Voestalpine's stock soars 103% in a year after key contract wins and divestment
Voestalpine witnessed its share price escalate to €42.70 on a robust day for stock market stocks. The company's market capitalization now stands at €7.32 billion, bolstered by recent gains and a significant stock market contract win. Meanwhile, the broader ATX index surged by 1.55%, concluding at 5,753.5 points.
The steel and technology group has experienced a sharp ascent in its stock market over the past year. Excluding dividends, its shares have soared by 103.14% in the last 12 months. Just in the past seven days, the price leaped by 6.8%.
In late January, Voestalpine agreed to divest its subsidiary Böhler Profil to US-based Kadant Inc. The transaction, still awaiting final clearances, is anticipated to finalize by the end of the 2025/26 financial year. Böhler Profil, headquartered in Bruckbach, Lower Austria, employed around 150 individuals and generated €51.5 million in revenue for 2024/25. The unit specialized in manufacturing industrial knife profiles for the European stock market. The sale aligns with Voestalpine's strategy to streamline operations and reduce complexity.
Earlier in January, the company also clinched a €41 million contract. The project involves delivering high-bay warehouse systems for a site in Istanbul. This victory contributes to the firm's recent stock market momentum.
Voestalpine's CEO has also advocated for alterations to CO₂ certificate policies. The current regulations, according to the company, threaten to drive industrial production out of Europe.
The sale of Böhler Profil and the new Istanbul contract underscore Voestalpine's drive to refocus its business. With stock market up markedly over the past year, the company's market stance remains robust. Final approval for the subsidiary divestment is expected by the end of the 2025/26 financial year.
