Finland's political strikes persist, extending into their third consecutive week, now slated to last until March 31, 2024. Consequently, Outokumpu has revised its projections for the first quarter of 2024, anticipating a decline in adjusted EBITDA compared to the EUR 72 million reported in the fourth quarter of 2023.

Since the strike began on March 11, 2024, Outokumpu initially adjusted its first-quarter forecast downward, expecting EBITDA to match or dip below the levels seen in the final quarter of 2023. They foresaw a projected loss of EUR 40 million over the initial 14-day period.

As the strike persists, Outokumpu has further revised its first-quarter guidance, factoring in an additional seven days of disruption. This extended impact is estimated to incur approximately EUR 25 million in losses, bringing the total estimated loss over three weeks to EUR 65 million.

The strike, aimed at the Finnish government, has effectively halted Outokumpu's operations in Finland, causing disruptions in deliveries and internal material flows across Europe and the Americas.

Source from Yieh Corp