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    OUT1V   FI0009002422

OUTOKUMPU OYJ

(OUT1V)
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Delayed Nasdaq Helsinki  -  11:29:42 2023-02-02 am EST
5.210 EUR   -0.50%
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Outokumpu Oyj : is the first stainless steel producer to provide a product-specific carbon footprint based on continuous pr...

11/15/2022 | 01:11am EST
Outokumpu is the first stainless steel producer to provide a product-specific carbon footprint based on continuous production data

Outokumpu Oyj
Press release
November 15, 2022 at 8.00 am EET

Outokumpu is the first stainless steel producer to provide a product-specific carbon footprint based on continuous production data

Outokumpu is committed to help its customers to reduce their climate emissions. As part of its continuous development efforts in sustainability, Outokumpu is the first stainless steel producer to provide a product-specific carbon footprint on its stainless steel products. This will both help customers in their emission-reduction goals and support Outokumpu's long-term climate targets* and sustainability strategy.

"As the global leader in sustainable stainless steel, we are the frontrunner to push the whole industry forward. At the same time when customers are paying more attention to cutting down emissions, they are asking more specific information about the carbon footprint for each product and solution. We are happy to be the first stainless steel producer to provide the information for products produced in our mills in Europe. Now customers can utilize the data to calculate the product carbon footprints of their products and provide more sustainable solutions to the market", says Stefan Erdmann, Chief Technology Officer & Group Sustainability at Outokumpu.

The distinct feature of the calculation model Outokumpu is using is based on continuous follow-up of production data.

"In addition to customer value, the product-specific carbon footprint brings full transparency to the sustainability work Outokumpu is executing", Erdmann continues.

Transport industry shows an example of urgent need for emission-reduction actions

One of the industries benefiting from product-specific carbon footprint is transport. Transport accounts for 21% of global carbon emissions and the emissions from the transport sector are expected to grow by 20% by 2050**. Biofuels and electric vehicle solutions are already in use to cut emissions from heavy road traffic, but we need to use other solutions too. The reduction of emissions from a new vehicle is also affected by, for example, the steel material used in the manufacture of the vehicle and its carbon footprint.

"Road transportation, especially buses and coaches, is an area where stainless steel can have a very significant impact in helping to achieve carbon neutral mobility. Companies in the industry have ambitious climate targets and the end-customers' demands, as well as requirements coming from all major Original Equipment Manufacturers, guide the climate work forward. With this new feature, it is also interesting to see how the customers would now be able to design CO2-emission optimized products for the upcoming application generations - for example next-generation vehicles", says Markus Buckner, Head of Mobility & Transport at Outokumpu.

"Today, many companies are calculating and reporting direct and indirect emissions, but there is a growing need to reduce all other indirect emissions from a company's value chain. To calculate the complete CO2emissions down the supply chain it is essential to know the CO2impact of the pre-material - and that's why the product-specific information is needed. Outokumpu is in a great position to support the steel industry with the knowledge of being the only stainless steel producer to report emissions from all three scopes and to have the leading role in using recycled material for over 90% globally", Buckner continues.

*) Outokumpu's climate target is to reduce carbon dioxide emissions by 42% by 2030 from the base year of 2016. This translates to an emission reduction of 14% by the end of 2025 from the 2021 levels, in accordance with the Science-Based Targets initiative's 1.5 climate target. Outokumpu is the only producer of stainless steel with a climate target approved by the initiative.

**) https://www.weforum.org/agenda/2021/11/global-transport-carbon-emissions-decarbonise/

For more information:

Product carbon footprint | Outokumpu

Outokumpu's media desk, tel. +358 40 351 9840, e-mail media@outokumpu.com

Outokumpu Group

Disclaimer

Outokumpu Oyj published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2022 06:10:03 UTC.


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Sales 2022 9 715 M 10 622 M 10 622 M
Net income 2022 926 M 1 012 M 1 012 M
Net Debt 2022 27,5 M 30,1 M 30,1 M
P/E ratio 2022 2,69x
Yield 2022 4,97%
Capitalization 2 300 M 2 515 M 2 515 M
EV / Sales 2022 0,24x
EV / Sales 2023 0,23x
Nbr of Employees 8 602
Free-Float 79,9%
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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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