Outokumpu Reports 2024 Financials: Adjusted EBITDA at EUR 177 Million Amid Low Deliveries

Outokumpu Oyj has released its financial statements for 2024, reporting an adjusted EBITDA of EUR 177 million for the full year. The company indicated that the results were affected by historically low stainless steel deliveries in Europe and significant import pressure throughout the period.

In the fourth quarter of 2024, stainless steel deliveries stood at 422,000 tonnes, down from 450,000 tonnes in the same period of the previous year. The adjusted EBITDA for the quarter was negative at EUR -3 million, compared to EUR 72 million in Q4 2023. The net result for the period was EUR -32 million.

For the entire fiscal year 2024, sales decreased to EUR 5,942 million from EUR 6,961 million in 2023. The company reported a free cash flow of EUR -71 million for the year, a significant decrease from EUR 290 million in 2023. Kati ter Horst assumed the role of President and CEO on October 1, 2024.

Despite the challenging market conditions and weaker earnings, Outokumpu's Board of Directors proposed a dividend of EUR 0.26 per share for 2024, to be paid in two installments. The company stated its intention to focus on factors within its control to improve profitability and maintain a strong financial position.