Outokumpu's Q1 2026 Adjusted EBITDA Rose to EUR 65 Million

Outokumpu Oyj experienced an improvement in its financial performance during the first quarter of 2026. The company's adjusted EBITDA rose to EUR 65 million, a significant increase from EUR 10 million reported in the fourth quarter of 2025. This uplift was primarily driven by improved profitability in its European operations due to higher delivery volumes, and by increased average stainless steel prices in its Americas segment.

The stainless steel market showed increased activity in early 2026, influenced by seasonal demand and the initial impact of the EU's Carbon Border Adjustment Mechanism (CBAM). Outokumpu saw its stainless steel deliveries increase by 27% compared to the previous quarter, reaching 465 thousand tonnes. Ferrochrome deliveries also grew by 17% to 110 thousand tonnes.

The ferrochrome market remained balanced, supporting price increases and favoring Outokumpu’s low-emission European offerings. The company's operating cash flow strengthened to EUR 85 million, aided by the improved result and a release of working capital. Net debt consequently decreased to EUR 241 million.

Outokumpu continues to progress with its restructuring program, targeting EUR 100 million in annual cost savings by the end of 2027. The company is also advancing its EVOLVE growth strategy, including the construction of a pilot plant in the U.S. for low-CO2 enriched ferrochrome and chromium metal production, expected to be operational in the first half of 2027.