Outokumpu : Q2 2020 numbers lower than expected. No guidance for Q3
>Q2 comes in below expectations - Outokumpu published Q2 2020 adjusted EBITDA of € 45m, i.e. well below our expectations (ODDO BHF: € 60m) and the consensus (Vara: € 53m). This result is down 57% q-o-q (Q1 2020: € 106m) despite a relatively limited decline of stainless steel deliveries i.e. -11% q-o-q to 523kt and 2/ a relatively limited decrease q-o-q, with a € 6m loss from raw material-related inventory and metal derivatives. By division, BA Europe disappointed with...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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