Tag «CEO Mika Seitovirta»

Outokumpu Annual Accounts Bulletin 2014: Clear improvement in financial performance and debt reduction in 2014, turnaround to profitability continues

Strong operating cash flow and underlying EBIT of EUR -9 million in Q4. Clear improvement in financial performance and debt reduction in 2014, turnaround to profitability continues. Highlights in the fourth quarter 2014 Outokumpu delivered underlying EBIT of EUR -9 million compared to EUR -28 million in the third quarter. Financial performance was negatively impacted …

OUTOKUMPU WINS INTERNATIONAL CHROMIUM DEVELOPMENT ASSOCIATION’S AWARD ON ENVIRONMENTAL ACHIEVEMENTS

OUTOKUMPU OYJ November 7, 2014 at 9 am EET International Chromium Development Association (ICDA) awarded Outokumpu’s Tornio operations in Finland on long-term successful work in waste water treatment and protection of sea environment on November 5, 2014. The award is based on voting of ICDA council and committees. Says CEO Mika Seitovirta: “We are extremely …

OUTOKUMPU – POSITIVE EBIT EXCLUDING NON-RECURRING ITEMS AND OPERATING CASH FLOW IN SEASONALLY SLOW MARKET

OUTOKUMPU OYJ INTERIM REPORT November 5, 2014 at 9.00 am EET Highlights in the third quarter 2014 For the first time since the merger with Inoxum, Outokumpu posted positive EBIT excluding non-recurring items of EUR 3 million. Continued cost savings and higher prices contributed positively, while at the same time performance was negatively impacted by …

OUTOKUMPU COMPLETES THE QUARTO PLATE INVESTMENT IN SWEDEN

May 20, 2014 at 10.00 am EET Outokumpu holds today a customer event in Degerfors, Sweden to mark the finalization of the EUR 100 million investment project at the quarto plate mill. The investment and associated improvements contribute to cost efficiencies across the production process and further strengthen Outokumpu’s position as the leading stainless steel …

OUTOKUMPU – IMPROVING FINANCIAL RESULTS AND CONTINUED PROGRESS IN EFFICIENCY PROGRAMS

Highlights in the first quarter 2014 In line with management expectations Outokumpu’s operational performance continued to improve in the first quarter and underlying EBIT1) loss was EUR 45 million. Operating cash flow was EUR -14 million. Stainless steel deliveries grew by 9.1% and were 676,000 tonnes2) (IV 2013: 620,000 tonnes). Underlying EBITDA1) was EUR 37 …

Outokumpu appoints Reinhard Florey as Chief Financial Officer

Outokumpu appoints Reinhard Florey as Executive Vice President and Chief Financial Officer as of November 1, 2013. He will report to CEO Mika Seitovirta and continue to be a member of the Outokumpu Leadership Team. Reinhard Florey takes on the role from Esa Lager, whose intention to leave the position by the end of 2013 …

Outokumpu – Good progress on synergies, cost saving and ferrochrome offset by weak market and disappointing progress in Americas

Developments in the second quarter 2013 In line with guidance, the second quarter 2013 showed flat underlying EBIT losses versus the first quarter 2013 in a challenging environment with a continuously falling nickel price leading to lower deliveries and lower margins. During the second quarter of 2013, global demand was up by 3.8%, but the …

OUTOKUMPU INAUGURATES NEW FERROCHROME WORKS IN TORNIO, FINLAND

Outokumpu is today celebrating the inauguration of the new ferrochrome works in Tornio, Finland. Inauguration marks the start of the ramp-up phase of the EUR 410 million investment project ahead of schedule. With the ramp-up of the world’s biggest ferrochrome furnace Outokumpu plans to double its ferrochrome production to 530 000 tonnes by 2015. Outokumpu’s …

Outokumpu – Unsatisfactory results in a weaker than expected market environment

Highlights of the first quarter 2013 The first quarter 2013 closed with lower underlying EBIT losses versus the fourth quarter 2012 despite the challenging environment and weaker than anticipated seasonality support. During the first quarter of 2013, global stainless steel demand declined by 1.2% compared to Q1 2012. European stainless steel base prices increased by …