OUTOKUMPU GRANTED 25 MILLION EUROS RELIEF FROM THE GERMAN RENEWABLE ENERGY CHARGE FOR 2013

outokumpu logo newOutokumpu is subject to the renewable energy charge applied to all companies operating in Germany. As an energy intensive company facing global competition, Outokumpu is entitled to a reduction of these charges.

For the year 2013 this reduction was initially denied by the German authorities. After a constructive dialogue and a clarification of Outokumpu’s application and appeal, Outokumpu has now received a reduction to the applicable German renewable energy charge for the year 2013. At the same time, similar reduction was granted for 2014.

The renewable energy charge reduction results to a 25 million euros’ relief on energy costs for the entities in Germany for 2013. Outokumpu will book this refund in its fourth quarter accounts and it has a positive impact on the Group’s EBIT in the fourth quarter.

Outokumpu Group

Outokumpu is the global leader in stainless steel and high performance alloys. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs more than 15 000 professionals in more than 40 countries, with headquarters in Espoo, Finland and shares listed in the NASDAQ OMX Helsinki. www.outokumpu.com