Outokumpu (OUT1V) - OVERVIEW



Last update 02/12/2016
Q4 2016 E
 Number of EstimatesHighestConsensusMedianLowest
Group stainless steel deliveries 10 643.0 600.2 601.5 577.5 
Sales 17 1,564.0 1,437.9 1,429.0 1,344.0 
Underlying EBITDA 17 125.0 90.4 90.0 68.0 
Depreciation & Amortisation incl non-recurring items 17 -46.0 -56.4 -56.0 -69.0 
EBIT reported 18 70.0 40.1 37.0 6.0 
Adjustments to EBIT 18 25.0 6.3 0.0 -16.0 
Underlying EBIT 18 56.0 33.7 32.5 21.0 
Net financials 18 -10.0 -26.1 -27.5 -40.0 
Result before taxes reported 18 48.0 14.0 10.4 -23.0 
Underlying result before taxes 18 28.0 7.6 8.0 -19.0 
Net income attributable to shareholders (cont operations) 17 33.0 13.4 12.0 -23.0 
Underlying net income attributable to shareholders 17 27.0 6.7 5.0 -9.0 
Average number of shares (in Mio) 17 416.4 416.4 416.4 416.4 
EPS reported based on cont operations (in Euro) 17 0.08 0.03 0.03 -0.06 
Underlying EPS (in Euro) 17 0.06 0.02 0.01 -0.02 
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 10 2,490.0 2,447.2 2,448.5 2,424.5 
Sales 17 5,748.0 5,621.9 5,613.0 5,528.0 
Underlying EBITDA 17 324.0 289.2 289.0 267.0 
Depreciation & Amortisation incl non-recurring items 17 -238.0 -248.4 -248.0 -261.0 
EBIT reported 18 104.0 74.1 71.0 40.0 
Adjustments to EBIT 18 52.0 33.4 27.0 11.0 
Underlying EBIT 18 63.0 40.7 39.5 28.0 
Net financials 18 -100.0 -116.1 -117.5 -130.0 
Result before taxes reported 18 -8.0 -41.9 -45.6 -79.0 
Underlying result before taxes 18 -55.0 -75.4 -75.0 -102.0 
Net income attributable to shareholders (cont operations) 17 -15.0 -34.6 -36.0 -71.0 
Underlying net income attributable to shareholders 17 -48.0 -68.4 -70.0 -84.0 
Average number of shares (in Mio) 17 416.4 416.4 416.4 416.4 
EPS reported based on cont operations (in Euro) 17 -0.04 -0.08 -0.09 -0.17 
Underlying EPS (in Euro) 17 -0.12 -0.16 -0.17 -0.20 
Return on Capital Employed 2.6 1.7 1.8 0.5 
Operating Cash Flow 15 395.0 298.9 315.0 132.9 
Capex 17 -111.0 -139.3 -140.0 -150.0 
Free Cash Flow 15 255.0 159.7 172.4 -13.8 
Net financial debt 16 1,601.0 1,405.9 1,384.5 1,285.0 
 
FY 2017 E
 Number of EstimatesHighestConsensusMedianLowest
Group stainless steel deliveries 2,653.0 2,539.3 2,543.0 2,330.0 
Sales 17 6,786.0 6,222.0 6,151.0 5,899.0 
Underlying EBITDA 17 736.0 582.8 566.4 500.0 
Depreciation & Amortisation incl non-recurring items 17 -203.0 -236.8 -234.0 -290.0 
EBIT reported 18 499.0 341.9 324.0 264.0 
Adjustments to EBIT 18 0.0 -1.1 0.0 -10.0 
Underlying EBIT 18 509.0 343.0 324.0 264.0 
Net financials 18 -74.0 -96.2 -97.0 -122.0 
Result before taxes reported 18 416.0 245.7 235.5 173.0 
Underlying result before taxes 18 426.0 246.8 235.5 173.0 
Net income attributable to shareholders (cont operations) 18 416.0 208.6 188.0 122.0 
Underlying net income attributable to shareholders 18 426.0 209.7 188.0 122.0 
Average number of shares (in Mio) 18 416.4 416.4 416.4 416.4 
EPS reported based on cont operations (in Euro) 18 1.00 0.50 0.45 0.29 
Underlying EPS (in Euro) 18 1.02 0.50 0.45 0.29 
Return on Capital Employed 12.0 8.3 7.7 4.6 
Operating Cash Flow 15 578.0 421.2 383.0 295.0 
Capex 18 -138.0 -154.8 -154.8 -180.0 
Free Cash Flow 15 418.0 266.5 234.0 146.0 
Net financial debt 16 1,420.0 1,156.7 1,158.5 910.0 
 
FY 2018 E
 Number of EstimatesHighestConsensusMedianLowest
Group stainless steel deliveries 2,727.0 2,598.9 2,594.0 2,375.0 
Sales 17 7,447.0 6,506.2 6,482.0 5,970.3 
Underlying EBITDA 17 769.0 657.9 657.0 565.0 
Depreciation & Amortisation incl non-recurring items 17 -203.0 -240.0 -230.0 -318.0 
EBIT reported 18 503.0 415.4 411.0 335.0 
Adjustments to EBIT 18 0.0 0.0 0.0 0.0 
Underlying EBIT 18 503.0 415.4 411.0 335.0 
Net financials 18 -48.0 -85.8 -87.5 -120.0 
Result before taxes reported 18 430.0 329.6 321.5 265.0 
Underlying result before taxes 18 430.0 329.6 321.5 265.0 
Net income attributable to shareholders (cont operations) 18 401.0 269.2 262.5 194.0 
Underlying net income attributable to shareholders 18 401.0 269.2 262.5 194.0 
Average number of shares (in Mio) 18 416.4 416.4 416.4 416.4 
EPS reported based on cont operations (in Euro) 18 0.96 0.65 0.63 0.47 
Underlying EPS (in Euro) 18 0.96 0.65 0.63 0.47 
Return on Capital Employed 11.6 9.5 9.8 5.9 
Operating Cash Flow 15 591.3 453.3 458.0 143.0 
Capex 18 -116.0 -156.9 -160.0 -180.0 
Free Cash Flow 15 449.1 296.7 298.0 27.0 
Net financial debt 16 1,338.0 899.0 871.0 542.0 
 
 
Last update on 02/12/2016
The earnings estimates of the following institutions were included in the above figures:
ABG Sundal Collier, ABN AMRO, BoA Merrill Lynch, Carnegie, Credit Suisse, Danske Markets, Deutsche Bank, Evli Bank, Handelsbanken, Inderes, J.P. Morgan Cazenove, Jefferies, Kepler Cheuvreux, Nordea Markets, Pareto Securities, Pohjola Bank, SEB Enskilda, Swedbank
 
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 2016-12-04 03:11:57