Outokumpu upgrades guidance for Q4

Tuesday, 15 December 2020 12:34:53 (GMT+3)   |   Istanbul

Finland-based stainless steel producer Outokumpu has announced that it upgraded its guidance for the fourth quarter this year as the adjusted EBITDA is expected to be higher compared to the third quarter.

Outokumpu’s stainless steel deliveries are estimated to increase by approximately 5-10 percent amid the stronger-than-expected market recovery.

The result is also expected to be supported by improved cost-efficiency and positive raw material impacts.

In the third quarter this year, Outokumpu registered a net loss of €63 million and sales revenues of €1.25 billion. In the given quarter, the company’s adjusted EBITDA was €22 million. According to the company’s previous guidance, the company’s adjusted EBITDA in the fourth quarter was expected to remain at the same level compared to the third quarter, while its stainless steel deliveries were expected to remain stable in the fourth quarter compared to the previous quarter.

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