May 7, 2019 / 6:09 AM / 17 days ago

Outokumpu Q1 profits hit by rising costs, high inventories

HELSINKI, May 7 (Reuters) - Finnish stainless steel maker Outokumpu reported on Tuesday a fall in January-March profits, hit by rising input costs and high distributor inventory levels.

In the first quarter, the firm’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 59 percent to 54 million euros, missing analysts’ average forecast of 66.2 million in a Reuters survey, but within the range of estimates. (Reporting by Tarmo Virki and Anne Kauranen Editing by Andrew Heavens)

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