"The market situation has continued to be favorable for us, which is evidenced by many record high figures. Last twelve month sales climbed over 700 million euros and our operating profit topped 50 million euros resulting in operating profit margin of over 7%. In addition to better market conditions, our margin improvement is a result of a three-year internal efficiency improvement program started in 2003, which focused on improving resourcing and procurement. We see how the unprecedented demand for metals is led by high population economies such as China and India. In addition to building new plants, our customers are continuously looking at new technologies in order to expand their facilities and further develop their processes. We have been working hard and succeeded in capturing the momentum, and will continue to be a proactive player on the market."
Following a high order intake during the reporting period, the whole year sales and operating profit will be clearly better than in 2005. Profitability is expected to improve also in the last quarter of 2006. However, the fourth quarter operating profit of 2006 will settle somewhat below the fourth quarter of 2005, which included significant license fees and back-ended project completions. Furthermore, Outokumpu Technology's strong order backlog and order intake provide a solid basis for a good financial performance in 2007.
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INVITATION TO ANALYST AND MEDIA BRIEFING
Analysts and media are invited to a briefing, at which CEO Tapani Järvinen and CFO Vesa-Pekka Takala will present the third quarter 2006 results.
Time: 2.00 pm (GMT +2)
Venue: Hotel Kämp, Akseli Gallen-Kallela Room, Pohjoisesplanadi 29, Helsinki
Outokumpu Technology will host a live audio webcast at
The briefing may be joined also by telephone. To register as a participant for the teleconference, please email your name and company details to ir(at)outokumputechnology.com.
Helsinki Stock Exchange