Outokumpu's performance report released on October 26 showed that even if the cost reduction, raised European base prices and also increased shipments of Americas, but due to a loss of 41 million euros in inventories of related raw materials and metals, as well as the production problems of third-party suppliers in the Americas, which led to profit margin decrease year-on-year in the third quarter of 2017.
In the third quarter, stainless steel shipments to foreign countries were nearly 2.5% increase from 608,000 tons in the same period of last year to 623,000 tons, down slightly from 625,000 tons in the previous quarter. Among them, the cold rolled sheet chain increased to 449,000 tons, white skin tropical increased compared to the same period, but chain dropped to 106,000 tons, the single-rolled plate chain fell to 17,000 tons, long products increased but chain down to 1.6 million tons , black skin tropical, flat slab, blank and other semi-finished products increased compared to the same period, but dropped to 35,000 tons. In addition, shipments of ferrochromium to foreign countries of the quarter dropped to 17,000 tonnes.
Sales in the third quarter increased from 1.141 billion euros to 1.482 billion euros, but below from 1.659 billion euros in the previous quarter; EBITDA dropped to 62 million euros compared with 119 million euros in the same period of last year and 209 million euros in the previous quarter. Adjusted EBITDA dropped to 56 million euros compared with 116 million euros in the previous year and 199 million euros in the previous quarter; the net profit was down 27 million euros compared with 13 million euros in the same period of last year and 109 million euros in the previous quarter.