Outokumpu reports weak 2025 financial results, expects improvement in 2026

Outokumpu Oyj released its 2025 financial statements on February 12, 2026, indicating a challenging year for the metals company. Significant headwinds were experienced in the European business area, though the company projects more favorable market dynamics to emerge in 2026.

In the fourth quarter of 2025, stainless steel deliveries decreased to 365,000 tonnes, down from 422,000 tonnes in the prior year period. Adjusted EBITDA stood at EUR 10 million, a recovery from the negative EUR -3 million reported in Q4 2024. While profitability improved in the Americas and Ferrochrome business areas, the situation in Europe impacted overall results. For the full year 2025, stainless steel deliveries totaled 1,751,000 tonnes, a slight decrease from 1,793,000 tonnes in 2024. The adjusted EBITDA for the entire year was EUR 167 million, down from EUR 177 million the previous year.

The company's strategic highlights included the launch of its new EVOLVE growth strategy for 2026–2030, focusing on enhancing cost competitiveness, achieving profitable growth in advanced materials and alloys, and developing innovative materials and technologies. Additionally, Outokumpu is investing USD 45 million in a pilot plant in the United States to advance the production of critical low-CO₂ materials. The company is also continuing to study potential expansion at its Avesta, Sweden, melt shop to enable further focus on high-nickel alloys.

Outokumpu is proceeding with a restructuring program targeting EUR 100 million in annual cost savings by the end of 2027 through production footprint optimization and efficiency improvements. The company also announced the achievement of its previous strategy's second phase objectives, including a EUR 350 million EBITDA run-rate improvement target. For 2025, the Board of Directors has proposed a dividend of EUR 0.13 per share.