According to report, Austrian steel material maker Voestapline AG said it would cut the full year earnings outlook for 2012-13 by€100 million even though its developments met its expectation.

Voestalpine’s estimation now for operation profit is €1.4 billion, from earlier estimation of €1.5 billion.

The company sees the uncertainty of global economic environment. Although the aviation industry and agricultural machine building sectors are relatively stable, sectors like automotive, mechanical engineering and energy industries are facing pressure.

The EBITDA of the first half of fiscal 2012-13 dropped by 11.5% but revenue rose by 0.8% from the same period one year ago.