Finland-based stainless steel producer Outokumpu has announced its financial results for the fourth quarter and full year of 2025.
In the given quarter, the company registered a net loss of €65 million, compared to a net loss of €35 million in the previous quarter and a net loss of €32 million in the same quarter of 2024, while its sales revenues declined by 10.6 percent quarter on quarter and by 17.4 percent year on year to €1.16 billion. In the fourth quarter of 2024, the company’s adjusted EBITDA was €10 million, compared to €34 million in the third quarter and €3 million of an EBITDA loss in the same quarter of 2024.
In the full year, Outokumpu reported a net loss of €137 million, compared to a net loss of €40 million in the previous year, while its sales revenues amounted to €5.47 billion, falling by 7.9 percent year on year. In 2025, the company’s adjusted EBITDA came to €167 million, compared to €177 billion in 2024.
In the meantime, the company’s stainless steel deliveries in the fourth quarter amounted to 365,000 mt, moving down by 15.5 percent quarter on quarter and 13.5 percent from the same quarter of the previous year. In 2025, stainless steel deliveries came to 1.75 million mt, declining by 2.3 percent year on year.
Weak stainless steel demand weighs on 2025 profitability
According to Outokumpu, stainless steel demand remained weak in 2025 amid global trade disruptions and rising uncertainty, weighing on profitability. Despite this, the company advanced key strategic priorities, including circularity, smart decarbonization, and securing sustainable, cost-effective raw materials, strengthening its position as a sustainability leader as CBAM and the EU ETS reshape competition.
The market recovery in Europe and North America was slower than expected, with Europe additionally pressured by low-priced Asian imports. Adjusted EBITDA for 2025 was slightly below the previous year, mainly due to weaker performance in Europe and temporary supply chain challenges in the fourth quarter. In contrast, the Americas posted significantly higher adjusted EBITDA on stronger volumes and lower costs, supported by tariff-driven order shifts and a recovery in US prices in the second half.
Q1 2026 outlook - deliveries and EBITDA expected to recover
For the first quarter of 2026, adjusted EBITDA is expected to increase quarter on quarter, supported by a projected 20-30 percent rise in stainless steel deliveries compared to the fourth quarter of 2025, reflecting seasonal recovery and normalization in Europe.
