Finnish stainless steel maker Outokumpu said its adjusted EBITDA was 65 million euros in the first quarter of this year, compared with 10 million euros in the previous quarter and 49 million euros in the same period last year, helped by higher margins in Europe and the Americas.
The company's sales in the quarter were 1.45 billion euros, down slightly from 1.52 billion euros in the quarter. first quarter. in 2025, and its EBITDA increased to €59 million from €47 million year-on-year. Outokumpu reported an operating profit of 3 million euros in the first quarter, compared with an operating loss of 7 million euros in the same quarter of 2025. Its net loss narrowed to 6 million euros, compared with 18 million euros in the corresponding period of the previous year.
In January-March, Outokumpu's stainless steel shipments amounted to 465,000 tons, up 27% quarter-on-quarter, while ferrochrome shipments increased 17% quarter-on-quarter to 110,000 tons. The company said activity in the stainless steel market improved due to seasonal factors and effects associated with the carbon border management mechanism (CBAM) in Europe. The introduction of CBAM has created a clearer carbon price for stainless steel imports at EU borders, shifting demand towards low-carbon European scrap production, Outokumpu said.
The company also said its restructuring program was progressing as planned. The program targets annual cost savings of €100 million by the end of 2027, with around half of these savings expected to be realized in 2026.
As part of its EVOLVE growth strategy, Outokumpu said the construction of its pilot plant in New Hampshire in the US aims to scale up its patented technology for manufacturing low carbon enriched ferrochrome and chromium metal is progressing and the plant is expected to be operational in 2027. The company is also developing high-margin specialty ferrochrome products, considering investment in annealing and pickling lines in Tornio and conducting a feasibility study on the Avesta smelter to enable expansion of production of high-nickel alloys.
In the second quarter of this year, Outokumpu expects stainless steel supplies to increase by 0-10 percent compared to the first quarter. The company also expects its adjusted EBITDA in the second quarter to be higher than in the first quarter.
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