Outokumpu
3.191
EUR
-0.41 %
OUT1V
NASDAQ Helsinki
Metals & Mining
Basic Materials
12,980 following
-0.41%
-1.48%
-4.35%
-2.09%
-17.1%
-28.84%
-16.53%
-42.02%
+16.5%
-88.25%
www.outokumpu.com
Outukumpu is a manufacturer of stainless steel and the group offers specialized solutions for various industrial purposes. The steel is used in tools, industrial infrastructure, and medical equipment. Customers are found on a global level, primarily in Europe and North America. Sales take place via global sales and service centers. The head office is located in Helsinki.
P/E (adj.) (24e)
-42.64
EV/EBIT (adj.) (24e)
-235.32
P/B (24e)
0.37
Dividend yield-% (24e)
-
Target price
4.00 EUR
Recommendation
Accumulate
Updated
30.10.2024
NASDAQ Helsinki
OUT1V
Daily low / high price
3.18 / 3.218
EUR
Market cap
1.46B EUR
Turnover
700.26K EUR
Volume
219K
Business risk
Valuation risk
Current
Previous
Analyst
Petri Gostowski
Co. Head of Research
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,639.3 | 7,709.3 | 9,493.4 | 6,960.4 | 6,055.8 | 6,747.2 | 6,989.3 | 7,212.6 |
| growth-% | -11.9 % | 36.7 % | 23.1 % | -26.7 % | -13.0 % | 11.4 % | 3.6 % | 3.2 % |
| EBITDA | 190.8 | 963.6 | 1,247.3 | 416.0 | 213.9 | 391.2 | 535.2 | 553.9 |
| EBIT (adj.) | 5.8 | 758.1 | 1,010.3 | 274.0 | -6.1 | 176.9 | 321.3 | 341.5 |
| EBIT | -52.3 | 704.6 | 992.3 | -100.0 | -7.1 | 176.9 | 321.3 | 341.5 |
| Profit before taxes | -148.3 | 639.6 | 932.6 | -133.0 | -45.1 | 135.8 | 282.7 | 304.5 |
| Net income | -114.3 | 552.6 | 1,086.3 | -111.0 | -32.7 | 107.7 | 223.8 | 241.0 |
| EPS (adj.) | -0.14 | 1.34 | 1.82 | 0.61 | -0.07 | 0.23 | 0.48 | 0.52 |
| growth-% | 35.7 % | -66.4 % | -112.3 % | 107.8 % | 7.7 % | |||
| Dividend | 0.00 | 0.15 | 0.35 | 0.26 | 0.00 | 0.10 | 0.20 | 0.20 |
| Dividend ratio | 12.3 % | 14.3 % | -101.0 % | 42.9 % | 41.3 % | 38.3 % |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 3.4 % | 12.5 % | 13.1 % | 6.0 % | 3.5 % | 5.8 % | 7.7 % | 7.7 % |
| EBIT-% (adj.) | 0.1 % | 9.8 % | 10.6 % | 3.9 % | -0.1 % | 2.6 % | 4.6 % | 4.7 % |
| EBIT-% | -0.9 % | 9.1 % | 10.5 % | -1.4 % | -0.1 % | 2.6 % | 4.6 % | 4.7 % |
| ROE | -4.6 % | 20.2 % | 30.0 % | -2.8 % | -0.9 % | 2.9 % | 5.9 % | 6.1 % |
| ROI | -1.3 % | 19.0 % | 23.4 % | -2.1 % | -0.1 % | 4.3 % | 7.7 % | 7.9 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 3.22 | 4.73 | 5.11 | 4.48 | 3.19 | 3.19 | 3.19 | 3.19 |
| Shares | 411.8 | 452.6 | 444.1 | 431.2 | 423.7 | 461.9 | 461.9 | 461.9 |
| Market cap | 1,326.1 | 2,140.7 | 2,269.5 | 1,931.7 | 1,352.0 | 1,473.8 | 1,473.8 | 1,473.8 |
| Enterprise value | 2,327.0 | 2,510.8 | 2,342.7 | 1,846.2 | 1,444.6 | 1,543.8 | 1,418.6 | 1,313.3 |
| EV/S | 0.4 | 0.3 | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 |
| EV/EBITDA | 12.2 | 2.6 | 1.9 | 4.4 | 6.8 | 3.9 | 2.7 | 2.4 |
| EV/EBIT (adj.) | 404.7 | 3.3 | 2.3 | 6.7 | - | 8.7 | 4.4 | 3.8 |
| EV/EBIT | - | 3.6 | 2.4 | - | - | 8.7 | 4.4 | 3.8 |
| P/E (adj.) | - | 3.5 | 2.8 | 7.3 | - | 13.7 | 6.6 | 6.1 |
| P/E | - | 3.9 | 2.1 | - | - | 13.7 | 6.6 | 6.1 |
| P/B | 0.6 | 0.7 | 0.6 | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 |
| P/S | 0.2 | 0.3 | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 |
| Dividend yield | 3.2 % | 6.9 % | 5.8 % | 3.1 % | 6.3 % | 6.3 % | ||
| Equity ratio | 40.8 % | 48.2 % | 59.1 % | 63.6 % | 64.7 % | 64.3 % | 65.9 % | 66.3 % |
| Gearing ratio | 43.6 % | 13.1 % | 2.6 % | -1.6 % | 3.2 % | 2.5 % | -0.9 % | -3.4 % |
Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,513.3 | 6,960.4 | 1,479.1 | 1,540.3 | 1,517.6 | 1,518.8 | 6,055.8 | ||
| EBITDA | 15.1 | 416.0 | 36.5 | 55.6 | 86.4 | 35.4 | 213.9 | ||
| EBIT | -313.9 | -100.0 | -18.9 | 0.7 | 31.7 | -20.6 | -7.1 | ||
| Profit before taxes | -319.9 | -133.0 | -29.1 | -7.1 | 21.7 | -30.6 | -45.1 | ||
| Net income | -241.9 | -111.0 | -23.1 | -5.1 | 19.7 | -24.2 | -32.7 |
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Outokumpu Oyj, Q3'24
Outokumpu Oyj: Outokumpu interim report January-September 2024 - Solid third-quarter adjusted EBITDA driven by business areas Europe and Ferrochrome
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Outokumpu Oyj: Kati ter Horst resigns from Outokumpu board of directors, takes the helm as President and CEO as of October 1
Outokumpu Oyj: Outokumpu - Announcement regarding change in holdings
Outokumpu Oyj: Outokumpu - Manager transaction: Jyrki Mäki-Kala
