Outokumpu's net profit increases

Outokumpu, the largest stainless steel producer in Europe, announced that it increased its net profit in 2017 to 392 million euros, up from 144 million euros in 2016.
Its sales increased by 12% to 6.36 billion tons in the same period. It was recorded in the previous year due to the impact of high alloy steel prices in Europe and the United States and higher average base prices.

Outokumpu's revenue in 2017 grew significantly, initially driven by high-grade ferrochrome and floor price trends. Also, the significant increase in Outokumpu's revenue was largely driven by improved cost-effectiveness.