Outokumpu Oyj New (OUTFF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. Welcome to Outokumpu's second quarter 2025 result webcast. My name is Ulla Paajanen, and I'm currently in charge of Outokumpu's investor relations. With me today are our speakers, CEO Kati Terhorst and CFO Mark Simon Schaar. Kati will tell us about the highlights of the quarter, our strategy development and the outlook. Mark Zeman will concentrate on financials and business areas. Before handing it over to Kati, please let me remind you about our disclaimer, since we might make forward-looking statements during the presentation. Please, Kati, the floor is yours. Thank you, Ulla. So hello everyone and welcome also from my behalf on our Q2 results call. Before I go forward and dive into the result of the Q2, I would like to give a couple of comments on the current trade environment and how it impacts Autokumpu. So if we start with the US-EU trade agreement on stainless steel, and what does it actually really mean for us? So first of all, I would like to start by saying that if you look at our European deliveries, only about 2% of our European deliveries have traditionally been exported to the US. So from that perspective, directly to Autokumpu, it's not such a big issue. Then, on the other hand, we are a local player in America, and the tariffs protect our business in America. But then if you look at it from a European perspective, what the indirect impact is in this very weak demand environment, then when we couple that with low-priced Asian imports that have increased, and then the European steel industry can't export the way it used to export, then of course that puts pressure on Europe and it puts really pressure on the capacity utilization what we're having. So the indirect impact is bigger. it's still now uncertain what the future exactly will be....