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2007-03-28 12:00:00 CEST 2007-03-28 12:00:00 CEST REGULATED INFORMATION Outokumpu Oyj - Company AnnouncementOutokumpu AGM - CEO Juha Rantanen comments on stainless marketsOutokumpu Oyj Stock Exchange Release March 28, 2007 Outokumpu AGM - CEO Juha Rantanen comments on stainless markets Today, in his review at Outokumpu's Annual General Meeting on the Group's 2006 performance, CEO Juha Rantanen also commented on the Group's first quarter 2007 profitability and the current stainless steel market. In the prevailing favourable market conditions in the first quarter, the Group's operating profit for the period will be on the record fourth quarter 2006 level, or even higher. Currently, the underlying stainless steel demand continues to be strong. Direct deliveries to end users and project customers are scheduled as far as October and the mills producing specialty products are producing at full capacity. However, as to the standard volume products, distributors are more cautious in placing orders due to their increased inventories, high transaction prices and increased availability of Asian material, leading to lower order books and shortened delivery times for the mills. Due to lower demand from the distribution sector, the standard grades' base prices have softened from the record high levels of the first months of the year. Outokumpu will continuously monitor the market development and will adjust its actions accordingly. Outokumpu's first quarter results will be published on April 24, 2007. Profitability guidance for the second quarter will be given in the interim report. CEO Juha Rantanen added: "Outokumpu's competitive position has improved due to the completed cost cutting actions and will further improve as the excellence programmes are gaining momentum. We are confident of the long-term attractiveness of the stainless steel market and with the prevailing good base price levels Outokumpu's earnings potential remains strong." Further information: Kari Lassila, SVP - IR and Communications, tel. +358 9 421 2555 kari.lassila@outokumpu.com Eero Mustala, SVP - Corporate Communications, tel. +358 9 421 2435 eero.mustala@outokumpu.com OUTOKUMPU OYJ Corporate Management Ingela Ulfves Vice President - Investor Relations tel. +358 9 421 2438, mobile +358 40 515 1531, fax +358 9 421 2125 e.mail: ingela.ulfves@outokumpu.com www.outokumpu.com |
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