Outokumpu (OUT1V) - SCENARIOS



Last update 11/09/2016
 FY 2014FY 2015FY 2016 EFY 2017 EFY 2018 E
Consolidated statement of income (in Euro m)
Sales 6,844.0 6,384.0 5,725.0 6,281.7 6,663.0 
Underlying EBITDA 232.0 196.0 276.5 523.2 626.2 
EBIT reported -243.0 228.0 52.6 283.2 382.6 
Underlying EBIT -88.0 -101.0 39.0 283.2 382.6 
Result before taxes reported -459.0 127.0 -60.4 186.0 292.3 
Underlying result before taxes n.a. -202.0 -71.4 186.0 292.3 
Net income attributable to shareholders (cont operations) n.a. 96.0 -59.8 156.9 243.9 
Underlying net income attributable to shareholders n.a. -233.0 -68.3 156.9 243.9 
EPS reported based on cont operations (in Euro) n.a. 0.2 -0.1 0.4 0.6 
Underlying EPS (in Euro) n.a. -0.60 -0.20 0.38 0.59 
Dividend per share (in Euro) n.a. 0.00 0.00 0.02 0.11 
Consolidated balance sheet (in Euro m)
Non-current assets 3,783.0 3,566.0 3,229.7 2,863.4 2,481.0 
Current assets 2,548.0 2,257.0 2,963.8 3,109.9 3,208.5 
Other assets 80.0 51.0 51.0 51.0 51.0 
Total assets 6,411.0 5,874.0 6,244.5 6,024.3 5,740.6 
Shareholders equity 2,132.0 2,329.0 -672.7 -4,876.2 -9,299.2 
Minority interest 0.0 0.0 0.0 0.0 0.0 
Provisions 570.0 482.0 3,984.0 7,857.6 11,921.8 
Interest bearing liabilities 2,166.0 1,796.0 1,796.0 1,796.0 1,796.0 
Non-interest bearing liabilities 1,543.0 1,267.0 1,137.1 1,246.8 1,322.0 
Total equity and liabilities 6,411.0 5,874.0 6,244.5 6,024.3 5,740.6 
Consolidated statement of cash flow (in Euro m)
Net cash from operating activities -126.0 -35.0 3,922.1 4,169.4 4,398.6 
Net cash from investing activities -163.0 239.0 -3,001.5 -4,203.9 -4,423.6 
Net cash from financing activities -117.0 -213.0 0.0 0.0 0.0 
Net change in cash and cash equivalents -406.0 -9.0 920.6 -34.5 -25.0 
Cash and cash equivalents at January 1 -12.0 0.0 0.0 0.0 0.0 
Cash and cash equivalents 607.0 191.0 182.0 1,102.6 1,068.1 
Key ratios
Valuation
EV/Sales 1.11 0.62 0.72 0.51 0.48 
EV/EBITDA 32.8 20.2 14.9 6.1 5.1 
EV/EBIT n.m. n.m. 105.4 11.3 8.4 
P/E reported n.a. 20.7 n.m. 15.8 10.2 
P/E adjusted n.a. n.m. n.m. 15.8 10.2 
Price/Book 1.90 0.85 -3.72 -0.51 -0.27 
Profitability ratios in %
EBITDA margin -3.6 3.6 0.9 4.5 5.7 
EBIT margin -6.7 2.0 -1.1 3.0 4.4 
Pre tax margin n.a. 1.5 -1.0 2.5 3.7 
Net margin n.a. 0.0 0.0 0.0 0.0 
Productivity ratios
Sales/employee (in thousand Euro) 544.9 508.2 520.4 571.0 605.6 
Net earnings/employee (in thousand Euro) n.a. 0.0 0.0 0.0 0.1 
Number of employees 12,561 12,561 11,002 11,002 11,002 
Financial ratios in %
Equity ratio 33.3 39.7 -10.8 -80.9 -162.0 
Net financial debt 1,975.0 1,610.0 689.4 723.9 749.0 
Netgearing 92.6 69.1 -102.5 -14.9 -8.1 
Dividend yield n.a. n.m. n.m. 0.0 0.0 
Last update on 11/09/2016
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, Handelsbanken, Jefferies, Kepler Cheuvreux, Pareto Securities, 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 2016-09-29 03:10:34