Outokumpu falls as it warns of possible EBITDA loss in Q4

Outokumpu Oyj

13/12/2024 08:07

** Shares in Outokumpu  OUT1V.HE  fall around 6% after the
Finnish stainless steel maker warned on Thursday its
fourth-quarter core profit would be lower than in the previous
quarter
    ** It said EBITDA in the quarter would be close to a
break-even or turn negative, citing weaker-than-expected market
conditions, impact from inventory value 
    ** Outokumpu added stainless steel deliveries in Q4 might
decrease to the lower end of 0-10% range vs the previous quarter
    ** Lower Q4 estimates will affect operational cash flow,
which next year may remain only slightly positive at best,
Inderes analyst Petri Gostowski says
    ** J.P.Morgan says in a note that the warning implies more
than 20% downside risk to 2024 EBITDA and is negative for 2025
    ** If losses hold, the stock will see its worst day since
April

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))