Outokumpu increases its financial target on EBITDA run-rate improvement

Rhea-AI Summary

Outokumpu has raised its EBITDA run-rate improvement target from EUR 200 million to EUR 250 million by the end of 2022, reflecting stronger-than-expected progress in its strategic execution initiated in November 2020. The company aims to reduce its net debt to EBITDA ratio below 3.0, continuing its commitment to deleverage. CEO Heikki Malinen stated that the company has identified new measures contributing to this revised target, highlighting a strong momentum in operational improvements.

Positive

• Increased EBITDA run-rate improvement target from EUR 200 million to EUR 250 million.
• Continued commitment to deleveraging beyond initial targets.

Negative

• None.

HELSINKI, Nov. 4, 2021 /PRNewswire/ -- Outokumpu increases its financial target on EBITDA run-rate improvement

Outokumpu launched a new strategy in November 2020 and set financial targets by the end of 2022. The targets included an EBITDA run-rate improvement by EUR 200 million and a reduction of the net debt to EBITDA ratio to below 3.0.

The company has made strong progress in its strategy execution. With a commitment to continue de-risking the company by the end of 2022, Outokumpu increases its initial EBITDA run-rate improvement target from EUR 200 million to EUR 250 million. Deleveraging also continues through the first phase of the strategy beyond the initial leverage target.

Says CEO Heikki Malinen: "Our strategy execution has progressed well and faster than expected. Also, we have identified new and additional measures since we set the targets last year. Given the strong momentum, we decided to increase the target by EUR 50 million to EUR 250 million by the end of 2022."

For more information:

Media: Päivi Allenius, VP - Communications, tel. +358 40 753 7374

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669

Outokumpu Group

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SOURCE Outokumpu Oyj

FAQ

What is Outokumpu's new EBITDA target for 2022?

Outokumpu has increased its EBITDA run-rate improvement target from EUR 200 million to EUR 250 million by the end of 2022.

When did Outokumpu launch its new strategy?

Outokumpu launched its new strategy in November 2020.

What is Outokumpu's target for net debt to EBITDA ratio?

Outokumpu aims to reduce its net debt to EBITDA ratio to below 3.0.

Who is the CEO of Outokumpu?

The CEO of Outokumpu is Heikki Malinen.

What progress has Outokumpu made in its strategy execution?

Outokumpu has made strong progress in its strategy execution, leading to the revision of its EBITDA target.