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    OUT1V   FI0009002422

OUTOKUMPU OYJ

(OUT1V)
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Delayed Nasdaq Helsinki  -  11:29 2022-09-28 am EDT
3.614 EUR   -1.20%
09/26Outokumpu restates consolidated statement of income and relevant Group and segment key figures for 2021 and first half of 2022 to reflect the divestment of majority of its Long Products business
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Outokumpu Oyj : and Fiskars Group join forces with emission-minimized stainless steel for cookware products

06/15/2022 | 01:33am EDT
Outokumpu and Fiskars Group join forces with emission-minimized stainless steel for cookware products

Outokumpu Oyj, Fiskars Corporation
Press release
June 15, 2022 at 8.15 am EEST

Outokumpu and Fiskars Group join forces with emission-minimized stainless steel for cookware products

Stainless steel producer Outokumpu introduced today a new product line, emission-minimized stainless steel Circle Green, with the lowest carbon footprint in the stainless steel manufacturing industry. Fiskars Group, the global home of design-driven brands for indoor and outdoor living, will be the first company to use this as a raw material in Fiskars branded cookware products made at Fiskars Group's Sorsakoski Factory in Finland.

"We at Outokumpu have a long history with Fiskars Group, and it is only natural that we will share this remarkable moment together: we are now introducing the Outokumpu Circle Green, an emission-minimized stainless steel with 92% lower carbon footprint than the industry average. It is truly a pleasure that Fiskars Group will be the first company to make use of it", says Heikki Malinen, President and CEO, Outokumpu.

"Sustainability is a key element of our Fiskars Group Growth Strategy. We can only achieve our ambitious sustainability targets through partnerships. This collaboration with Outokumpu is a great example of pioneering design applied at every step of the product's journey; from innovative, lower emission raw materials to long-lasting, quality cookware," says Nathalie Ahlström, President and CEO at Fiskars Group.

Outokumpu and Fiskars Group share a similar broad-scoped approach, ambition, and commitments to sustainability. The companies have committed to stringent climate goals according to the Science Based Targets initiative. Using the emission-minimized stainless steel also supports Fiskars Group's target of having the majority of the company's net sales coming from circular products and services by 2030.

The Circle Green production was first of its kind globally, as no other stainless steel manufacturer has been able to produce stainless steel with such low emission levels when taking into account all the climate emissions through the whole production chain (scopes 1, 2 & 3). Outokumpu reviewed and optimized the emissions from each production step from the stainless steel melt process and energy production to transport and raw material production.

Despite the significantly smaller carbon footprint than Outokumpu's regular stainless steel, the emission-minimized Outokumpu Circle Green stainless steel has the same high performance. Outokumpu produced the world's first end-to-end emission-minimized stainless steel production melt in Tornio, Finland in April 2022.

For more information:

Outokumpu:Päivi Allenius, VP - Communications, tel. +358 40 753 7374

Fiskars Group Media Relations: press@fiskars.com, tel. +358 40 553 3151

outokumpu.com/circlegreen

fiskarsgroup.com

Circle Green media kit

Outokumpu in brief

Outokumpu is the global leader in stainless steel. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose.

Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization's basic structures and its most famous landmarks as well as products for households and various industries.

Outokumpu employs approximately 9,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed on Nasdaq Helsinki.

Fiskars Group in brief

Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Our brands include Fiskars, Gerber, Iittala, Royal Copenhagen, Moomin by Arabia, Waterford, and Wedgwood. Our brands are present in more than 100 countries and we have more than 350 own stores. We have 7,000 employees and our global net sales in 2021 were EUR 1.3 billion.

We are driven by our common purpose: Pioneering design to make the everyday extraordinary. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth.

Read more: fiskarsgroup.com

Disclaimer

Outokumpu Oyj published this content on 15 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2022 05:32:05 UTC.


© Publicnow 2022
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Sales 2022 10 108 M 9 748 M 9 748 M
Net income 2022 815 M 786 M 786 M
Net cash 2022 323 M 312 M 312 M
P/E ratio 2022 2,07x
Yield 2022 8,32%
Capitalization 1 636 M 1 578 M 1 578 M
EV / Sales 2022 0,13x
EV / Sales 2023 0,13x
Nbr of Employees 9 173
Free-Float 79,8%
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Last Close Price 3,61 €
Average target price 5,67 €
Spread / Average Target 56,9%
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Managers and Directors
Heikki Pekka Mikael Malinen President & Chief Executive Officer
Pia Aaltonen-Forsell Chief Financial Officer
Kari Alpo Erik Jordan Chairman
Stefan Erdmann Chief Technology Officer
Pierre Vareille Independent Director
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