Outokumpu Oyj New (OUTFF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to Otokumpu's second quarter results presentation. I'm Johann, responsible for investor relations. We will start with the presentation from our CEO, Kati ter Horst, and our CFO, Marc-Simon Schaar. And after the presentation, you have the opportunity to ask questions over the lines. And with that, Kati, I hand over to you. Thank you so much, Johann. So welcome also from my side. And we will first, with Marc-Simon, cover the Q2 result. And then I will comment a little bit more in detail our very recent investment decision today. So if we start now with a result on Q2, profitability improved to 100 million euros from 65 million euros in Q1. And this improvement was mainly driven by the improvement in business area Europe. Business Area Americas continued its strong performance and we also saw Ferrochrome result further improve in the second quarter. Of course in Europe it's clearly that it's the regional measures in Europe, mainly CBAM and then also the steel safeguard measures that have supported the market. While we can say that in the US the market has been, and the demand on the market has been more robust, especially in the industrial segments, and for ferrochrome, especially our low-emission ferrochrome from Europe, in this geopolitical situation, the demand has been at a good level. We are today talking about our evolved strategy, two important steps as milestones to proceed and progress with our strategy. One is the investment in high-nickel alloys, and the second one is really the publication of our first patent applications, and I come back to that a little bit later. We usually always look at what do the imports look like. I think the main message here is that the imports in Europe have clearly stayed at the lower level. They were a...