Voestalpine completes Donawitz furnace. UBS lifts target for Voestalpine stock to EUR 64.00.

Published on 10/19/2026 at 09:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Donawitz commissioning supports Voestalpine's steel shift. Voestalpine stock costs EUR 44.11 on October 19, 2026, 0.79 percent below Xetra.

Transformation and results calendar

Voestalpine began cold commissioning after the Donawitz furnace installation on October 12, 2026, with planned annual capacity of 850,000 tons.
Fiscal year 2025/26 revenue was EUR 15.1 billion and operating EBITDA was EUR 1.5 billion.
Voestalpine stock trades at EUR 44.11 at 9:06 a.m. CEST at Lang & Schwarz on October 19, 2026, 0.79 percent below the Xetra close of October 16, 2026.
UBS raised its Voestalpine target from EUR 49.00 to EUR 64.00 on October 9, 2026.
Voestalpine is scheduled to publish first-half results on November 11, 2026.

Voestalpine, AT0000937503, Illustration mit AI erstellt.

Voestalpine (ISIN AT0000937503) was trading at EUR 44.11 at Lang & Schwarz on October 19, 2026, at 9:06 a.m. CEST, 0.79 percent below the Xetra close of October 16, 2026 at EUR 44.46. The company had largely completed installation of its new electric arc furnace in Donawitz by October 12, while UBS had raised its rating and price target on October 9.

According to voestalpine, cold commissioning has begun at the Donawitz site. Partial production is planned to switch to electrified steelmaking in the first half of 2027, with annual capacity of 850,000 tons of reduced-carbon steel once the furnace is fully operational.

Steel conversion reaches a test phase

The Donawitz project is moving from construction into system testing. The company said the key electrical, hydraulic, cooling and automation systems are now being checked as an integrated installation, while major construction and installation work is scheduled to finish in 2026.

What does the growth plan add?

Voestalpine's wider strategy adds a quantified rail expansion target. At its September 22 Capital Markets Day, the company said Railway Systems revenue is expected to rise from EUR 2.2 billion to EUR 3.0 billion by 2030/31, according to voestalpine. The division also includes the Rail Baltica project, which the company valued at EUR 470 million.

For the completed fiscal year 2025/26, revenue stood at EUR 15.1 billion and operating EBITDA at EUR 1.5 billion, as stated in the company's investor-relations material. That places the furnace investment within a broader shift toward higher-value processing activities.

Analyst target moves above the quote

UBS upgraded Voestalpine from Neutral to Buy and lifted its target from EUR 49.00 to EUR 64.00 on October 9, 2026, according to Markets Insider. The bank cited higher steel prices and tighter supply, while the target change remains an analyst assessment rather than a company forecast.

Next results arrive in November

The next dated catalyst is the first-half report for fiscal year 2026/27, scheduled for November 11, 2026, according to 6ix. The first new melts at Donawitz and Linz are planned for the first half of 2027, making execution and early production data the next operational test.

Voestalpine stock stays below the Xetra close

The morning quote leaves the stock below the October 16 Xetra close, even as the longer-term strategy carries concrete production and revenue milestones.

Voestalpine stock was trading at EUR 44.11 at Lang & Schwarz on October 19, 2026, at 9:06 a.m. CEST, 0.79 percent below the Xetra close of October 16, 2026 at EUR 44.46. The further course of trading is shown by the continuously updated real-time quote of Voestalpine stock.