Finland-based, Europe's leading stainless steel producer, Outokumpu, aims to increase its operating ratio (EBITDA) in earnings before interest, taxes, depreciation, and amortization by 200 million euros, by updating its financial targets for the second phase of the strategy. (until the end of 2025)
In addition, Outokumpu has targeted a capital expenditure of 600 million Euros for the next three years, paying a stable and growing dividend and having a net debt of <1.0 to EBITDA under normal market conditions.
CEO Heikki Malinen says: “We put a lot of effort into our strategy work across the organization. The hard work has paid off and we now have a solid and sustainable strategic plan to move this company forward after a successful first phase of risk recovery.
Outokumpu's leadership team is fully committed to the strategy and I am extremely proud to talk about our updated goals for phase two. We have a strong culture of performance and this is a company of truly great people – I am fully convinced that our talented and hardworking teams will continue to deliver good value to our customers and strong results for our shareholders going forward.”
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