2016-04-15 15:00:01 CEST
2016-04-15 15:00:01 CEST
REGULATED INFORMATION
Outokumpu Oyj - Company Announcement
Outokumpu publishes historical financial information for new business areas and updates definitions of certain financial key figures
OUTOKUMPU OYJ
STOCK EXCHANGE RELEASE
April 15, 2016 at 4.00 pm EET
Outokumpu has today published restated historical financial information for the
new streamlined business area structure which was announced in connection with
the launch of Outokumpu’s new vision and measures to improve competitiveness
and financial performance of the company. Outokumpu’s first-quarter 2016
financial results will follow the new structure having three business areas:
Europe, Americas and Long Products. Europe and Americas will cover Outokumpu’s
entire flat products offering in these two markets, including all coil and
plate business. The current European Quarto Plate operations and sales network
in APAC will be reported as part of Europe, and the US Quarto Plate business
under Americas. The Long Products operations and financial information remain
unchanged.
Outokumpu continues to follow underlying EBIT as its main profitability measure
because it best shows the underlying profit drivers and operational performance
of the business. However, following the changes in the European Securities and
Markets Authority’s (ESMA) Guidelines on Alternative Performance Measures
related to the definition of non-recurring items, Outokumpu has updated its
definitions of underlying EBITDA and underlying EBIT: material income and
expense items earlier labelled as non-recurring items, such as restructuring
costs, impairments, and gains or losses on sale of assets or businesses, as
well as raw material related inventory gains/losses and metal derivative
gains/losses, are now reported as adjustments. These items affecting
comparability between periods are excluded from underlying EBITDA/EBIT. As the
content of the underlying profitability measures remains unchanged, this has no
effect on the historical group-level figures.
Outokumpu has also updated definitions for the following financial key figures:
capital employed, operating capital, return on capital employed (ROCE) and
return on equity (ROE). New definitions of capital employed and operating
capital exclude defined benefit and other long-term employee benefit
obligations but include net derivative liabilities (other than interest rate
derivative). Returns will be calculated for four previous quarters on a rolling
basis. Furthermore, Outokumpu will replace net debt to EBITDA with net debt to
underlying EBITDA metric. The updated definitions are aligned with Outokumpu’s
long-term financial targets.
The following tables include restated historical financial information for the
new business areas for 2014 and 2015 and updated Group financial key figures
and definitions for 2015. Figures are unaudited.
For more information:
Investors: Johanna Henttonen, tel. +358 9 421 3804, mobile +358 40 530 0778
Outokumpu Group
Outokumpuis a global leader in stainless steel. We create advanced materials
that are efficient, long lasting and recyclable – thus building a world that
lasts forever. Stainless steel, invented a century ago, is an ideal material to
create lasting solutions in demanding applications from cutlery to bridges,
energy and medical equipment: it is 100% recyclable, corrosion-resistant,
maintenance-free, durable and hygienic. Outokumpu employs 11,000 professionals
in more than 30 countries, with headquarters in Espoo, Finland and shares
listed in Nasdaq Helsinki.
www.outokumpu.comoutokumpu.com/stainless-newschoosestainless.outokumpu.com
Business
Area
key
figures
by
quarter
s
Stainles
s steel
deliver
ies
1,000 I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
tonnes
--------------------------------------------------------------------------------
Europe 456 437 402 367 1,661 410 413 375 381 1,578
total
of which 6 5 1 13 26 5 7 4 6 23
intra-g
roup
Americas 143 151 144 133 572 133 117 139 144 533
total
of which 3 3 1 1 9 0 0 12 1 14
intra-g
roup
Long 65 80 60 43 248 52 62 58 42 213
Product
s total
of which 20 34 22 8 84 16 22 30 12 80
intra-g
roup
Other 40 50 53 48 192 48 56 45 27 176
operati
ons
total
of which - - - - - - 2 1 1 3
intra-g
roup
--------------------------------------------------------------------------------
Group 676 675 634 568 2,554 620 616 570 574 2,381
total
deliver
ies
Sales
EUR I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
million
--------------------------------------------------------------------------------
Europe 1,198 1,203 1,190 1,095 4,685 1,163 1,140 1,019 995 4,316
total
of which 96 77 80 61 314 36 40 49 40 165
intra-g
roup
Americas 284 323 347 337 1,290 337 284 301 292 1,214
total
of which 4 13 1 6 25 7 5 21 4 37
intra-g
roup
Long 149 203 171 129 651 149 159 142 100 551
Product
s total
of which 41 77 51 19 188 36 46 56 23 162
intra-g
roup
Other 201 269 294 273 1,037 274 273 231 201 979
operati
ons
total
of which 73 77 69 72 292 75 71 79 86 311
intra-g
roup
--------------------------------------------------------------------------------
Group 1,617 1,753 1,799 1,674 6,844 1,768 1,694 1,487 1,435 6,384
total
sales
EBIT
EUR I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
million
--------------------------------------------------------------------------------
Europe -138 -2 22 4 -114 46 57 -19 0 84
Americas -36 -16 -28 -19 -99 -48 -65 -49 -54 -216
Long 0 14 8 11 33 4 5 1 -8 2
Product
s
Other -14 -6 -11 -32 -63 -12 -23 -9 403 359
operati
ons and
intra-g
roup
items
--------------------------------------------------------------------------------
Group -188 -10 -9 -36 -243 -10 -26 -77 341 228
total
EBIT
Underlyi
ng EBIT
EUR I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
million
--------------------------------------------------------------------------------
Europe 3 8 7 15 33 27 41 -15 33 85
Americas -40 -24 -35 8 -91 -28 -50 -44 -41 -163
Long 2 11 6 12 32 3 4 3 -3 7
Product
s
Other -11 1 -6 -45 -61 0 -20 -11 1 -30
operati
ons and
intra-g
roup
items
--------------------------------------------------------------------------------
Group -45 -6 -28 -9 -88 2 -25 -67 -11 -101
total
underly
ing EBIT
Adjustme
nts to
EBIT
EUR I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
million
--------------------------------------------------------------------------------
Europe -142 -10 15 -11 -147 20 16 -4 -33 -1
Americas 3 9 7 -27 -8 -21 -15 -5 -12 -54
Long -1 3 2 -2 2 1 1 -3 -4 -5
Product
s
Other -3 -7 -5 13 -2 -12 -3 2 402 389
operati
ons and
intra-g
roup
items
---------
Group -143 -5 19 -27 -155 -12 -1 -10 352 330
total
adjustm
ents to
EBIT
-----------------------------------------------------------------------
EBITDA
EUR I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
million
--------------------------------------------------------------------------------
Europe -54 53 74 58 131 98 108 32 47 286
Americas -18 2 -11 1 -25 -26 -43 -27 -40 -136
Long 2 16 10 12 40 5 8 3 -6 10
Product
s
Other -8 -1 -6 -26 -41 -12 -18 -5 407 372
operati
ons and
intra-g
roup
items
--------------------------------------------------------------------------------
Group -78 70 67 45 104 65 55 3 408 531
total
EBITDA
Underlyi
ng
EBITDA
EUR I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
million
--------------------------------------------------------------------------------
Europe 60 63 59 69 251 78 92 36 74 280
Americas -21 -6 -17 28 -17 -5 -27 -22 -28 -83
Long 4 13 8 14 38 5 7 5 -1 15
Product
s
Other -5 6 -1 -39 -40 -1 -15 -6 5 -17
operati
ons and
intra-g
roup
items
--------------------------------------------------------------------------------
Group 37 75 48 72 232 77 57 13 50 196
total
underly
ing
EBITDA
Deprecia
tion and
amortiz
ation
EUR I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
million
--------------------------------------------------------------------------------
Europe -57 -55 -51 -54 -218 -51 -51 -51 -41 -196
Americas -18 -18 -18 -20 -74 -22 -22 -22 -14 -80
Long -2 -2 -1 -2 -6 -2 -2 -2 -2 -8
Product
s
Other -5 -5 -5 -6 -22 -5 -5 -4 -4 -18
operati
ons
--------------------------------------------------------------------------------
Group -82 -80 -76 -81 -320 -80 -81 -80 -61 -302
total
depreci
ation
and
amortiz
ation
Capital
expendi
ture
EUR I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
million
--------------------------------------------------------------------------------
Europe 11 23 20 29 83 20 16 19 41 96
Americas 2 2 3 8 15 1 4 2 12 19
Long 1 2 2 2 6 1 0 1 5 7
Product
s
Other 1 6 0 16 22 4 14 6 7 32
operati
ons
--------------------------------------------------------------------------------
Group 15 33 25 54 127 26 35 29 65 154
total
capital
expendi
ture
Operatin
g
capital
EUR I/14 II/14 III/14 IV/14 2014 I/15 II/15 III/15 IV/15 2015
million
--------------------------------------------------------------------------------
Europe 3,003 3,107 3,065 2,945 2,945 2,894 2,894 2,800 2,680 2,680
Americas 1,040 1,157 1,229 1,262 1,262 1,405 1,346 1,249 1,279 1,279
Long 155 185 185 162 162 176 167 166 151 151
Product
s
Other 48 66 -9 -46 -46 12 48 34 22 22
operati
ons and
intra-g
roup
items
--------------------------------------------------------------------------------
Group 4,246 4,515 4,471 4,324 4,324 4,486 4,455 4,248 4,133 4,133
total
operati
ng
capital
Other
operations
include
divested SKS
operations.
Group financial key figures by quarters
EUR million I/15 II/15 III/15 IV/15 2015
---------------------------------------------------------------------------
Capital employed at the end of period 4,503 4,479 4,271 4,133 4,133
Return on capital employed, % -1.5 -1.8 -3.4 5.3 5.3
Return on equity, % -10.7 -11.0 -12.9 3.9 3.9
Net debt to underlying EBITDA 7.5 8.3 9.2 8.2 8.2
---------------------------------------------------------------------------
Definitions of financial
key figures
Underlying EBIT = EBIT excluding items classified adjustments
Capital employed = Total equity + net debt + net defined benefit and
other long-term employee
benefit obligations + net interest rate derivative
liabilities + net accrued
interest expenses – net assets held for sale
– loans receivable
– available-for-sale financial assets – investments
at fair value through
profit or loss – investments in associated
companies and joint ventures
Operating capital = Capital employed + net deferred tax
liability
Return on capital = EBIT (4-quarter rolling) × 100
employed (ROCE)
----------------------------------------------
Capital employed (4-quarter rolling average)
Return on equity (ROE) = Net result for the financial period × 100
(4-quarter rolling)
----------------------------------------------
Total equity (4-quarter rolling average)
Net debt to underlying = Net debt
EBITDA
----------------------------------------------
Underlying EBITDA (4-quarter rolling)
© 2024 Nasdaq, Inc. All Rights Reserved |