Outokumpu sells real estate in Germany for EUR 90 million

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Outokumpu Oyj
Inside information
May 8, 2019 at 8.00 am EEST

Outokumpu sells real estate in Germany for EUR 90 million

Outokumpu and CG Gruppe AG have signed an agreement regarding the sale of Outokumpu’s real estate in Benrath, Germany. The value of the transaction is EUR 90 million. The deal is expected to be closed in the third quarter and the cash proceeds will be used to reduce debt. The positive impact on EBITDA from the transaction is expected to be approximately EUR 68 million which will be reported as an adjustment in the third-quarter results.

The sold land has been unused since 2016 when Outokumpu closed its cold rolling operations in Benrath as part of the restructuring of the company’s European operations.

For more information:

Investors: Tommi Järvenpää, VP – Investor Relations, tel. +358 40 576 0288

Media: Reeta Kaukiainen, EVP – Communications and IR, tel. +358 50 522 0924

Outokumpu Oyj

Outokumpu is the global leader in stainless steel. We aim to be the best value creator in stainless steel by 2020, through our competitive edge of customer orientation and efficiency. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com