Outokumpu : Perspectives détériorées en Europe et ambitions coûteuses aux USA pèsent sur la trajectoire, recommandation dégradée à Neutre (vs Surperformance)
>Performance faible en Europe mais meilleure que les pairs, excellente aux USA - Les résultats T2 2023 d’Outokumpu sont ressortis légèrement inférieurs aux attentes (EBITDA ajusté de 190 M€, 7% sous le consensus) à cause de l’activité principale Europe (27% de l’EBITDA) dans un contexte sectoriel déprimé. Les volumes sont en effet tirés par le bas par l’environnement récessif et les prix déprimés par la concurrence féroce avec les trois autres principaux acteurs. Indi...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.
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