Management admits that its medium-term revenue goal of €20bn revenue in 2020 will not be reached. The new guidance is for around €15bn which we find much more realistic and is possible as it suggests an annual sales growth rate of 6% from the end of the last fiscal year through to 2019/20. ‘We have been too optimistic’, the CEO has admitted. As falling raw material prices have to be passed on to clients, the group needs another cost reduction programme (on top of the &eu
17 Dec 2015
Voestalpine intensifies cost reduction efforts
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Voestalpine intensifies cost reduction efforts
voestalpine AG (VOE:WBO) | 0 0 0.0% | Mkt Cap: 8,355m
- Published:
17 Dec 2015 -
Author:
Hans-Peter Wodniok - Pages:
Management admits that its medium-term revenue goal of €20bn revenue in 2020 will not be reached. The new guidance is for around €15bn which we find much more realistic and is possible as it suggests an annual sales growth rate of 6% from the end of the last fiscal year through to 2019/20. ‘We have been too optimistic’, the CEO has admitted. As falling raw material prices have to be passed on to clients, the group needs another cost reduction programme (on top of the &eu