Outokumpu Q2 Underlying EBITDA EUR 136 Mln, In Line With Expectations [Reuters]
OUTOKUMPU OYJ U/ADR NEW (OUTKY)
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Source: Reuters
Outokumpu Oyj (OUT1V.HE) Key Developments | Reuters.com July 24 (Reuters) - Outokumpu Oyj ::REG-OUTOKUMPU - GOOD PERFORMANCE IN AN ADVERSE ENVIRONMENT, GROUP ADJUSTED EBITDA AT EUR 136 MILLION SUPPORTED BY RECORD-HIGH STAINLESS STEEL DELIVERIES.Q2 UNDERLYING EBITDA EUR 136 MILLION (REUTERS POLL EUR 136 MILLION).IN LINE WITH MARKET, THIRD-QUARTER STAINLESS STEEL DELIVERIES ARE EXPECTED TO BE SEASONALLY LOWER IN BUSINESS AREA EUROPE AND TO REMAIN STABLE IN AMERICAS.SAYS LOWER EUROPEAN BASE PRICES, HIGHER INPUT COSTS AND STEEP INCREASES IN COST OF TRUCK FREIGHT IN AMERICAS LED TO DECREASED PROFITABILITY.IMPACTS OF US STEEL TARIFFS IMPLEMENTED IN EARLY MAY HAVE BEEN TWO-FOLD.EXPECTS ITS THIRD-QUARTER ADJUSTED EBITDA TO BE LOWER THAN IN Q2 (Q2/18: EUR 136 MILLION) BUT SIGNIFICANTLY HIGHER THAN IN Q3 OF 2017 (Q3/17: EUR 56 MILLION)..WITNESSED SURGING IMPORTS TO EUROPE RESULTING IN HEAVY PRICE PRESSURE.Q2 NET SALES EUR 1.88 BILLION (REUTERS POLL EUR 1.69 BILLION)."IN AMERICAS, BASE PRICES HA
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