HISTORICAL RESTATED FINANCIAL INFORMATION OF OUTOKUMPU FOLLOWING THE SALE OF OUTOKUMPU TECHNOLOGY SH
OUTOKUMPU OYJ STOCK EXCHANGE RELEASE OCTOBER 18, 2006 AT 16.30 PM
HISTORICAL RESTATED FINANCIAL INFORMATION OF OUTOKUMPU FOLLOWING THE
SALE OF OUTOKUMPU TECHNOLOGY SHARES
The offering of shares in Outokumpu Technology Oyj was completed on
October 9, 2006. As a result of the offering Outokumpu sold 36 960
001 shares in Outokumpu Technology and Outokumpu´s holding in
Outokumpu Technology was reduced to 12%. Consequently Outokumpu
Technology has been classified as a discontinued operation and will
be reported in the third quarter interim report separately from the
continuing operations according to IFRS 5 Non-current Assets Held
for Sale and Discontinued Operations. Proceeds and capital gain from
the sale will be recorded in the Groups fourth quarter results.
The attached tables present restated comparative financial figures
of Outokumpu Group for 2005 and 2006 following the classification of
Outokumpu Technology as a discontinued operation.
For further information, please contact:
Kari Lassila, SVP IR and Communications, tel. +358 9 421 2555
kari.lassila@outokumpu.com
OUTOKUMPU OYJ
Corporate Management
Ingela Ulfves
Vice President - Investor Relations
tel. + 358 9 421 2438, mobile +358 40 515 1531, fax +358 9 421 2125
e-mail: ingela.ulfves@outokumpu.com
www.outokumpu.com
RESTATED COMPARATIVE FINANCIAL FIGURES OF OUTOKUMPU
Sales and operating profit from continuing
operations
EUR million I/05 II/05 III/05 IV/05 2005 I/06 II/06
Sales
General Stainless 1 286 1 158 813 816 4 073 1 013 1 066
Specialty Stainless 785 819 584 552 2 739 650 638
Other operations 55 71 70 76 272 87 93
Intra-group sales (732) (605) (404) (328) (2 068) (342) (405)
The Group 1 394 1 442 1 063 1 117 5 016 1 408 1 392
Operating profit
General Stainless 71 93 (55) (170) (62) 43 91
Specialty Stainless 55 65 14 (23) 110 22 65
Other operations 9 (3) 10 (8) 8 2 (8)
Intra-group items (6) 3 5 (1) 1 (0) 1
The Group 129 157 (26) (202) 57 67 149
Income statement by
quarter
EUR million I/05 II/05 III/05 IV/05 2005 I/06 II/06
Continuing operations:
Sales 1 394 1 442 1 063 1 117 5 016 1 408 1 392
Operating profit 129 157 (26) (202) 57 67 149
Share of results
in associated companies (1) 2 (0) 0 1 0 2
Financial income and (13) (22) (19) (13) (67) (7) (10)
expenses
Profit/(loss) before 115 137 (45) (215) (8) 60 141
taxes
Income taxes (19) (37) 10 31 (16) (18) (29)
Net profit/(loss)
for the period
from continuing
operations 96 99 (36) (184) (24) 41 112
Net profit/(loss)
for the period
from discontinued (340) (3) (0) 4 (339) 15 20
operations
Net profit/(loss)
for the period (244) 97 (36) (180) (363) 56 133
Attributable to:
Equity holders of the (245) 96 (36) (179) (364) 56 133
Company
Minority interest 1 1 0 (1) 1 (0) 0
Key figures by quarter
EUR million I/05 II/05 III/05 IV/05
Operating profit margin, % 9.2 10.9 (2.4) (18.1)
Return on capital employed, % 11.6 15.6 (2.6) (21.4)
Return on equity, % (41.0) 17.2 (6.4) (33.5)
Return on equity, continuing 16.1 17.6 (6.3) (34.2)
operations, %
Capital employed at end of period 3 953 4 084 3 981 3 599
Net interest-bearing debt at end of 1 695 1 822 1 744 1 537
period
Equity-to-assets ratio
at end of period, % 35.5 37.2 38.7 38.2
Debt-to-equity ratio at end of 75.0 80.6 77.9 74.5
period, %
Earnings per share, EUR (1.35) 0.53 (0.20) (0.99)
Earnings per share from
continuing operations, EUR 0.53 0.54 (0.20) (1.01)
Earnings per share from
discontinued operations, EUR (1.88) (0.01) (0.00) 0.02
Average number of shares
outstanding, in thousands 1) 180 901 181 032 181 032 181 032
Equity per share at end of period, 12.39 12.41 12.27 11.31
EUR
Number of shares outstanding
at end of period, in thousands 1) 181 032 181 032 181 032 181 032
Capital expenditure, continuing 29 46 37 53
operations
Depreciation, continuing operations 51 52 52 53
Average personnel for
the period, continuing operations 9 645 9 973 9 877 9 186
EUR million 2005 I/06 II/06
Operating profit margin, % 1.1 4.7 10.7
Return on capital employed, % 1.3 7.5 16.5
Return on equity, % (15.9) 11.0 25.2
Return on equity, continuing (1.1) 8.1 21.4
operations, %
Capital employed at end of period 3 599 3 513 3 680
Net interest-bearing debt at end of 1 537 1 483 1 509
period
Equity-to-assets ratio at end of 38.2 37.4 38.4
period, %
Debt-to-equity ratio at end of 74.5 73.0 69.5
period, %
Earnings per share, EUR (2.01) 0.31 0.73
Earnings per share from
continuing operations, EUR (0.14) 0.23 0.62
Earnings per share from
discontinued operations, EUR (1.87) 0.08 0.11
Average number of shares
outstanding, in thousands 1) 181 031 181 032 181 032
Equity per share at end of period, 11.31 11.14 11.91
EUR
Number of shares outstanding
at end of period, in thousands 1) 181 032 181 032 181 032
Capital expenditure, continuing 164 33 34
operations
Depreciation, continuing operations 207 50 50
Average personnel for
the period, continuing operations 9 579 8 746 8 822
1) The number of own shares repurchased is excluded.
