Outokumpu Oyj

Outokumpu Corporation announced that Niklas Wass, President of the business line Stainless Europe and a member of the Leadership Team, will leave the company to pursue an opportunity elsewhere. He will remain in his position until March 31, 2025, and the search for his successor will begin immediately. Kati ter Horst, President & CEO of Outokumpu, thanked Wass for his over 20 years of service and his contributions to sustainability and innovation. Outokumpu, a leader in sustainable stainless steel, emphasizes its commitment to the circular economy and climate targets, producing steel with a significantly lower carbon footprint. The company employs around 8,500 people in nearly 30 countries and is headquartered in Helsinki, Finland, with shares listed on Nasdaq Helsinki.

Outokumpu Corporation reported a solid third-quarter performance for 2024, with an increase in adjusted EBITDA to EUR 86 million, driven by strong results in Europe and the Ferrochrome business. Stainless steel deliveries decreased by 2% compared to the previous quarter, impacted by increased imports in Europe and North America, which pressured prices. Despite these challenges, Outokumpu maintained strong market positions. The company's President & CEO, Kati ter Horst, emphasized priorities such as reinforcing operational performance and financial discipline amid challenging market conditions. The third quarter saw a decrease in sales to EUR 1,518 million, with higher realized prices in Europe offset by lower prices in the Americas. Outokumpu's net result improved to EUR 20 million. Looking ahead, the company expects a decrease in stainless steel deliveries and lower adjusted EBITDA in the fourth quarter due to market deterioration and scheduled maintenance. The company remains committed to sustainability, maintaining a recycled material content of 95% and aiming for the first carbon-neutral chrome mine by 2025. Outokumpu employs around 8,500 people globally and is headquartered in Helsinki, Finland.

Kati ter Horst will assume the role of President and CEO of Outokumpu Corporation on October 1, 2024, leading to her resignation as a member and vice chairman of the board of directors. Following her resignation, the board will have seven members, and a new vice chairman will be elected at the 2025 annual general meeting. Heikki Malinen will step down as President and CEO on September 30, 2024. Outokumpu is a global leader in sustainable stainless steel, emphasizing a circular economy with products made from 95% recycled materials and a commitment to mitigating climate change. The company employs around 8,500 professionals in nearly 30 countries, with headquarters in Helsinki, Finland, and is listed on Nasdaq Helsinki.

On August 22, 2024, Outokumpu Corporation announced that Varma Mutual Pension Insurance Company’s holdings in Outokumpu shares and voting rights exceeded the 5% threshold, reaching 5.18% as of August 21, 2024. Previously, Varma's holdings were below the minimum threshold. Outokumpu has a total of 456,874,448 shares, each carrying one vote, and currently holds 33,188,820 treasury shares. For further information, investors can contact Ulla Paajanen, SVP of Investor Relations and Strategic Advisory, and media inquiries can be directed to Päivi Allenius, SVP of Communications and Brand, or the Outokumpu media desk. Outokumpu, a leader in sustainable stainless steel, focuses on the circular economy, producing steel from 95% recycled materials and aiming for a 1.5°C climate target with a significantly lower carbon footprint than the industry average. The company employs approximately 8,500 professionals in nearly 30 countries, with headquarters in Helsinki, Finland, and is listed on Nasdaq Helsinki.

Outokumpu Corporation announced a manager transaction involving Jyrki Mäki-Kala, a member of the Board of Directors, in compliance with the EU Market Abuse Regulation. Detailed information about the transaction is available. Outokumpu, a global leader in sustainable stainless steel, bases its business on the circular economy, using 95% recycled materials to produce fully recyclable stainless steel. The company supports climate change mitigation with a carbon footprint up to 75% lower than the industry average. Outokumpu employs around 8,500 professionals in nearly 30 countries, with headquarters in Helsinki, Finland, and is listed on Nasdaq Helsinki. For more information, visit www.outokumpu.com.