Outokumpu registers record 2021, foresees first-quarter continuation

Stainless steelmaker Outokumpu expects first-quarter financial performance to continue the positive trend seen throughout 2021.

The company notes that newly received orders during the current quarter already reflect higher stainless steel prices and “more than offset the increase in energy and consumable prices”.

The company’s consolidated 2021 sales surpassed €7.7 billion ($8.8 billion), up 37% year-on-year. Ebitda exceeded €1 billion versus only €101 million in 2020. “In an exceptionally strong market environment, we delivered our best annual financial results in recent history,” Outokumpu chief executive Heikki Malinen says in a report seen by Kallanish.

Stainless steel deliveries reached almost 2.4 million tonnes in 2021, up 13% y-o-y.

“Throughout the year, our mills have been running at full capacity … All business areas provided solid results in 2021 and development in realised stainless steel prices has been favourable. We have had logistical challenges throughout the year as the global supply chains have been under pressure. Our teams have worked very hard to overcome the difficult situation,” Malinen concludes.

Emanuele Norsa Italy