Outokumpu Oyj - Company Announcement

Outokumpu’s second quarter 2012 slightly weaker than expected

OUTOKUMPU OYJ
STOCK EXCHANGE RELEASE
10 July 2012 at 9.30 am EET


In the guidance given in the first quarter 2012 interim report, the Group's
underlying operational result for the second quarter 2012 was expected to be
around break-even or slightly negative. Outokumpu's second quarter underlying
operational result is currently expected to be approximately EUR -40 million. 

Continued economic uncertainty in Europe, the decline in the nickel price and
destocking among distributors in the second quarter resulted in weaker than
anticipated product and geographic mix and slightly lower stainless steel
delivery volumes. Additionally somewhat increased production costs have had a
negative impact on profitability. 

The Group's operating loss, including raw material-related inventory losses and
non-recurring items, is expected to be approximately EUR 80 million in the
second quarter. As stated in the guidance given in the first quarter 2012
interim report, Outokumpu expects marginal raw material-related inventory
losses in the second quarter. In addition, non-recurring items in the second
quarter include a loss from the divestment of the Group's Brass operations,
costs from the Inoxum transaction and impairments from the divestment of stock
locations. 

Outokumpu will publish its second quarter 2012 interim report on 20 July at
9.00 am EET. 

For further information, please contact:

Ingela Ulfves - Investor Relations
tel. +358 9 421 2438, mob. +358 40 51 51 531

Saara Tahvanainen - Media Relations
tel. +358 9 421 3265, mob. +358 40 589 0223


OUTOKUMPU OYJ



Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our
stainless steel and services worldwide. Being fully recyclable,
maintenance-free, as well as very strong and durable material, stainless steel
is one of the key building blocks for sustainable future. Outokumpu employs
some 8 000 people in more than 30 countries. The Group's head office is located
in Espoo, Finland. Outokumpu is listed on the NASDAQ OMX Helsinki.
www.outokumpu.com

Attachments:

ENG weaker Q2 2012 results.pdf