Outokumpu (OUT1V) - OVERVIEW



Last update 20/07/2016
Q2 2016 E
 Number of EstimatesHighestConsensusMedianLowest
Group stainless steel deliveries 14 656.0 617.9 611.5 600.0 
Sales 17 1,585.0 1,429.6 1,417.2 1,317.2 
Underlying EBITDA 17 70.0 50.3 48.2 35.5 
Depreciation & Amortisation incl non-recurring items 16 -57.0 -61.3 -61.0 -72.0 
EBIT reported 13 -11.4 -42.9 -51.0 -56.0 
Adjustments to EBIT 13 -15.0 -34.7 -40.0 -42.0 
Underlying EBIT 16 13.0 -10.1 -12.4 -22.1 
Net financials 16 -13.8 -26.9 -26.8 -37.2 
Result before taxes reported 12 -44.4 -69.0 -73.7 -89.8 
Underlying result before taxes 15 -16.9 -39.4 -40.0 -77.3 
Net income attributable to shareholders (cont operations) 13 -41.0 -60.7 -60.0 -77.9 
Underlying net income attributable to shareholders 15 -14.9 -32.8 -31.8 -58.8 
Average number of shares (in Mio) 16 416.4 416.4 416.4 416.4 
EPS reported based on cont operations (in Euro) 13 -0.1 -0.2 -0.1 -0.2 
Underlying EPS (in Euro) 15 -0.0 -0.1 -0.1 -0.1 
Dividend per share (in Euro) 
Return on Capital Employed 
Operating Cash Flow 
Capex 
Free Cash Flow 
Net financial debt 
 
Q3 2016 E
 Number of EstimatesHighestConsensusMedianLowest
Group stainless steel deliveries 14 630.0 591.8 595.5 532.0 
Sales 17 1,704.0 1,404.3 1,401.0 1,222.4 
Underlying EBITDA 17 119.0 77.7 73.5 55.0 
Depreciation & Amortisation incl non-recurring items 16 -55.3 -61.3 -61.0 -75.0 
EBIT reported 16 46.0 14.6 14.2 -12.0 
Adjustments to EBIT 16 7.3 -2.0 0.0 -20.0 
Underlying EBIT 16 56.0 16.6 11.7 -12.0 
Net financials 16 -13.8 -26.9 -26.3 -35.3 
Result before taxes reported 15 26.0 -11.2 -14.0 -40.1 
Underlying result before taxes 15 26.0 -9.0 -15.0 -26.0 
Net income attributable to shareholders (cont operations) 16 26.0 -8.3 -10.7 -32.0 
Underlying net income attributable to shareholders 15 26.0 -6.0 -10.7 -21.2 
Average number of shares (in Mio) 16 416.4 416.4 416.4 416.4 
EPS reported based on cont operations (in Euro) 16 0.1 -0.0 -0.0 -0.1 
Underlying EPS (in Euro) 15 0.1 -0.0 -0.0 -0.1 
Dividend per share (in Euro) 
Return on Capital Employed 
Operating Cash Flow 
Capex 
Free Cash Flow 
Net financial debt 
 
FY 2016 E
 Number of EstimatesHighestConsensusMedianLowest
Group stainless steel deliveries 15 2,517.2 2,398.3 2,406.7 2,169.0 
Sales 20 6,460.0 5,702.9 5,672.5 5,168.9 
Underlying EBITDA 20 415.0 270.1 259.5 182.0 
Depreciation & Amortisation incl non-recurring items 19 -217.5 -243.4 -238.0 -291.0 
EBIT reported 17 102.0 2.0 -2.0 -53.0 
Adjustments to EBIT 17 31.0 -29.2 -32.0 -82.0 
Underlying EBIT 19 184.0 27.8 11.0 -56.0 
Net financials 20 -55.3 -108.9 -109.5 -141.6 
Result before taxes reported 17 -19.0 -107.2 -122.7 -170.0 
Underlying result before taxes 19 53.0 -80.2 -92.9 -159.0 
Net income attributable to shareholders (cont operations) 18 -19.0 -94.7 -101.1 -145.8 
Underlying net income attributable to shareholders 19 62.0 -64.3 -74.0 -142.0 
Average number of shares (in Mio) 20 416.4 416.4 416.4 416.4 
EPS reported based on cont operations (in Euro) 18 -0.1 -0.2 -0.2 -0.4 
Underlying EPS (in Euro) 19 0.2 -0.2 -0.2 -0.3 
Dividend per share (in Euro) 20 0.1 0.0 0.0 0.0 
Return on Capital Employed 11 2.1 0.0 0.0 -1.0 
Operating Cash Flow 19 389.73 261.57 254.00 88.00 
Capex 19 -130.00 -142.20 -140.00 -154.00 
Free Cash Flow 19 249.73 119.37 114.00 -52.00 
Net financial debt 19 1,662.00 1,466.27 1,469.70 1,309.00 
 
FY 2017 E
 Number of EstimatesHighestConsensusMedianLowest
Group stainless steel deliveries 15 2,670.0 2,476.7 2,485.0 2,234.0 
Sales 20 7,300.0 6,142.9 6,083.5 5,465.0 
Underlying EBITDA 20 753.0 482.0 468.4 310.0 
Depreciation & Amortisation incl non-recurring items 19 -212.0 -239.8 -233.0 -294.0 
EBIT reported 19 515.0 240.2 234.0 77.0 
Adjustments to EBIT 19 0.0 -1.6 0.0 -10.1 
Underlying EBIT 19 525.0 241.8 234.0 77.0 
Net financials 20 -61.2 -97.2 -100.0 -125.0 
Result before taxes reported 19 416.0 143.9 142.0 -29.0 
Underlying result before taxes 19 426.0 145.4 142.0 -29.0 
Net income attributable to shareholders (cont operations) 20 416.0 121.8 113.3 -20.0 
Underlying net income attributable to shareholders 19 426.0 123.6 110.0 -20.0 
Average number of shares (in Mio) 20 416.4 416.4 416.4 416.4 
EPS reported based on cont operations (in Euro) 20 1.0 0.3 0.3 -0.1 
Underlying EPS (in Euro) 19 1.0 0.3 0.3 -0.1 
Dividend per share (in Euro) 20 0.3 0.0 0.0 0.0 
Return on Capital Employed 11 8.3 5.0 5.1 2.0 
Operating Cash Flow 19 556.00 336.75 341.00 138.00 
Capex 19 -136.68 -150.32 -150.00 -163.00 
Free Cash Flow 19 411.00 186.43 181.00 -2.00 
Net financial debt 19 1,664.0 1,303.2 1,330.0 972.0 
 
FY 2018 E
 Number of EstimatesHighestConsensusMedianLowest
Group stainless steel deliveries 15 2,800.0 2,539.7 2,537.0 2,271.0 
Sales 20 7,981.1 6,488.0 6,429.5 5,623.7 
Underlying EBITDA 19 753.0 573.3 545.1 428.0 
Depreciation & Amortisation incl non-recurring items 18 -212.0 -239.9 -230.5 -300.0 
EBIT reported 19 509.0 335.8 317.9 181.3 
Adjustments to EBIT 19 0.0 0.0 0.0 0.0 
Underlying EBIT 19 509.0 335.8 317.9 181.3 
Net financials 20 -65.0 -89.9 -90.0 -116.8 
Result before taxes reported 19 444.0 247.3 225.0 92.0 
Underlying result before taxes 19 444.0 247.3 225.0 92.0 
Net income attributable to shareholders (cont operations) 20 374.0 195.2 178.8 64.0 
Underlying net income attributable to shareholders 19 374.0 197.2 181.0 64.0 
Average number of shares (in Mio) 20 416.4 416.4 416.4 416.4 
EPS reported based on cont operations (in Euro) 20 0.9 0.5 0.4 0.2 
Underlying EPS (in Euro) 19 0.9 0.5 0.4 0.2 
Dividend per share (in Euro) 19 0.3 0.1 0.1 0.0 
Return on Capital Employed 10 10.2 7.1 7.1 4.6 
Operating Cash Flow 18 645.00 388.70 416.00 159.92 
Capex 18 -115.90 -155.57 -160.00 -187.00 
Free Cash Flow 18 475.00 233.13 256.00 44.02 
Net financial debt 18 1,581.0 1,101.8 1,133.2 552.0 
 
Last update on 20/07/2016
The earnings estimates of the following institutions were included in the above figures:
ABG Sundal Collier, ABN AMRO , Berenberg, BoA Merrill Lynch, Carnegie, Credit Suisse, Danske Markets, Deutsche Bank, Evli Bank, Exane BNP Paribas, Goldman Sachs, Handelsbanken, Inderes, Jefferies, Kepler Cheuvreux, Nordea Markets, Pohjola Bank, SEB Enskilda, Swedbank, UBS
 
Disclaimer
This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.

file data build at 2016-07-23 03:22:31