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Net sales fell to 1.4 billion. NEWSPAPER / MARKKU ULANDER
The adjusted operating result of the steel company Outokumpu fell to a loss of EUR 16 million in April-June, compared to a profit of EUR 33 million at the same time last year. Net sales fell to 1.4 billion from 1.7 billion euros in April-June last year.
According to the company, the reason for the decline in earnings was the weakening of global demand caused by the coronavirus pandemic. Stainless steel deliveries in April-June decreased by 10 percent compared to the corresponding period last year.
Outokumpu estimates that the coronary pandemic and related measures will have a significant impact on the stainless steel industry throughout this year. The company estimates that the Group’s stainless steel deliveries will decrease by approximately 10 percent in July-September from the April-June figures.