Voestalpine has blamed lower earnings for its 2018/2019 financial year on an economic slowdown caused by trade wars between the United States, China and Europe, as well as Brexit, chairman Wolfgang Eder said.
Looking forward, macroeconomic developments will depend on the extent to which these external factors continue to affect consumer spending patterns in Europe and beyond, the Austria-based steelmaker warned in a financial results announcement on Wednesday June 5.Since the company has no influence on these factors, any guidance issued on its expected performance in the financial year 2019/2020 would not have any basis in fact, the company also said."While the group succeeded against the backdrop...