Finland-based stainless steel producer Outokumpu has announced its financial results for the second quarter and the first half of the current year.
The company registered a net loss of €19 million in the second quarter compared to a net loss of €5 million in the same quarter last year and a net loss of €18 million in the previous quarter. In the given quarter, the company’s sales revenues decreased by 3.5 percent year on year and were down by 2.5 percent quarter on quarter to €1.49 billion. In the second quarter this year, the company’s adjusted EBITDA was €75 million, compared to €56 million in the same quarter of last year.
In the first half of this year, the company registered a net loss of €37 million compared to a net loss of €28 million in the same half of the previous year, while the company’s sales revenues in the first half of this year fell by 0.3 percent year on year to €3.01 billion. In the given period, Outokumpu’s adjusted EBITDA was €124 million, compared to €94 million in the first half of 2024.
Outokumpu’s stainless steel deliveries in the second quarter this year increased by 2.2 percent year on year to 483,000 mt, while in the first half of this year the company’s stainless steel deliveries rose by 4.5 percent year on year to 953,000 mt.
Outokumpu expects its stainless steel deliveries in the third quarter to decrease by 5-15 percent compared to the second quarter, due to seasonality and market weakness. Meanwhile, pressure on realized stainless steel prices is expected to continue in Europe during the third quarter. The company forecasts its adjusted EBITDA in the third quarter to be €10 million lower quarter on quarter.