Outokumpu, a leading stainless steel producer, has issued its fourth-quarter guidance, anticipating a decline in earnings before interest, taxes, depreciation, and amortization (EBITDA) compared to the previous quarter.
The company reported an adjusted EBITDA of EUR 86 mln (USD 87.5 mln) in Q3 2024. However, for Q4 2024, adjusted EBITDA is projected to be close to break-even or potentially negative. Outokumpu attributed this outlook to several factors, including weaker-than-expected stainless steel market conditions, an extended annual maintenance shutdown at its Tornio site in Finland, and a negative inventory valuation impact.
Stainless steel deliveries for Q4 are expected to decrease by 0-10pct compared to Q3, with the company indicating that volumes are likely to fall closer to the lower end of this range.
1 USD / 0.95 EUR
