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Outokumpu Oyj (OUT1V.HE)

OUT1V.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Solidium cuts stake to 24.32 pct in Outokumpu
Monday, 13 Feb 2017 04:00am EST 

Outokumpu Oyj : Solidium oy's total holding in shares and voting rights of Outokumpu Oyj decreases below 25 percent threshold and is 24.32 percent on Feb. 10 .Solidium's earlier total holding in Outokumpu was 29.9 percent.  Full Article

Outokumpu delivers steel for renovating Söderströmsbron bridge in Stockholm
Monday, 6 Feb 2017 03:00am EST 

Outokumpu Oyj : Delivers 600 tonnes of Forta LDX2404 stainless steel for renovating Söderströmsbron in Stockholm, Sweden .Old bridge beams underneath rails are being replaced by stainless steel structure within timeline of two years in 2017–2018.  Full Article

Outokumpu to start repurchase of its own shares
Thursday, 2 Feb 2017 06:30am EST 

Outokumpu Oyj : Stars repurchase of its own shares . Maximum number of shares to be repurchased in one or more instalments is 2,000,000 corresponding to about 0.48 pct of total Outokumpu shares .Share repurchases will commence on Feb. 3, 2017 at earliest.  Full Article

Outokumpu Q4 underlying EBIT EUR 38 mln, beats expectations
Thursday, 2 Feb 2017 05:00am EST 

Outokumpu Oyj : Q4 sales 1.51 billion euros ($1.63 billion) (Reuters poll 1.44 billion euros) . Q4 underlying EBIT 38 million euros (Reuters poll 36.6 million euros) . Says EBITDA is expected to be over 250 million euros in Q1 of 2017 . Proposes a dividend of 0.10 euro per share for 2016. . Says stainless steel market is expected to be strong in Q1 with healthy underlying demand in both europe and US . Says updates its 2017 net debt target and expects net debt to be below 1.1 billion euros at end of 2017 . Says first-quarter delivery volumes are expected to be higher in Europe, and significantly higher in Americas compared to Q4 of 2016 . Says cost saving initiatives are expected to continue according to plans and contribute positively in Q1 .Says higher ferrochrome contract price will have a significant positive impact on business area Europe's profitability.  Full Article

Outokumpu wins stainless steel rebar order in Kuwait
Monday, 16 Jan 2017 03:00am EST 

Outokumpu Oyj : Wins stainless steel rebar order for highway bridge project in Kuwait . Contract is with Hyundai Engineering & Construction <000720.KS> of South Korea . Deliveries started beginning of 2016 and will continue through 2017 .Will supply stainless steel rebar in grade Forta DX 2304 from the Bar Mill in Sheffield, UK.  Full Article

Outokumpu and Outotec reach agreement on patent dispute
Monday, 9 Jan 2017 08:00am EST 

Outokumpu Oyj : Outokumpu Oyj and Outotec Oyj reach an agreement on the patent dispute . Agreement follows arbitral award of August 28, 2015 which confirmed that Outokumpu and Outotec are joint owners of disputed innovations .Agreement and related license fees have no impact on Outokumpu's financial guidance or targets.  Full Article

Outokumpu Q2 underlying EBIT loss narrows more than expected
Tuesday, 26 Jul 2016 05:00am EDT 

Outokumpu Oyj : Q2 sales 1.38 billion euros ($1.52 billion) versus Reuters poll 1.46 billion euros . Q2 underlying EBIT loss 5 million euros (Reuters poll loss 12.9 million euros) . Expects sequentially flat delivery volumes for Q3 . Says ferrochrome operations will be impacted by major maintenance work during Q3 . Expects underlying EBIT to turn positive in Q3 .CEO: "While we still have a long way to go to realize our full potential, I am encouraged by the momentum and convinced of our ability to reach our vision and target of 500 million euro EBIT in 2020.  Full Article

Outokumpu's rebar chosen for cryogenic LNG project in Netherlands
Friday, 10 Jun 2016 02:00am EDT 

Outokumpu Oyj : Outokumpu rebar chosen for cryogenic LNG project in the Netherlands .Stainless steel rebar produced by Outokumpu is being used to reinforce a spill basin at new LNG gate terminal on Rotterdam's North Sea coast.  Full Article

Outokumpu to issue EUR 250 million bond
Friday, 10 Jun 2016 01:28am EDT 

Outokumpu Oyj : Said on Thursday intends to issue 250 million euros ($282.43 million) senior secured bond . Issue to be targeted mainly to institutional investors . Bond to mature on June 16, 2021 and to carry fixed coupon interest rate of 7.25 percent per annum, payable semi-annually . Bond is callable before its final maturity .Proceeds to be used primarily for prepayment of financial indebtedness.  Full Article

Outokumpu considers issuance of EUR 200 mln bond
Monday, 6 Jun 2016 03:20am EDT 

Outokumpu Oyj : Considers the issuance of a new bond . Target size of issue is about 200 million euros ($227.02 million) . Proceeds intended to be used primarily for prepayment of financial indebtedness . Potential issue is expected to take place in near future subject to market conditions .Danske Bank A/S and Nordea Bank Finland Plc act as coordinators and lead managers for bond issue.  Full Article

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