AvestaPolarit Annual Accounts 2002

AvestaPolarit Annual Accounts 2002 Profitability improved significantly in 2002 * Despite the sluggish world economy, demand in stainless steel markets grew in 2002 following the decline in 2001. The first half of the year saw rising demand followed by a market slowdown after the summer break, as it became apparent that the global economic recovery would be delayed. * Both net sales and operating profit for the financial year were up compared to 2001, as a result of higher prices and delivery volumes. Net sales for 2002 amounted to EUR 3 002 million (EUR 2 977 million), operating profit to EUR 232 million (EUR 141 million) and profit before extraordinary items to EUR 219 million (EUR 131 million). * By the end of December Outokumpu Oyj had acquired over 99% of AvestaPolarit shares and the share was delisted from the Stockholm Stock Exchange. The shares will be delisted from the Helsinki Stock Exchange as soon as Outokumpu has gained title as the sole owner of all shares in AvestaPolarit. For further information, please contact: Jouni Grönroos, Executive Vice President - Finance, +358 (0)9 5764 5510 or +358 (0)40 504 5125 Hannele Öbrink, Manager - Investor Relations, +46 (0)8 613 4419 or +46 (0)70 652 1032 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/02/17/20030217BIT00310/wkr0001.doc http://www.waymaker.net/bitonline/2003/02/17/20030217BIT00310/wkr0002.pdf