Outokumpu has net profit of EUR 22 million in Q1
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Update time : 2020-07-24 18:16:53
According to a report released by Outokumpu, the COVID-19 epidemic had little impacts on its operations, services, and delivery in the first quarter of 2020 due to positive prevention measures.
In the first quarter, Outokumpu’s stainless steel shipment had a year-on-year decrease of 5.3% and a quarter-on-quarter increase of 28.4% to nearly 590,000 tons.
The sales fell by 5.83% year on year and rose by 15.5% quarter-on-quarter to around EUR 1.62 billion. The EBITDA grew by 165% year on year and 17.8% quarter-on-quarter to around EUR 106 million, and a year-on-year and quarter-on-quarter increase of 96.3% and 45.2% respectively after adjusting.
The EBIT had a year-on-year increase of EUR 63 million and a quarter-on-quarter hike of 50% to EUR 45 million, and the net profit climbed by EUR 61 million year on year and EUR 37 million quarter on quarter to EUR 22 million.
