LINZ (dpa-AFX) - Voestalpine AG (VAS.DE), an Austrian steel and technology group, on Wednesday reported sharply higher earnings for the first quarter, primarily driven by one-off gains.
Profit attributable to equity holders of the parent increased to €194.7 million, or €1.10 per share, from €100.7 million, or €0.58 per share, a year earlier.
The company recorded a gain of about €100 million from the sale of voestalpine BÖHLER Profil and reorganization measures in the High Performance Metals Division.
Earnings before interest and taxes (EBIT) surged to €306.6 million from €171.5 million in the prior-year quarter.
EBITDA rose 37% to €495 million from 361.2 million a year ago.
Revenue increased 2.4% year on year to €3.994 billion from €3.902 billion a year earlier.
Voestalpine shares closed up 4.49% at €48.42 on the Xetra exchange.
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