© Outokumpu
© Outokumpu

Outokumpu finishes year in loss, projects slow recovery

2024-02-10 Producer News Europe
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The financial performance of Outokumpu for Q4 and the entire year of 2023 presents a mixed picture of resilience and challenges amid a persisting harsh market environment.
In Q4/2023, Outokumpu's sales amounted to EUR 1,513 million, down 1% compared to the previous quarter and a 20% year-on-year. Adjusted EBITDA improved to EUR 72 million, up 41% increase quarter-on-quarter, but was 35% lower than a year ago. In the fourth quarter, consolidated stainless steel deliveries were relatively stable, totaling 450 kt.

The full year saw sales drop by 27% to EUR 6,961 million, with adjusted EBITDA at EUR 517 million (-59% y-o-y), reflecting the weak market's impact on the company. Stainless steel deliveries for the year totaled 1.9 million tonnes, reflecting a 10% decrease from the previous year as a direct result of the softened demand in Outokumpu's key markets. Continue Reading? Please click box below!

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