Outokumpu : Momentum remains unfavourable and questions persist on the US expansion plan, Neutral rating reiterated and target price cut to € 4.8
>In freefall in Europe, resilience in the Americas and ferrochrome - Outokumpu’s Q3 2023 results fell significantly short of expectations with adjusted EBITDA of € 51m, 50% below consensus (cf. first take published yesterday for further details). This poor performance was due to the main Europe Business Area, which posted an EBITDA loss of € 29m (vs € 53m in Q2), the first in a very long time. While volumes generally held up well in the area, prices collapsed amid a r...Outokumpu is organized into the following five business areas: Coil Europe, Middle East and Africa, which consists of stainless operations as well as ferrochrome production in Europe; Coil Americas, which produces standard austenitic and ferritic grades as well as tailored products; APAC, which includes cold rolling facility and coil and plate service center in China, as well as a coil service center in Australia; Quarto Plate, which is comprised of the quarto plate production facilities in Sweden and in the U.S.; as well as Long Products, in which its products are used in a range of applications such as springs, wires, surgical equipment, automotive parts and construction.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.