Welcome to our dedicated page for Outokumpo Oy news (Ticker: OUTKY), a resource for investors and traders seeking the latest updates and insights on Outokumpo Oy stock.
Outokumpo Oy (OUTKY) is a global leader in sustainable stainless steel production, recognized for its integrated manufacturing processes and industry-leading decarbonization efforts. This page serves as a comprehensive resource for investors and stakeholders seeking official updates on the company's financial performance, environmental initiatives, and market developments.
Access timely updates including earnings reports, sustainability progress, strategic partnerships, and operational milestones. Our curated collection ensures transparent access to press releases and verified news covering production innovations, raw material strategies, and environmental stewardship commitments.
Key updates include financial disclosures, emissions reduction targets, product development announcements, and leadership changes. Bookmark this page to stay informed about Outokumpo's advancements in low-carbon steel production and its position within the global industrial metals sector.
On September 15, 2022, Moody's affirmed Outokumpu Oyj's Ba3 corporate family rating and upgraded its outlook to positive from stable. CFO Pia Aaltonen-Forsell highlighted the company's improved financial positioning, marked by reduced net debt and enhanced profitability, while maintaining liquidity. This rating is the highest credit rating for Outokumpu since attaining Moody's rating in 2016, indicating a stronger resilience in challenging economic environments.
Outokumpu has successfully completed the first phase of its strategy, focusing on de-risking and strengthening its balance sheet, achieving a EUR 250 million EBITDA run-rate improvement and reducing its net debt to EBITDA ratio below 3.0. The company is set to enter the second phase, emphasizing sustainability and productivity, with a target to reduce CO2 emissions by 14% by 2025. Updated financial targets include maintaining net debt to EBITDA below 1.0 and an EBITDA improvement of EUR 200 million, alongside a commitment to stable shareholder returns.
Outokumpu reported strong Q1 2022 results, with stainless steel deliveries reaching 647,000 tonnes, up from 608,000 tonnes a year ago. Sales surged to EUR 2,760 million, compared to EUR 1,673 million in Q1 2021. Adjusted EBITDA increased to EUR 377 million, significantly higher than EUR 177 million in the same quarter last year. The net result was EUR 251 million, up from EUR 82 million. Notably, net debt decreased to EUR 294 million, down from EUR 408 million at the end of 2021. The company expects continued strong performance in Q2 2022.
Outokumpu plans to release its Q1 2022 interim report on May 5, 2022, at approximately 9:00 am EEST. Following the report, a live webcast and conference call for analysts, investors, and media representatives will occur at 3:00 pm EEST. Hosted by President and CEO Heikki Malinen and CFO Pia Aaltonen-Forsell, the event will allow participants to ask questions via a conference call. Further details and materials will be available on Outokumpu's investor page.
Outokumpu Oyj has announced its Annual General Meeting scheduled for March 31, 2022, to be conducted virtually to prevent COVID-19 transmission. Shareholders can vote in advance and submit questions. Key agenda items include the adoption of the annual accounts, a proposed dividend of EUR 0.15, and the election of a new Board member.
Notably, the Board seeks authorization for share repurchase up to 45 million shares and to issue new shares, representing approximately 9.85% of total shares. The total number of shares is 456,874,448.
Outokumpu has released its Annual Report 2021, available in both English and Finnish, which includes a Sustainability Review, Corporate Governance Statement, Remuneration Report, and Financial Statements. The report complies with European Single Electronic Format (ESEF) requirements and features assured financial statements. The sustainability review aligns with the Global Reporting Initiative and Task Force on Climate-related Financial Disclosures frameworks. All reports are accessible via Outokumpu’s website.
Outokumpu reported strong financial performance for 2021, with stainless steel deliveries reaching 2,395,000 tonnes, a 13% increase compared to 2020. Adjusted EBITDA soared to EUR 1,021 million, up from EUR 250 million. Q4 sales hit EUR 2,215 million, significantly higher than Q4 2020's EUR 1,350 million. Net debt decreased to EUR 408 million, with a proposed dividend of EUR 0.15 per share. However, profitability faced challenges from rising energy and consumable prices. The company expects increased stainless steel deliveries for Q1 2022.
Outokumpu Oyj announced that it will release its Financial Statements for 2021 on February 8, 2022, at around 9.00 am EET. A live webcast and conference call for investors will follow at 3.00 pm EET, hosted by Heikki Malinen and Pia Aaltonen-Forsell. Participants can join via a conference call by dialing in 5–10 minutes prior to the event. The event will be accessible online, and recordings will be available afterwards through the company's investor relations page.
Outokumpu has announced the initiation of its share-based programs for the period 2022–2024, including the Performance Share Plan and the Restricted Share Pool. The plans, commencing in early 2022, allow for a maximum of 150 participants with a total allocation of 3,700,000 shares. Additionally, 10,950 shares from the 2019–2021 Restricted Share Pool will be awarded to Pia Aaltonen-Forsell in December 2021, ahead of the scheduled delivery in spring 2022. More details on the programs are available on Outokumpu's investor relations website.
Outokumpu announced its financial reporting schedule for 2022. The key dates include the Financial Statements release on February 8, 2022, the Interim Report for Q1 on May 5, 2022, the Half-year Report on August 4, 2022, and the Interim Report for Q3 on November 3, 2022. Additionally, the Annual Report for 2021 will be released in week 9, and the Annual General Meeting is tentatively set for March 31, 2022. The Board will finalize the meeting details later.
