You are here: Home > Steel News > Latest Steel News > Outokumpu...

Outokumpu posts increase in sales for 2022

Friday, 10 February 2023 13:48:53 (GMT+3)   |   Istanbul
       

Finland-based stainless steel producer Outokumpu has announced its financial results for the fourth quarter and full year of 2022.

The company registered a net profit of €312 million in the fourth quarter compared to a net profit of €150 million in the same quarter last year and a net profit of €207 million in the previous quarter. In the given quarter, the company’s sales revenues decreased by 9.3 percent year on year and by 19.2 percent quarter on quarter to €1.89 billion. In the fourth quarter this year, the company’s adjusted EBITDA was €110 million, compared to an EBITDA of €312 million in the same quarter of the previous year.

For the whole of 2022, the company registered a net profit of €1.08 billion compared to a net profit of €526 million in the previous year, while the company’s sales revenues last year rose by 31 percent year on year to €9.5 billion. In the given period, Outokumpu’s adjusted EBITDA was €1.25 billion, compared to €968 million in 2021.

Outokumpu’s stainless steel deliveries in the fourth quarter this year decreased by 18 percent year on year and were down by 8.3 percent quarter on quarter to 450,000 mt, while in the full year the company’s stainless steel deliveries fell by seven percent year on year to 2.1 million mt.

According to Outokumpu, stainless steel deliveries in the first quarter of 2023 are expected to increase by 10–20 percent compared to the fourth quarter. Ferrochrome production continues at 50–60 percent of its full capacity as a result of the planned optimization due to high electricity prices and recent disruptions at one of the company’s three furnaces. Inflation in energy and consumable prices is expected to continue in the first quarter.


Similar articles

China’s stainless steel exports up 19.75 percent in Jan-Sept

04 Nov | Steel News

Flat steel prices in local Taiwanese market - week 44, 2024

31 Oct | Flats and Slab

Local Chinese stainless steel prices fluctuate slightly

30 Oct | Flats and Slab

Ex-China stainless steel prices move sideways

29 Oct | Flats and Slab

Flat steel prices in local Taiwanese market - week 43, 2024

24 Oct | Flats and Slab

Local Chinese stainless steel prices decrease amid weaker costs

24 Oct | Flats and Slab

Global stainless steel output up 6.3 percent in H1

23 Oct | Steel News

Ex-China stainless steel prices edge down

22 Oct | Flats and Slab

Flat steel prices in local Taiwanese market - week 42, 2024

17 Oct | Flats and Slab

Local Chinese stainless steel prices mostly soften slightly

16 Oct | Flats and Slab