OUTOKUMPU- Stronger-than-expected 1Q18 but slight disappointment on 2Q18 outlook
Despite broadly stable deliveries (+0.8% yoy), Outokumpu’s revenue decreased by 5% yoy during the first quarter of 2018, due to lower base prices in Europe, a weaker USD, and a lower ferrochrome price. EBITDA was also lower by c. 55% yoy at €133m as 1Q17 was an exceptional quarter thanks to high ferrochrome prices and substantial steel price increases.
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.
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