Latest news with #Voestalpine
Business Insider
4 days ago
- Business
- Business Insider
Voestalpine price target lowered to EUR 24.30 from EUR 25 at JPMorgan
JPMorgan analyst Dominic O'Kane lowered the firm's price target on Voestalpine (VLPNY) to EUR 24.30 from EUR 25 and keeps a Neutral rating on the shares. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Bloomberg
6 days ago
- Business
- Bloomberg
Trump's Higher Steel Tariffs Sour Mood at Deal-Making Table
President Donald Trump's doubling of US tariffs on steel and aluminum imports to 50% is fanning trade tensions at a time when Washington is negotiating with several economies that also face his so-called 'reciprocal' duties set to kick in July 9. In Europe, the fallout Wednesday was quickly heard in a warning from Voestalpine, an Austrian steelmaker that missed profit expectations for the past fiscal year because of soft economic activity in Europe.
Yahoo
7 days ago
- Automotive
- Yahoo
Austria's Voestalpine forecasts small profit rise, dented by tariffs
(Reuters) -Austrian speciality steelmaker Voestalpine forecast a small rise in its annual core earnings on Wednesday, which it said included a direct hit from U.S. tariffs and a high level of uncertainty due to the trade war. President Donald Trump's tariffs are expected to have a direct negative impact on earnings in a mid-double-digit million euro range during the business year that started on April 1, Voestalpine said in its annual report. The steel producer, which predominantly supplies the automotive industry, forecast earnings before interest, taxes, depreciation and amortization (EBITDA) of between 1.4 billion euros and 1.55 billion euros ($1.59 billion and $1.76 billion) for the year. That compares to 1.35 billion euros in the previous year and analysts' mean estimate of 1.5 billion euros in an LSEG poll. Voestalpine also reported lower full-year revenue, weighed down by a difficult economic environment and its reorganization measures. It said those measures should boost its core earnings in the coming year. Its annual revenue fell to 15.7 billion euros from 16.68 billion a year earlier. Analysts polled by LSEG had expected a smaller drop to 15.85 billion euros. ($1 = 0.8800 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Revolutionary new plant aims to solve harmful issue with traditional steelmaking: 'A compelling alternative'
The mining company Rio Tinto is supplying Austrian steelmaker Voestalpine with 70% of the iron needed for a new steel-making plant that doesn't create harmful emissions. According to Reuters, Primetals Technologies will supply the new steel-making technology. Instead of burning coal, the Austrian plant will use hydrogen. This has the potential to cut harmful emissions from steel manufacturing. The new plant is receiving funding from the Austrian government and European Union programs, and it is also supported by the Mitsubishi Corporation. It will be built at Voestalpine's Linz site in Austria, and the operations are planned to begin mid-2027. According to ESG News, the iron provided by Rio Tinto will come from its operations in Pilbara in Australia and Simandou in the Republic of Guinea, as well as other mining locations. The iron will be used to make steel via a hydrogen-based fine-ore reduction process and smelter. These technologies don't require coal. Traditional steel-making uses oxygen furnaces or electric arc furnaces. These processes either use coal or limit what kinds of raw materials can be used. The HYFOR process will cut energy consumption and cost, producing steel efficiently and affordably. This can make construction projects cheaper, resulting in lower property prices. The steel industry also has a massive carbon footprint. According to Sustainable Ships, 1.4 tons of carbon emissions are released into the atmosphere per ton of steel produced. This revolutionary process could eliminate the most dangerous emissions from the industry, making steel more sustainable. The prototype plant will help make a cleaner future and a healthier planet for everyone. Thomas Apffel, the general manager of steel decarbonisation at Rio Tinto, said this "solution presents a compelling alternative to shaft furnace technology," per ESG News. Herbert Eibensteiner, the CEO of Voestalpine AG, stated, "Together with Primetals Technologies and Rio Tinto, we are taking an entirely new and promising approach to research into hydrogen-based pig iron production." Do you think the U.S. should tax goods from China? Definitely No way Only certain goods I'm not sure Click your choice to see results and speak your mind. Alexander Fleischanderl, the chief technical officer and head of green steel at Primetals Technologies, also expressed excitement over the new technology, saying, "This project represents a significant advancement in future-proof ironmaking." Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Reuters
08-04-2025
- Business
- Reuters
Rio Tinto to supply 70% of iron for zero-carbon steel plant in Austria
April 8 (Reuters) - Rio Tinto ( opens new tab will supply 70% of the iron ore for a new hydrogen-based steelmaking plant being developed with Austrian steelmaker Voestalpine ( opens new tab and steel-making technology provider Primetals Technologies, the companies said on Tuesday. The test facility, to be constructed at Voestalpine's Linz site, will have a capacity of three tons of metal per hour, will utilize hydrogen instead of coal to process iron ore, potentially eliminating carbon emissions from the steelmaking process. Rio Tinto will contribute technical expertise regarding iron ore quality while supplying 70% of the raw material from its global operations for the prototype plant and will aid in accelerating the technology's market readiness. The technology permits iron ore to be used directly without first forming it into pellets, which could reduce costs and energy consumption. The project, also supported by Mitsubishi Corporation (8058.T), opens new tab, is set to begin operations in mid-2027 and has secured funding from the Austrian government and European Union programs, according to the statement.
