Outokumpu Oyj - Company Announcement

Outokumpu completes the divestment of 55% share in SKS

OUTOKUMPU OYJ
STOCK EXCHANGE RELEASE
December 10, 2015 at 11.30 am EET

Outokumpu has completed the transaction regarding Shanghai Krupp Stainless Co.,
Ltd (SKS) in China that was announced on October 19, 2015. In the transaction,
Outokumpu divested 55 percent of SKS shares to Lujiazui International Trust
Co., Ltd. Outokumpu still holds a five percent share of SKS and continues to
operate the cold rolling mill. 

The transaction cash value of the divestment of Outokumpu’s 55% holding in SKS
is about EUR 370 million, with net cash proceeds of approximately EUR 350
million. As a result of the transaction, Outokumpu’s net debt decreases by
approximately EUR 430 million and gearing by approximately 33 percentage points
on a pro forma basis (Outokumpu gearing was 96.5% at the end of the third
quarter 2015). Outokumpu records a non-recurring capital gain of approximately
EUR 330 million in the fourth quarter results. 

For more information:

Johanna Henttonen, tel. +358 9 421 3804, mobile +358 40 530 0778

Outokumpu Group


Outokumpu is 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 more than 12 000
professionals in more than 30 countries, with headquarters in Espoo, Finland
and shares listed in Nasdaq Helsinki. www.outokumpu.com

Attachments:

Outokumpu_completes_divestment_of_SKS_10122015_EN.pdf