Anssi Raussi's questions to OUTOKUMPU OY /FI (OUTKY) leadership • Q1 2024
Question
Anssi Raussi inquired about the quantifiable EBITDA impact on the Americas division from Finnish strikes and operational issues, signs of a demand recovery in European white goods and its effect on the scrap market, and potential risks that could lead to flat Q2 EBITDA despite positive volume guidance.
Answer
CFO Pia Aaltonen-Forsell clarified that the Q1 strike impact was primarily upstream in Europe, with a smaller downstream impact expected in the Americas in Q2. CEO Heikki Malinen added details on a specific duct failure causing operational challenges. Regarding demand, Heikki Malinen noted early signs of a pickup in white goods but cautioned that a broader industrial recovery is needed to ease the tight scrap market. For Q2 guidance risks, Pia Aaltonen-Forsell highlighted scrap market tightness, the pace of operational recovery in the Americas, and nickel price volatility.