Outokumpu Oyj (OUTA.BE)
- Reuters
Finnish steelmaker Outokumpu sees European recovery continuing
Finnish stainless steel maker Outokumpu beat fourth-quarter earnings expectations on Thursday and said it expected the recovery in its European business to continue after a slowdown bottomed out in the third quarter. "Recovery has not yet been strong enough to really come back to previous, more normal profit levels broadly in Europe, but we have seen some recovery," Chief Financial Officer Pia Aaltonen-Forsell told Reuters. But the company said it saw a slow recovery in Europe in the fourth quarter, and expected it to continue in 2024.
- PR Newswire
EcoVadis ranks Outokumpu among the top 1% of companies assessed with a Platinum rating
Outokumpu, the global leader in sustainable stainless steel, has received the highest Platinum level recognition from the sustainability rating platform EcoVadis. Today, Outokumpu ranks among the top 1% of more than 100,000 companies assessed based on its strong performance in sustainability. This is not the first time Outokumpu receives the Platinum recognition, but this year, Outokumpu scored its all-time high points.
- Reuters
Outokumpu to cut German jobs as weak steel markets hit earnings
HELSINKI (Reuters) -Finnish stainless steelmaker Outokumpu said on Tuesday it would cut around 200 of its 1,900 jobs in Germany as it reported an 83% fall in third-quarter core profit. Weak European steel markets and low prices have been weighing on the profits of steelmakers for the past year, after hitting record levels in 2021 and 2022. Outokumpu, which produces stainless steel from recycled scrap, said it would restructure its German operations by centralising advanced materials production from Dahlerbruck to its Dillenburg plant by the end of 2024.
