunity to voice our concerns regarding the remuneration system for Management Board members currently in place at Voestalpine AG within the discharge of the Supervisory Board: The maximum short-term incentive may reach as much as 250% of base salary for the CEO and 200% of base salary for the other Management Board members which exceeds ECGS guidelines according to which the maximum annual bonus should not exceed 150% of base salary. Furthermore, there is no long-term incentive in plac...

Shelley Moen

Vermilion Int'l Compass: Global Equity Strategy

Weekly summary of Vermilion's global technical equity strategy calls, including sector weightings, from both a top down and bottoms up perspective. For a trial to Vermilion Research visit our website at www.vermilioncap.com or contact our sales team at (952) 922-7500.

Shelley Moen

Insights: Bullish EAFE Stocks

• Today's report is a bottom-up compilation of technically attractive EAFE stocks, with one fundamental kicker: each name is accompanied by positive momentum in their FY EPS estimates... see screen on pages 2-7 • We screened for stocks whose latest EPS estimate is higher than last week's, which in turn is greater than the prior month's estimate. From this list, which was rich in relative leaders, we picked out the names that were either (1) breaking out from, or (2) pulling back to base support levels... see charts on pages 8-25 • Group themes present in this screen: o Metal Miners: Steel, ...

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