Outokumpu Oyj

Outokumpu Corporation released its half-year report for January–June 2024, noting improved profitability in Q2 driven by its Europe business area. Key highlights include the appointment of Kati ter Horst as the new President and CEO, effective by October 9, 2024, succeeding Heikki Malinen. The report details a significant impact from a political strike in Finland, which affected EBITDA by approximately EUR 60 million in H1 2024. Despite challenges, including a tight scrap market and operational disruptions, stainless steel deliveries increased in Q2. Sales in Q2 2024 were EUR 1,540 million, a decrease from EUR 1,911 million in Q2 2023. Adjusted EBITDA in Q2 2024 was EUR 56 million, down from EUR 190 million in Q2 2023. The company's outlook for Q3 2024 anticipates stable stainless steel deliveries and adjusted EBITDA at similar or higher levels compared to Q2 2024. A live webcast and conference call were scheduled for August 8, 2024, to discuss the results.

Outokumpu Corporation announced that Rolf Schencking will be appointed as President of the business line Advanced Materials and will join the Outokumpu Leadership Team starting October 1, 2024. He will succeed Thomas Anstots, who is retiring at the end of 2024. Schencking, who has extensive experience in the metal industry and currently serves as Chief Technology Officer at VDM, will be based in Krefeld, Germany. Outokumpu's President and CEO, Heikki Malinen, expressed gratitude to Anstots for his service and welcomed Schencking to the team. Outokumpu is a leader in sustainable stainless steel, emphasizing a circular economy with products made from 95% recycled materials. The company employs approximately 8,500 people across nearly 30 countries, with headquarters in Helsinki, Finland.

Outokumpu Corporation announced the composition of its Shareholders' Nomination Board for 2024. The Nomination Board, which prepares proposals for the Board of Directors' composition and remuneration for the Annual General Meeting, consists of five members. Four members represent the company's largest shareholders, and the fifth member is the Chairman of the Board of Directors. The largest shareholders as of August 1, 2024, are Solidium Oy, Varma Mutual Pension Insurance Company, Ilmarinen Mutual Pension Insurance Company, and The Social Insurance Institution of Finland. The Nomination Board will submit its proposals by January 31, 2025. Outokumpu Corporation, a leader in sustainable stainless steel, employs about 8,500 people in nearly 30 countries and is headquartered in Helsinki, Finland.

Outokumpu Corporation has announced the appointment of Kati ter Horst as President and CEO, effective by October 9, 2024. Ms. ter Horst, who has been with Aliaxis S.A. as Divisional CEO EMEA, will be based at Outokumpu's headquarters in Helsinki, Finland. She has a long career history, including leadership roles at Stora Enso and has been on Outokumpu's Board of Directors since 2016, serving as Vice Chairman since 2022. Following her new appointment, she will resign from the Board at the end of September 2024. Kari Jordan, Chairman of the Board, expressed confidence in her leadership abilities. Ms. ter Horst is committed to advancing Outokumpu's strategy and leading the company in its next phase. Outokumpu is a global leader in sustainable stainless steel, with a strong focus on the circular economy and climate change mitigation. The company employs around 8,500 people in nearly 30 countries and is headquartered in Helsinki, Finland.

Outokumpu Corporation announced on June 12, 2024, that JPMorgan Chase & Co.’s total holding in Outokumpu shares and voting rights has fallen below the 5% threshold as of June 10, 2024, from a previous holding of 5.16%. Outokumpu has a total of 456,874,448 shares, each carrying one vote, and currently holds 33,188,820 treasury shares. Outokumpu, a leader in sustainable stainless steel, focuses on the circular economy, producing steel from 95% recycled materials with a significantly lower carbon footprint. The company employs around 8,500 people in nearly 30 countries and is headquartered in Helsinki, Finland.

Outokumpu Corporation has announced a transaction made by Heinz Jörg Fuhrmann, a member of its Board of Directors, with its financial instrument, in compliance with the EU Market Abuse Regulation. Outokumpu, a global leader in sustainable stainless steel, is committed to the green transition and the circular economy, producing products from 95% recycled materials. The company supports its customers in reducing their emissions with a carbon footprint up to 75% lower than the industry average. Outokumpu Corporation employs around 8,500 professionals in nearly 30 countries and is headquartered in Helsinki, Finland.