Outokumpu Corporation
Inside information
December 12, 2024 at 9.40 pm EET
According to the guidance given on October 30, 2024, Outokumpu's adjusted EBITDA in the fourth quarter of 2024 is expected to be lower compared to the third quarter (Q3/24: EUR 86 million). Due to recent adverse development in business area Europe, group adjusted EBITDA is expected to be close to break-even or turn negative for the fourth quarter. This is driven by the weaker-than-expected stainless steel market, longer than planned annual maintenance break at the Tornio site in Finland and a negative inventory value impact.
Outokumpu's stainless steel deliveries in the fourth quarter are expected to decrease by 0-10% compared to the third quarter, as stated in the outlook, but to be closer to the lower end of the given range.
Outokumpu's fourth-quarter 2024 adjusted EBITDA guidance remains lower compared to the third quarter. *)
Outokumpu will publish its full year 2024 results on February 13, 2025.
*) Outokumpu uses three ways to guide for its adjusted EBITDA - lower, similar level, higher.
For more information:
Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669
Media: Päivi Allenius, SVP - Brand and Communications, tel. +358 40 753 7374, or media desk, +358 40 351 9840, email: media(at)Outokumpu.com
Outokumpu is accelerating the green transition as the global leader in sustainable stainless steel. Our business is based on the circular economy: our products are made from 95% recycled materials, which we then turn into fully recyclable stainless steel. This steel is utilized in various applications across society, including infrastructure, mobility, and household appliances. We are committed to 1.5°C target to mitigate climate change, and with up to 75% lower carbon footprint than the industry average, we support our customers to reduce their emissions. Together, we are working towards a world that lasts forever. Outokumpu Corporation employs approximately 8,500 professionals in close to 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. Read more: www.outokumpu.com
