Outokumpu Oyj New (OUTFF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello all and welcome to Outokumpu's Q1 2025 results webcast. My name is Linda Häkkilä and I'm the head of investor relations here at Outokumpu. With me today as our main speakers, we have our CEO Kati Terhorst and our CFO Mark Simon Schaar. As per usual, we will first start with our presentations, and after that, we are happy to answer your questions. Before we start with the presentation, I would like to remind you about the disclaimer, as we might be making forward-looking statements. But now, without any further comments, I would like to hand over to our CEO. Thank you, Linda, very much. And dear ladies and gentlemen, welcome to our first quarter of 2025 results call. Let's get then going. So our Q1 adjusted EBITDA improved clearly to Euro 49 million in a very volatile market conditions. Our deliveries increased by 11% on group level, 13% in the Americas and 11% in the business area Europe. The one-week strike that we had in Finland had a 50 million negative impact on our group result, and this impact was then mainly in business area Europe. What I would like to especially highlight is the excellent result in business area Ferrochrome, and it was actually the best result since Q2 2022. We also had a good quarter regarding raw material costs and recycled material content, which actually increased to all-time high of 97%. This contributes positively to CO2 emissions. We are also targeting 50 million short-term cost savings, as communicated earlier, during 2025, and we are well on track to achieve that. If we then look at the market and especially talk a little bit about the Asian imports, both in Europe and in North America, I would like to state that we have kept our market positions in both continents, but Asian imports continue to be at a high level and they are...