Buy Or Sell Opportunity • May 29
Now 22% undervalued Over the last 90 days, the stock has risen 4.1% to €5.96. The fair value is estimated to be €7.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 13
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: €0.01 loss per share (improved from €0.042 loss in 1Q 2025). Revenue: €1.45b (down 4.8% from 1Q 2025). Net loss: €6.00m (loss narrowed 67% from 1Q 2025). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Live News • May 13
Outokumpu Shows Strong Q1 2026 Results With Progress on €100m Restructuring Program Outokumpu reported higher adjusted EBITDA for Q1 2026, supported by increased deliveries and what it describes as improved market dynamics.
The company is moving ahead with its €100m restructuring program, with management expecting most of the savings to be realized in 2026.
Outokumpu highlighted ongoing geopolitical uncertainty and pressure in its ferrochrome business, while still reporting positive free cash flow and lower net debt.
Stronger adjusted EBITDA combined with positive free cash flow and reduced net debt points to a balance sheet that currently gives the company room to continue executing its restructuring plans.
The key watchpoints are how much of the €100m cost program actually flows through to earnings and how persistent the challenges in ferrochrome and geopolitics turn out to be. Breakeven Date Change • May 13 The 11 analysts covering Outokumpu Oyj previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of €137.3m in 2026. Earnings growth of 22% is required to achieve expected profit on schedule.
Declared Dividend • Apr 09
Dividend of €0.07 announced Shareholders will receive a dividend of €0.07. Ex-date: 14th October 2026 Payment date: 22nd October 2026 Dividend yield will be 2.6%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.0% per year over the past 9 years. However, payments have been volatile during that time. Announcement • Mar 28
Outokumpu Corporation Announces Board Committees Appointments Outokumpu Corporation's Board of Directors has at its organizational meeting on March 26, 2026, appointed two permanent committees, the Audit Committee and the Remuneration Committee, and decided on their composition. Jenni Lukander was appointed to Audit Committee and now the audit committee consists of Jyrki Mäki-Kala as the Chairman of the Audit Committee and Olavi Huhtala, Jenni Lukander, Päivi Luostarinen and Petter Söderström as members. Timo Ritakallio was elected as Chairman of the Remuneration Committee and Chairman of the Remuneration Committee consists of Kari Jordan as the Chairman and Hilde Merete Aasheim, Heinz Jörg Fuhrmann, Timo Ritakallio and Julia Woodhouse as members. Declared Dividend • Mar 17
Final dividend of €0.06 announced Shareholders will receive a dividend of €0.06. Ex-date: 27th March 2026 Payment date: 8th April 2026 Dividend yield will be 4.0%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.0% per year over the past 9 years. However, payments have been volatile during that time. Announcement • Feb 12
Outokumpu Oyj Proposes Dividend for the Financial Year Ended December 31, 2025, Payable on April 8, 2026 and October 22, 2026 Respectively Outokumpu Oyj announced at the AGM to be held on March 26, 2026, proposed dividend of, in total, EUR 0.13 per share be paid based on the balance sheet to be adopted for the financial year ended December 31, 2025. The dividend will be paid in two instalments. The first instalment of EUR 0.06 per share will be paid to shareholders who on the record date of the first dividend instalment March 30, 2026 are registered in the Company's shareholders' register held by Euroclear Finland Oy. The Board of Directors proposes that the first dividend instalment be paid on April 8, 2026. The second instalment of EUR 0.07 per share will be paid to shareholders who on the record date of the second dividend instalment October 15, 2026 are registered in the Company's shareholders' register held by Euroclear Finland Oy. The Board of Directors proposes that the second dividend instalment be paid on October 22, 2026. Announcement • Dec 17
Outokumpu Oyj, Annual General Meeting, Mar 26, 2026 Outokumpu Oyj, Annual General Meeting, Mar 26, 2026. Announcement • Nov 05
Outokumpu Appoints Anouk De Graaf Appointed as Executive Vice President - People, Sustainability and Corporate Relations and A Member of Outokumpu Leadership Team, Effective February 1, 2026 Outokumpu Oyj announced Anouk de Graaf (MBA) has been appointed as Executive Vice President - People, Sustainability and Corporate Relations and a member of Outokumpu Leadership Team as of February 1, 2026. Anouk de Graaf has an extensive international background in human resources, spanning across diverse industries and several regions, most recently as Vice President, Global People and Culture Business Partners at Borealis and before that in various HR leadership and management roles at DSM and Philips. Anouk de Graaf will be based in the Netherlands and report to CEO Kati ter Horst. Upcoming Dividend • Oct 07
Upcoming dividend of €0.13 per share Eligible shareholders must have bought the stock before 14 October 2025. Payment date: 22 October 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.9%. Lower than top quartile of Finnish dividend payers (6.0%). Higher than average of industry peers (3.0%). Announcement • Oct 07
Outokumpu Appoints Johann Steiner as President, Business Area Americas as of October 6, 2025 Outokumpu has appointed Johann Steiner (M.Sc. Econ.) as President, business area Americas as of October 6, 2025. Tamara Weinert, the previous position holder, will pursue new challenges. Johann Steiner continues to be a member of Outokumpu's Leadership Team, which he joined in 2013. Most recently, Johann held the role of EVP, Strategy, Sustainability & People. The search for his successor is ongoing. Johann Steiner will be based in Calvert, Alabama and continues to report to Kati ter Horst, President & CEO, Outokumpu. Announcement • Aug 01
Outokumpu Corporation Announces Composition of the Shareholders' Nomination Board Outokumpu Corporation's Shareholders' Nomination Board has been established to annually prepare proposals to the General Meeting for the election and remuneration of the members of the Board of Directors. The Nomination Board consists of five members - four represent the company's largest shareholders and the Chairman of the Board of Directors acts as the fifth member of the Nomination Board. The largest shareholders are determined on the basis of the shareholder register of the company according to the ownership situation on the first business day of August each year. On August 1, 2025, the four largest shareholders of Outokumpu were Solidium Oy, Varma Mutual Pension Insurance Company, Ilmarinen Mutual Pension Insurance Company, and the State Pension Fund of Finland. As the State Pension Fund of Finland has informed Outokumpu that it will not use its nomination right, the right transfers to the Social Insurance Institution of Finland. The shareholders have appointed the following representatives to the Nomination Board: Matts Rosenberg, incoming CEO of Solidium OyPekka Pajamo, Senior Vice-President, CFO, Finance and Internal Services of Varma Mutual Pension Insurance CompanyEsko Torsti, Head of Alternative Investments of Ilmarinen Mutual Pension Insurance CompanyLasse Lehtonen, Director General of the Social Insurance Institution of Finland Kari Jordan, Chairman of the Board of Directors of Outokumpu, acts as a fifth member of the Nomination Board. The Nomination Board will submit its proposals to Outokumpu's Board of Directors on January 31, 2026, at the latest. Outokumpu will publish the proposals of the Nomination Board in a release and include them in the notice to the Annual General Meeting. Reported Earnings • Aug 01
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: €0.04 loss per share (further deteriorated from €0.012 loss in 2Q 2024). Revenue: €1.49b (down 3.5% from 2Q 2024). Net loss: €19.0m (loss widened 280% from 2Q 2024). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Reported Earnings • May 09
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: €0.04 loss per share (improved from €0.054 loss in 1Q 2024). Revenue: €1.52b (up 3.0% from 1Q 2024). Net loss: €18.0m (loss narrowed 22% from 1Q 2024). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 167%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Announcement • Apr 04
Outokumpu Corporation Announces Committee Appointments Outokumpu Corporation's Board of Directors has at its organizational meeting appointed two permanent committees, the Audit Committee and the Remuneration Committee, and decided on their composition. Jyrki Mäki-Kala was elected as the Chairman of the Audit Committee and Päivi Luostarinen, Petter Söderström and Olavi Huhtala were elected as members. Kari Jordan was elected as the Chairman of the Remuneration Committee and Heinz Jörg Fuhrmann, Hilde Merete Aasheim and Julia Woodhouse were elected as members. Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Director Jyrki Maki-Kala was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 28
Upcoming dividend of €0.13 per share Eligible shareholders must have bought the stock before 04 April 2025. Payment date: 14 April 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 7.3%. Within top quartile of Finnish dividend payers (5.9%). Higher than average of industry peers (3.9%). Price Target Changed • Mar 13
Price target increased by 7.7% to €3.56 Up from €3.31, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of €3.66. Stock is down 6.2% over the past year. The company is forecast to post earnings per share of €0.12 next year compared to a net loss per share of €0.094 last year. Declared Dividend • Feb 15
Dividend of €0.13 announced Shareholders will receive a dividend of €0.13. Ex-date: 4th April 2025 Payment date: 14th April 2025 Dividend yield will be 3.7%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 8 years. However, payments have been volatile during that time. Announcement • Feb 15
Outokumpu Oyj Proposes Dividend for the Financial Year 2024, Payable on April 14, 2025 and October 22, 2025 Respectively Outokumpu Oyj announced Board of Directors proposed to the Annual General Meeting that a dividend of, in total, EUR 0.26 per share be paid based on the balance sheet to be adopted for the financial year ended December 31, 2024. The dividend will be paid in two instalments. The dividend will not be paid to shares held by the Company on the dividend record dates. The first instalment of EUR 0.13 per share will be paid to shareholders who on the record date of the first dividend instalment April 7, 2025 are registered in the Company's shareholders' register held by Euroclear Finland Oy. The Board of Directors proposes that the first dividend instalment be paid on April 14, 2025. The second instalment of EUR 0.13 per share will be paid to shareholders who on the record date of the second dividend instalment October 15, 2025 are registered in the Company's shareholders' register held by Euroclear Finland Oy. The Board of Directors proposes that the second dividend instalment be paid on October 22, 2025. Reported Earnings • Feb 14
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: €0.094 loss per share (improved from €0.26 loss in FY 2023). Revenue: €5.94b (down 15% from FY 2023). Net loss: €40.0m (loss narrowed 64% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 34%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Announcement • Feb 12
Outokumpu Oyj Appoints Matthieu Jehl as President, Business Line Stainless Europe Outokumpu has appointed Matthieu Jehl (MBA, M.Sc. Applied Economics, M.Sc. Eng.) as President of business line Stainless Europe and member of the Outokumpu Leadership Team as of May 26, 2025, at the latest. Matthieu joins Outokumpu from ArcelorMittal, where he served as CEO in different countries within Europe. He also worked with John Cockerill as President for the Energy division. Matthieu will report to Kati ter Horst, President and CEO, and will be based at Outokumpu's office in Krefeld, Germany. Announcement • Jan 07
Outokumpu Oyj Announces Pierre Vareille, A Current Member of the Board of Directors No Longer Available for Re-Election Outokumpu Oyj announced Pierre Vareille, a current member of the Board of Directors of Outokumpu Corporation, has subsequently notified the Shareholders’ Nomination Board that he is no longer available for re-election for personal reasons. Consequently, the Shareholders’ Nomination Board proposes that the Board of Directors would consist of eight (8) members instead of the earlier announced nine (9). Price Target Changed • Jan 03
Price target decreased by 8.1% to €3.52 Down from €3.83, the current price target is an average from 11 analysts. New target price is 21% above last closing price of €2.91. Stock is down 29% over the past year. The company is forecast to post a net loss per share of €0.10 next year compared to a net loss per share of €0.26 last year. Announcement • Nov 05
Outokumpu Oyj Announces Leaving of Niklas Wass, President, Business Line Stainless Europe and Member of Outokumpu Leadership Team Outokumpu Oyj announced that Niklas Wass, President, business line Stainless Europe and member of Outokumpu Leadership Team, has decided to leave the company in order to pursue a career opportunity outside Outokumpu. Niklas will continue in his position until March 31, 2025. A process to find a successor for him will start immediately. Reported Earnings • Nov 01
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: €0.047 (up from €0.13 loss in 3Q 2023). Revenue: €1.52b (flat on 3Q 2023). Net income: €20.0m (up €75.0m from 3Q 2023). Profit margin: 1.3% (up from net loss in 3Q 2023). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 09
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: €0.01 loss per share (down from €0.20 profit in 2Q 2023). Revenue: €1.54b (down 19% from 2Q 2023). Net loss: €5.00m (down 106% from profit in 2Q 2023). Revenue missed analyst estimates by 9.9%. Earnings per share (EPS) exceeded analyst estimates by 40%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • May 08
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: €0.05 loss per share (down from €0.22 profit in 1Q 2023). Revenue: €1.48b (down 26% from 1Q 2023). Net loss: €23.0m (down 124% from profit in 1Q 2023). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 67%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Announcement • Apr 23
Outokumpu Corporation Appoints Marc-Simon Schaar as CFO, effective June 1, 2024 Outokumpu Corporation announced that Marc-Simon Schaar (M.Sc. International Business, Chartered Accountant) has been appointed as Chief Financial Officer as of June 1, 2024. He has been working at Outokumpu since 2011 in senior roles in Business Controlling, Treasury, M&A and Procurement, most recently as Chief Procurement Officer and a member of the leadership team since 2023. Marc-Simon Schaar is a German citizen. He reports to President & CEO Heikki Malinen. Announcement • Apr 10
Outokumpu Oyj Announces Resignation of Pia Aaltonen-Forsell as Chief Financial Officer Outokumpu Oyj announced that Pia Aaltonen-Forsell, CFO and a member of the Leadership Team, has decided to leave Outokumpu in order to pursue a career opportunity outside the company. Pia will continue in her current position until the autumn. Announcement • Apr 05
Outokumpu Oyj Announces Board Appointments Outokumpu Oyj's Board of Directors has at its first meeting appointed two permanent committees, the Audit Committee and the Remuneration Committee, and decided on their composition. To the Remuneration Committee the Board elected Kari Jordanas the Chairman and Heinz Jörg Fuhrmann, Kati ter Horst and Pierre Vareille as members. The Audit Committee is Jyrki Mäki-Kalaas the Chairman and Päivi Luostarinen, Petter Söderströmand Julia Woodhouseas members. Announcement • Apr 04
Outokumpu Oyj Approves Dividend for the Financial Year Ended December 31, 2023, Payable on April 15, 2024 Outokumpu Oyj announced that at its AGM held on April 4, 2024, The Annual General Meeting decided that a dividend of, in total, EUR 0.26 per share be paid based on the balance sheet to be adopted for the financial year ended on December 31, 2023. The dividend will be paid in a single instalment to shareholders registered in the shareholders' register of the company held by Euroclear Finland Oy on the dividend record date April 8, 2024. The dividend will be paid on April 15, 2024. Upcoming Dividend • Mar 29
Upcoming dividend of €0.26 per share Eligible shareholders must have bought the stock before 05 April 2024. Payment date: 15 April 2024. The company is not currently making a profit and its cash payout ratio is 85%. Trailing yield: 6.5%. Within top quartile of Finnish dividend payers (5.9%). Higher than average of industry peers (4.2%). Reported Earnings • Mar 05
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: €0.26 loss per share (down from €2.40 profit in FY 2022). Revenue: €6.96b (down 27% from FY 2022). Net loss: €111.0m (down 110% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 84%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 23
Now 21% undervalued Over the last 90 days, the stock has risen 5.8% to €4.06. The fair value is estimated to be €5.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 13
Now 20% undervalued Over the last 90 days, the stock has risen 6.9% to €4.11. The fair value is estimated to be €5.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Feb 12
Dividend of €0.26 announced Shareholders will receive a dividend of €0.26. Ex-date: 5th April 2024 Payment date: 15th April 2024 Dividend yield will be 6.3%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (71% cash payout ratio). The dividend has increased by an average of 15% per year over the past 7 years. However, payments have been volatile during that time. Reported Earnings • Feb 09
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: €0.25 loss per share (down from €2.40 profit in FY 2022). Revenue: €6.96b (down 27% from FY 2022). Net loss: €111.0m (down 110% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 84%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Feb 08
Outokumpu Oyj Proposes Dividend for the Financial Year Ended December 31, 2023, Payable on April 15, 2024 The board of directors of Outokumpu Oyj proposed to the annual general meeting to be held on April 4, 2024, that a dividend of, in total, EUR 0.26 per share be paid based on the balance sheet to be adopted for the financial year ended on December 31, 2023. The dividend will be paid in a single instalment to shareholders registered in the shareholders' register of the company held by Euroclear Finland Oy on the dividend record date April 8, 2024. Dividend will not be paid to shares held by the company on the dividend record date. The board of directors proposes that the dividend be paid on April 15, 2024. Major Estimate Revision • Jan 26
Consensus EPS estimates fall from profit to €0.013 loss The consensus outlook for fiscal year 2023 has been updated. Expected to report loss instead of -€0.013 instead of €0.061 per share profit previously forecast. Revenue forecast unchanged at €7.00b Metals and Mining industry in Finland expected to see average net income decline 1.2% next year. Consensus price target broadly unchanged at €4.62. Share price was steady at €4.03 over the past week. Announcement • Jan 25
Outokumpu Oyj (HLSE:OUT1V) acquired 10% stake in Cronimet North-East GMBH from CRONIMET Holding GmbH. Outokumpu Oyj (HLSE:OUT1V) signed an agreement to acquire 10% stake in Cronimet North-East GMBH from CRONIMET Holding GmbH on November 7, 2023.The completion of the transaction is subject to customary closing conditions and regulatory approvals by the competition authorities. The transaction will be carried out as a share sale.Outokumpu Oyj (HLSE:OUT1V) completed the acquisition of 10% stake in Cronimet North-East GMBH from CRONIMET Holding GmbH on January 24, 2024. Outokumpu has now completed the acquisition of CRONIMET North-East GmbH after having fulfilled customary closing conditions and obtained regulatory approvals. As a shareholder, Outokumpu acts as a strategic partner in CRONIMET’s Northeastern business, while CRONIMET retains full operational control of the companies involved. Major Estimate Revision • Dec 14
Consensus EPS estimates fall by 51% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.121 to €0.06 per share. Revenue forecast steady at €7.01b. Net income forecast to shrink 72% next year vs 0.5% growth forecast for Metals and Mining industry in Finland . Consensus price target up from €4.61 to €4.80. Share price rose 5.4% to €4.48 over the past week. Announcement • Dec 05
Outokumpu Oyj (HLSE:OUT1V) commences an Equity Buyback Plan for 45,000,000 shares, representing 9.85% of its issued share capital, under the authorization approved on March 30, 2023. Outokumpu Oyj (HLSE:OUT1V) commences share repurchases on December 1, 2023, under the program mandated by the Annual General Meeting held on March 30, 2023. As per the mandate, the company is authorized to repurchase up to 45,000,000 shares representing 9.85% of its issued capital. The price payable for the shares shall be based on the price paid for the company’s shares on the day of repurchase in public trading or otherwise at a price formed on the market. The shares may be repurchased only by using unrestricted equity. The repurchased shares may be held by the company, cancelled, or transferred further. The share repurchase program will expire at the next Annual General Meeting, but no later than May 31, 2024. As of February 9, 2023, the company has 456,874,448 shares issued and 16,494,842 shares in treasury.
On November 29, 2023, the company initiated a repurchase program. Under the program, the company will repurchase up to 11,000,000 shares, representing 2.4% of its share capital, for €50 million. The purpose of the program is to mitigate and manage the dilutive impact of the company's outstanding convertible bonds. The repurchased shares will be initially held by the company as treasury shares and may be used to meet its obligations under the convertible bonds. Alternatively, the company may decide to cancel any or all of the repurchased shares and reduce its capital accordingly. The program will commence at the earliest on December 1, 2023 and end no later than on March 21, 2024. Major Estimate Revision • Dec 04
Consensus EPS estimates fall by 51% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.247 to €0.121 per share. Revenue forecast steady at €7.02b. Net income forecast to shrink 71% next year vs 4.7% growth forecast for Metals and Mining industry in Finland . Consensus price target broadly unchanged at €4.61. Share price rose 7.8% to €4.21 over the past week. Announcement • Nov 15
Outokumpu Oyj (HLSE:OUT1V) signed an agreement to acquire 20% stake in Envigas AB. Outokumpu Oyj (HLSE:OUT1V) signed an agreement to acquire 20% stake in Envigas AB on November 13, 2023. Envigas aims to expand its production capacity by 25,000 tonnes in the first scale-up phase by end of 2026 and Outokumpu has agreed to invest €9.9mn in the company. With the investment, Outokumpu secures a right to 50% of Envigas’ production. New Risk • Nov 09
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.0% Last year net profit margin: 9.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 21% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (6.0% net profit margin).