Finnish stainless steel producer Outokumpu expects the group’s deliveries to decline by up to10pc in Q3 2021, compared to the previous quarter.
The firm anticipates possible excess raw material inventory and metal derivative gains or losses based on the current prices and exchange rates. It expects the maintenance cost to increase by €10mn ($11.8mn) in Q3 compared to Q2 2021. In H1 2021, the Finnish steel producer’s stainless steel deliveries rose to 1.2mn mt, compared to 1.1mn mt in H1 2020. In the second quarter, deliveries increased to 626,000mt from 523,000mt from a year ago and were also up from 608,000mt in Q1 2021.
The company’s sales in the first half of the year rose to €3.5bn from €3bn in H2 2020. In Q2 2021, the firm’s sales was at €1.8bn up from €1.4bn in Q2 2020 and from €1.6bn in Q1 2021. Outokumpu’s adjusted EBITDA in the six months period grew to €400mn compared to €151mn in the same period in 2020. In Q2 2021 the adjusted EBITDA rose to €233mn from €45mn in Q2 2020 and from €177mn in Q1 2021.
($1 = €0.85)