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Outokumpu financial statements release 2024 – Full-year adjusted EBITDA EUR 177 million with historically low stainless steel deliveries

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HELSINKI, Feb. 13, 2025 /PRNewswire/ — 

Highlights in Q4 2024

Stainless steel deliveries were 422,000 tonnes (450,000 tonnes)*.Adjusted EBITDA amounted to EUR -3 million (EUR 72 million).EBITDA was EUR -12 million (EUR 15 million).ROCE amounted to -1.2% (-2.1%).Free cash flow was EUR 33 million (EUR 156 million incl. discontinued operations).Earnings per share was EUR -0.07 (EUR -0.56).On October 1, 2024, Kati ter Horst started as the new President and CEO of Outokumpu.On December 12, 2024, Outokumpu issued a negative profit warning as its fourth-quarter adjusted EBITDA was expected to be close to break-even or turn negative.

Highlights in 2024

Stainless steel deliveries were 1,793,000 tonnes (1,906,000 tonnes)*.Adjusted EBITDA amounted to EUR 177 million (EUR 517 million).EBITDA was EUR 162 million (EUR 416 million).ROCE amounted to -1.2% (-2.1%).Free cash flow was EUR -71 million (EUR 290 million incl. discontinued operations).Earnings per share was EUR -0.09 (EUR -0.26)The impact of the political strike in Finland in the first half of 2024 was approximately EUR -60 million.The dividend of EUR 110 million from the year 2023 was paid in the second quarter.The most recent share buyback program was completed on February 29, 2024, and Outokumpu repurchased 8,357,545 shares during 2024.Outokumpu Board of Directors proposes that a dividend of EUR 0.26 per share to be paid for the year 2024 in two installments.

*Figures in parentheses refer to the corresponding period for 2023, unless otherwise stated.

Key figuresEUR million, or as indicated

Q4/24

Q4/23

Q3/24

2024

2023

Sales

1,405

1,513

1,518

5,942

6,961

EBITDA

-12

15

81

162

416

Adjusted EBITDA 1)

-3

72

86

177

517

Operating profit (EBIT)

-65

-314

32

-51

-100

Adjusted EBIT 1)

-58

13

31

-43

274

Result before taxes

-74

-320

22

-89

-133

Net result for the period

-32

-242

20

-40

-111

Earnings per share, EUR

-0.07

-0.56

0.05

-0.09

-0.26

Return on capital employed, rolling 12 months (ROCE), % 2)

-1.2

-2.1

-7.1

-1.2

-2.1

Capital expenditure

83

86

37

216

170

Free cash flow3)

33

156

-113

-71

290

Stainless steel deliveries, 1000 tonnes

422

450

459

1,793

1,906

Net result for the period from all operations incl. discontinued operations

-32

-242

20

-40

-106

1) Adjusted EBITDA or EBIT = EBITDA or EBIT – Items affecting comparability.

2) The balance sheet component in 2022 includes the equity component of discontinued operations.

3) The 2023 reference periods include discontinued operations.

During 2022, Outokumpu announced that it had signed an agreement to divest the majority of the Long Products business operations to Marcegaglia Steel Group and Outokumpu reclassified its Long Products businesses to assets held for sale and discontinued operations. The divestment was completed on January 3, 2023, and the gain on sale of EUR 5 million was reported in discontinued operations. In this report, all the comparative numbers are reported as continued operations without the impact of the gain on sale, if not otherwise stated.

President & CEO Kati ter Horst

In the challenging year 2024, we generated EUR 177 million of adjusted EBITDA in a weak market with high import pressure. Stainless steel demand in Europe was historically low. We maintained our leadership, securing the top market position in Europe and second place in North America.

During the current weak stainless steel cycle, we will focus on the factors we can control to improve profitability and maintain a healthy financial condition. I am pleased to acknowledge that our EUR 350 million EBITDA run-rate improvement actions are progressing well, and we achieved a EUR 101 million enhancement in 2024. In addition, we have initiated decisive short-term cost-saving measures of EUR 50 million to be delivered during 2025 and continue to work on our long-term plans to improve our competitiveness. Further, we have cut our planned capital expenditure to EUR 160 million for the year 2025. 

Despite weak earnings in a challenging market environment, our financial position remained strong. Therefore, the Board of Directors is proposing a dividend of EUR 0.26 per share, to be paid in two installments. I am pleased that we can reward our shareholders for their commitment to Outokumpu.

We have actively managed our working capital, net debt and liquidity, and we will continue to do so. At year-end, our inventory levels were higher than usual as we prepared for the union strikes in Finland, which started at the end of January. These strikes are very unfortunate for the Finnish industry, including Outokumpu.

In the fourth quarter of 2024, Outokumpu’s adjusted EBITDA decreased to EUR -3 million and deliveries fell by 8% compared to the previous quarter.

In business area Europe, adjusted EBITDA decreased to EUR -32 million, and stainless steel deliveries fell by 9% compared to the previous quarter. This is a disappointing result for our biggest business area, and the adverse development was mainly driven by weaker-than-expected market conditions. Poor demand and increased imports have kept prices low. The European Union must be fast to react and protect its critical steel industry from unfair competition – current trade measures are not enough. For more favorable markets, interest rates should continue to decrease, as well as consumer confidence and industrial activity to pick up.

In business area Americas, adjusted EBITDA was EUR 9 million, and stainless steel deliveries decreased by 7% compared to the previous quarter. The manufacturing sector continues to be subdued, and a stimulus is expected to come from growth supported by increased domestic production and infrastructure investments.

Business area Ferrochrome’s adjusted EBITDA improved to EUR 33 million. Demand for our low emission, European ferrochrome has remained favorable, even in a challenging market environment. At the beginning of this year, we were able to increase our mineral reserves at the Kemi mine by 95% based on new underground drilling, proving that the ground in the mine area is rich in chrome ore. It is especially gratifying that we have secured the ore availability until the 2050s, and no further major investments are needed.

I am proud that we maintained our world-class safety performance of 1.5 TRIFR in 2024. Outokumpu is also making good progress with its smart decarbonization strategy. Our target is to decrease emission intensity by 42% by 2030 from the 2016 baseline. By the end of last year, we had reached a 32% reduction and maintained a high recycled material content of 95%. We have advanced with our actions to lower direct emissions in ferrochrome production by replacing fossil coke with biocoke and decided to invest EUR 40 million in a biocarbon plant in Germany.

Today, we announced some strategic decisions. In this market environment, Outokumpu is currently not proceeding with a cold rolling investment in the U.S. However, our long-term view on the U.S. market remains positive. In addition, we are no longer planning to move forward with the Small Modular Reactor (SMR) development in Tornio, Finland. Energy is not Outokumpu’s core business, but we are looking for a partner that is interested in investing in energy production next to our site.

I am excited to have Matthieu Jehl joining Outokumpu’s Leadership Team as the President of business line Stainless Europe. He is a strong leader and has extensive experience in related industries.

In the short term, we are implementing measures to handle this low point of the demand cycle and to secure the financial strength of Outokumpu. At the same time, we are working on the next strategy phase which we will publish in our next Capital Markets Day in June 2025. I want to thank our employees for their efforts and commitment, our customers for their business and trust, our suppliers for their co-operation, and our shareholders for their continuous support.

Outlook for Q1 2025

Group stainless steel deliveries in the first quarter are expected to increase by 10–20% compared to the fourth quarter (including the impact of a one week’s strike), while pressure on realized stainless steel prices is expected to continue during the first quarter.

Maintenance costs are forecasted to decrease by approximately EUR 10 million in the first quarter compared to the fourth quarter.

The one-week strike in Finland in January is expected to have an approximately EUR -15 million impact on adjusted EBITDA in the first quarter.

The risk of further strikes causes uncertainty for Outokumpu’s earnings development in the first quarter. The impact of each additional week of strike is expected to be approximately EUR -15 million on adjusted EBITDA.

With the current raw material prices, some raw material-related inventory and metal derivative losses are forecasted to be realized in the first quarter

Guidance for Q1 2025:

Adjusted EBITDA in the first quarter of 2025 is expected to be higher compared to the fourth quarter. This guidance includes the impact of the one-week strike.

Results

Q4 2024 compared to Q4 2023

Outokumpu’s sales in the fourth quarter of 2024 decreased to EUR 1,405 million (EUR 1,513 million). Total stainless steel deliveries were 6% lower compared to the previous year. The decrease was driven by an adverse development in business area Europe as stainless steel deliveries in business area Americas slightly increased.

Adjusted EBITDA in the fourth quarter of 2024 was EUR -3 million (EUR 72 million). On top of lower volumes, profitability was negatively impacted by both lower realized prices for stainless steel in Europe and Americas as well as negative raw material impacts. Costs increased in business areas Europe and Americas, and were impacted by under absorption of fixed costs due to lower production volumes. Profitability was, however, supported by the improved profitability of business area Ferrochrome. Raw material-related inventory and metal derivative gains were EUR 4 million (gains of EUR 0 million).

EBIT was EUR -65 million in the fourth quarter of 2024 (EUR -314 million). EBIT in the comparison period was impacted by items affecting comparability mainly related to impairments and German restructuring. ROCE for rolling 12 months was -1.2% (-2.1%). The comparison period was affected by the significant impairment booking related to the renegotiated hot rolling contract in business area Americas at the end of 2023.

Net result was EUR -32 million in the fourth quarter of 2024 (EUR -242 million) and earnings per share was EUR -0.07 (EUR -0.56). Net financial expenses in the fourth quarter of 2024 were EUR 10 million (EUR 6 million) and interest expenses EUR 16 million (EUR 14 million).

Q4 2024 compared to Q3 2024

Outokumpu’s sales decreased to EUR 1,405 million in the fourth quarter of 2024 (Q3/2024: EUR 1,518 million). Total stainless steel deliveries were 8% lower compared to the previous quarter as deliveries decreased in both business areas, Europe and Americas.

Adjusted EBITDA was EUR -3 million in the fourth quarter (Q3/2024: EUR 86 million). The decrease in profitability was mainly driven by weaker-than-expected market and adverse development in business area Europe. Realized prices for stainless steel decreased in Europe, while remaining relatively stable in Americas. Profitability was affected by negative raw material impacts and higher variable costs. Also fixed costs in business area Europe increased, mainly due to prolonged maintenance work in Tornio, Finland. Profitability was, however, supported by an improved result for business area Ferrochrome. Raw material-related inventory and metal derivative gains were EUR 4 million in the fourth quarter (Q3/2024: gains of EUR 10 million).

EBIT was EUR -65 million in the fourth quarter of 2024 (Q3/2024: EUR 32 million). ROCE for the rolling 12 months was -1.2% (Q3/2024: -7.1%). ROCE in the comparison period was affected mainly by the significant impairment booking related to the renegotiated hot rolling contract in business area Americas at the end of 2023 and German restructuring.

Net result in the fourth quarter was EUR -32 million (Q3/2024: EUR 20 million) and earnings per share was EUR -0.07 (Q3/2024: EUR 0.05). Net financial expenses were EUR 10 million (Q3/2024: EUR 11 million) and interest expenses EUR 16 million (Q3/2024: EUR 15 million).

2024 compared to 2023

During 2024, Outokumpu’s sales decreased to EUR 5,942 million (EUR 6,961 million). Total stainless steel deliveries were 6% lower compared to the previous year. Deliveries in business area Europe decreased significantly due to weaker market environment and the political strike in Finland. Deliveries increased in business area Americas but remained still at a low level.

Adjusted EBITDA was EUR 177 million in 2024 (EUR 517 million). Profitability was impacted by notably lower realized prices for stainless steel in both Europe and Americas and the unfavorable effects resulting from a tighter scrap market. Costs remained stable compared to the previous year as the positive impact from lower energy and consumable prices in business area Europe was offset by higher fixed costs and tolling fee in business area Americas. Profitability was, however, supported by an improved result for business area Ferrochrome.

The impact of the political strike on adjusted EBITDA was approximately EUR -60 million in the first half of the year. Due to the political strike, the majority of Outokumpu’s stainless steel and ferrochrome operations in Finland as well as the Port of Tornio in Finland were shut down for four weeks. The strike also indirectly impacted the company’s operations in other countries through the disruption to internal material flows in both, Europe and Americas.

Raw material-related inventory and metal derivative gains were EUR 3 million in 2024 (losses of EUR 44 million).

EBIT was EUR -51 million (EUR -100 million) in 2024. EBIT in the comparison period was impacted by items affecting comparability mainly related to impairments and German restructuring. ROCE for the rolling 12 months was -1.2% (-2.1%), mainly due to weaker profitability. ROCE in the previous year was affected by the significant impairment booking related to the renegotiated hot rolling contract in business area Americas at the end of 2023.

Net result was EUR -40 million (EUR -111 million) in 2024 and earnings per share was EUR -0.09 (EUR -0.26). Net financial expenses were EUR 41 million (EUR 37 million) and interest expenses EUR 64 million (EUR 60 million).

Adjusted EBITDA by segment EUR million

Q4/24

Q4/23

Q3/24

2024

2023

Europe

-32

4

59

58

148

Americas

9

54

5

59

285

Ferrochrome

33

23

29

106

96

Other operations and intra-group items

-13

-8

-8

-46

-12

Total adjusted EBITDA

-3

72

86

177

517

Items affecting comparability in EBITDA EUR million

Q4/24

Q4/23

Q3/24

2024

2023

Europe

-1

-46

-4

-3

-52

Americas

-8

-7

—

-8

-16

Ferrochrome

—

-3

—

—

-3

Other operations

0

-1

0

-4

-31

Total items affecting comparability in EBITDA

-8

-58

-5

-15

-102

Total EBITDA

-12

15

81

162

416

More information on items affecting comparability see Reconciliation of key figures to IFRS.

A live webcast and conference call today, February 13, at 3.00pm EET

A live webcast and conference call to analysts, investors and representatives of media will be arranged today at 3.00 pm EET at https://outokumpu.events.inderes.com/q4-2024 hosted by President and CEO Kati ter Horst and CFO Marc-Simon Schaar.

To ask questions, please participate in the conference call by registering at https://events.inderes.com/outokumpu/q4-2024/dial-in. After registration you will receive phone number and a conference ID to access the conference call. If you wish to ask a question, please dial *5 on your telephone keypad to enter the queue.

All the interim report materials, a link to the webcast and later its recording will be available at www.outokumpu.com/en/investors.

For more information:

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669
Media: Päivi Allenius, SVP – Communications and Brand, tel. +358 40 753 7374, or Outokumpu media desk, tel. +358 40 351 9840, e-mail media(at)outokumpu.com

Outokumpu Corporation

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/outokumpu-oyj/r/outokumpu-financial-statements-release-2024—full-year-adjusted-ebitda-eur-177-million-with-histori,c4105017

The following files are available for download:

https://mb.cision.com/Main/18751/4105017/3263262.pdf

Financial statements release 2024

 

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CHIME and ScaleHealth Announce Joint Venture to Expand Healthcare’s Innovation Ecosystem

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ScaleHealth, powered by CHIME, creates new pathways connecting healthcare leaders, innovators, technology partners, and investors to accelerate the future of digital health.

ANN ARBOR, Mich., Oct. 27, 2026 /PRNewswire/ — The College of Healthcare Information Management Executives (CHIME) today announced a strategic joint venture with ScaleHealth, Inc. to create ScaleHealth, powered by CHIME, LLC, a new innovation ecosystem designed to connect healthcare’s most pressing challenges with the innovators, leaders, organizations, and partners capable of solving them. By combining CHIME’s trusted digital health community with ScaleHealth’s expansive innovation ecosystem, the venture creates a unique environment where healthcare organizations, entrepreneurs, established technology companies, and investors can discover, connect, validate, and advance the ideas shaping the future of healthcare.

For 35 years, CHIME has evolved alongside the digital health leaders it serves. What began as a community centered on healthcare CIOs has grown into a global network of digital health leaders supported through education, events, research, policy initiatives, media platforms, executive collaboration, and professional communities. The creation of ScaleHealth, powered by CHIME represents the next chapter in that evolution, expanding CHIME’s ecosystem to include the innovators, entrepreneurs, and emerging technology companies helping define what comes next in healthcare.

As healthcare organizations face increasing pressure to improve outcomes, strengthen operations, address workforce challenges, improve cybersecurity, and realize the promise of emerging technologies including artificial intelligence, the need for stronger connections across the innovation ecosystem has never been greater. ScaleHealth, powered by CHIME was created to help build those connections.

“CHIME has spent 35 years bringing together the leaders responsible for solving healthcare’s most important technology and transformation challenges,” said Russ Branzell, President and CEO of CHIME. “As the pace of innovation continues to accelerate, we have an opportunity to expand that trusted community even further. ScaleHealth, powered by CHIME, extends our ecosystem to include entrepreneurs, innovators, investors, and emerging technology companies so that healthcare leaders can engage earlier, collaborate more effectively, and help shape the innovations that will define the future of healthcare.”

The opportunity emerged through CHIME’s growing innovation programming, particularly its Innovation Summit series, where healthcare leaders and technology companies increasingly expressed a desire to engage more directly with innovators and entrepreneurial organizations. At the same time, startups and growth-stage companies were seeking trusted pathways into healthcare and stronger connections to leaders who understand the industry’s real-world operational challenges.

“Healthcare has no shortage of innovation. The challenge is creating trusted pathways that connect innovators with the healthcare leaders who understand the industry’s most urgent problems,” said Taylor McPartland, CEO of ScaleHealth and leader of the new venture. “By combining ScaleHealth’s innovation ecosystem with CHIME’s trusted community of digital health leaders, we’re creating an environment where meaningful connections can lead to validation, partnership, and real-world impact. This is about bringing together everyone who has a role to play in the future of healthcare innovation and helping them move great ideas forward.”

Unlike traditional accelerators, startup showcases, or innovation marketplaces, ScaleHealth, powered by CHIME is designed as a trusted innovation ecosystem. Healthcare organizations bring forward meaningful challenges. Innovators and startups contribute cutting-edge ideas and technologies. Established technology organizations bring expertise, infrastructure, and scale. Investors provide capital and growth pathways. Together, these stakeholders create an environment where innovation can move from discovery and connection to validation, partnership, and measurable impact.

“Throughout its history, CHIME has grown by bringing the right people together around the challenges that matter most,” said Tressa Springmann, Senior Vice President and Chief Information and Digital Officer at LifeBridge Health and Chair of the CHIME Foundation Board of Directors. “Today, innovation is essential to every aspect of healthcare transformation. ScaleHealth, powered by CHIME extends that trusted community into a broader innovation ecosystem, creating new opportunities for healthcare leaders, entrepreneurs, technology partners, and investors to collaborate, learn from one another, and accelerate meaningful progress across healthcare.”

The venture reflects CHIME’s belief that the next era of digital health will be co-created by healthcare leaders, technology partners, entrepreneurs, investors, and innovators working together to solve the challenges that matter most. By creating a trusted environment for discovery, collaboration, validation, and advancement, ScaleHealth, powered by CHIME aims to become the connective layer between healthcare’s needs and the innovation being built to address them.

Read the full release here.

About CHIME
The College of Healthcare Information Management Executives (CHIME) is the leading professional organization for digital health executives and leaders. CHIME provides a trusted, collaborative environment where members and partners connect, share best practices, advance professional development, and advocate for the effective use of information and technology to improve health and care in the communities they serve. For more information, please visit chimecentral.org.

For media inquiries, please contact:

Contact

Calli Dretke
Executive Vice President & Chief Digital and Marketing Officer
CHIME                                                                                                           
734.412.6255
cdretke@dhinsights.org

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In HelloNation, Prenatal Imaging Expert Erika Lambright Explains Ultrasound Differences Between 2D, 3D, And 4D Imaging

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The article outlines how each type of pregnancy ultrasound supports fetal development and family understanding.

DENISON, Texas, Oct. 27, 2026 /PRNewswire/ — What is the difference between 2D, 3D, and 4D ultrasound imaging during pregnancy? HelloNation has published an article that clearly explains the differences between ultrasound and other prenatal imaging modalities and how each supports fetal development.

The HelloNation article explains that a 2d ultrasound is the most common form of prenatal imaging used during routine pregnancy ultrasound appointments. It produces flat, black-and-white images that allow medical providers to assess fetal development, monitor growth, and evaluate vital structures. The article notes that 2D ultrasound plays a central role in identifying potential concerns early and remains the foundation of prenatal diagnostic imaging.

According to the article, a 3d ultrasound builds on the same technology but creates a more detailed still image with depth. This form of prenatal imaging allows families to see clearer views of the baby’s face, hands, and feet. While 3d ultrasound can support certain medical evaluations, the article describes its primary value as helping parents better visualize fetal development in a more lifelike way.

The article further describes how a 4D ultrasound adds motion to the 3d ultrasound image. This allows families to view real-time video of the baby moving, stretching, or making facial expressions. The article explains that this type of pregnancy ultrasound creates a more engaging experience and helps strengthen the emotional connection, while still using the same safe, noninvasive prenatal imaging technology.

The HelloNation article emphasizes that understanding ultrasound differences helps families set clear expectations before imaging sessions. Each type of pregnancy ultrasound serves a distinct purpose. 2D ultrasound focuses on medical accuracy and fetal development monitoring, while 3D and 4D ultrasound provide enhanced visualization and connection. The article highlights that medical professionals typically rely on 2D ultrasound for diagnostic purposes, while 3D and 4D ultrasound are often optional.

The article also notes that several factors can affect the quality of prenatal imaging results. Baby position, gestational age, and fluid levels all play a role in how clearly images appear, especially during 3D and 4D ultrasound sessions. The article explains that providers often guide families on the best timing for ultrasound visits during pregnancy to improve image clarity and achieve better results.

Prenatal Imaging Experts emphasize through the article that learning about ultrasound differences can reduce uncertainty and help families feel more prepared. By understanding how each type of prenatal imaging contributes to monitoring fetal development, expectant parents can approach each pregnancy ultrasound appointment with clearer expectations.

The article concludes that while 2D ultrasound remains essential for medical care, the added perspectives of 3D and 4D ultrasound offer families a broader, more personal understanding of fetal development. Together, these forms of prenatal imaging provide both clinical insight and meaningful connection throughout pregnancy.

What Is the Difference Between 2D, 3D, and 4D Ultrasounds Explained Simply features insights from Erika Lambright, Prenatal Imaging Experts of Denison, Texas, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused digital publications and innovative “edvertising” approach, HelloNation delivers expert-driven, good-news content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities. HelloNation maintains partnerships with the U.S. Conference of Mayors and the United States First Responders Association.

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Grünenthal presents Phase III results for Qutenza® in post-surgical neuropathic pain at IASP 2026 World Congress on Pain

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Late-breaking data from the Phase III RISE trial further strengthen the well-established efficacy and safety profile of Qutenza®. Post-surgical neuropathic pain is a debilitating complication of surgery affecting millions of patients every year.1 

AACHEN, Germany, Oct. 27, 2026 /PRNewswire/ — Grünenthal, a global leader in pain management and research, today announced new data from the Phase III RISE trial (NCT04967664), evaluating Qutenza® versus control in people with post-surgical neuropathic pain. These data were shared today as late-breaking poster presentations at the 2026 International Association for the Study of Pain (IASP) World Congress on Pain in Bangkok, Thailand.

The trial (n=409) showed that Qutenza® achieved a statistically significantly greater reduction in average pain intensity (API) than the control treatment over weeks 2-12, meeting one of its pre-specified primary endpoints. When evaluating API at week 12 specifically, at the point when patients would typically return for retreatment, the numerical difference favoured Qutenza® but did not reach statistical significance. In the extension phase of the trial, in which up to 4 retreatments were allowed, Qutenza® achieved a statistically significantly greater reduction in API than the control treatment over weeks 2-42. Safety findings were consistent with previous Qutenza® trials and no new safety signals were observed. These data support the well-established efficacy and safety profile of Qutenza®.2,3

“Post-surgical neuropathic pain can be difficult to manage with current treatment options, and there is an urgent need for patient-centred, effective solutions. The RISE trial provides encouraging evidence that Qutenza® can deliver clinically meaningful and sustained pain reduction for up to 42 weeks, having shown a greater reduction in average pain intensity than the control,” said Prof. Patrice Forget, MD, PhD, FFPMRCA, Clinical Chair (full professor) in Anaesthesia, University of Aberdeen, and Honorary Consultant, NHS Grampian, Aberdeen, UK. “As IASP shines a global spotlight on neuropathic pain at this year’s congress, findings such as these are important to help improve outcomes for patients and reduce the burden of pain on families and healthcare systems.”

“Post-surgical neuropathic pain has been relatively understudied and continues to go under-recognised in clinical practice,” said Uli Brödl, Chief Scientific Officer, Grünenthal. “These results build on the robust body of evidence for Qutenza® and reinforce its potential to provide meaningful, long-lasting pain relief for people living with pain.”

Post-surgical neuropathic pain is a poorly recognised potential complication of surgery that can result in devastating outcomes. It affects millions of patients every year, with pain lasting for months or years post-procedure.1 It can also have a significant mental health impact, with patients reporting feeling extremely depressed or anxious, and having problems with daily activities.4

Qutenza® is already approved in Europe for the treatment of peripheral neuropathic pain in adults, either alone or in combination with other medicinal products for the treatment of pain.5 It is also approved in the US for the treatment of neuropathic pain associated with postherpetic neuralgia and for the treatment of neuropathic pain associated with diabetic peripheral neuropathy (DPN) of the feet in adults.6

About the RISE trial2,3
The RISE (AV-001) trial is a Phase III multi-centre, randomised, double-blind, parallel-group trial to confirm the efficacy and safety of Qutenza 179mg cutaneous patch versus a low-dose capsaicin control patch in people with moderate to severe post-surgical neuropathic pain.

It included eligible adults with a 24-hour average pain intensity (API) score of 4 or more, a pain duration of 6 to 60 months after index surgery and a DN4 (Douleur Neuropathique 4) Interview score of 3 or more.

Participants were randomly assigned to receive treatment with either a 60-minute Qutenza patch (8%) or a low-dose capsaicin control patch (0.04%).

The trial had two primary endpoints:

Change in 24-hour API from baseline to the average score of the entire period between Week 2 and Week 12.Change in 24-hour API from baseline to the average score at Week 12.

The primary sponsor of the trial is Averitas Pharma, Inc., Grünenthal’s U.S. subsidiary.

About post-surgical neuropathic pain
Post-surgical neuropathic pain (PSNP) is defined as chronic pain with neuropathic characteristics that develops or increases after surgery and persists beyond the normal healing process. It is thought to arise, at least in part, from nerve injury and pain sensitisation associated with surgery.7

The signs and symptoms of peri- and post-surgical pain can vary based on the person and the severity of the injury caused in surgery. Reported symptoms include pain caused by stimuli that are normally painless (allodynia), abnormally increased sensitivity to pain (hyperalgesia), tingling, numbness, phantom pain and scar pain.8,9,10 

About Qutenza®
In Europe, Qutenza® (capsaicin) is indicated for the treatment of peripheral neuropathic pain in adults, either alone or in combination with other medicinal products for the treatment of pain.5

Qutenza® (capsaicin) 8% topical system is approved in the US for the treatment of neuropathic pain associated with postherpetic neuralgia and for the treatment of neuropathic pain associated with diabetic peripheral neuropathy (DPN) of the feet in adults. Important US safety information is available at www.qutenza.com.6

Qutenza® is a topical TRPV1 agonist, designed to provide neuropathic pain relief for up to three months through defunctionalisation of nociceptors and nerve fibre regeneration.

About Grünenthal
Grünenthal is a global leader in pain management and related diseases. As a science-based, fully integrated pharmaceutical company, we have a long track record of bringing innovative treatments and state-of-the-art technologies to patients worldwide. Our purpose is to change lives for the better – and innovation is our passion. We focus all our activities and efforts on working towards our vision of a World Free of Pain.

Grünenthal is headquartered in Aachen, Germany, and has affiliates in 28 countries across Europe, Latin America, and the U.S. Our products are available in approx. 100 countries. In 2025, Grünenthal employed around 4,100 people and achieved revenues of €1.8 billion.

More information: www.grunenthal.com

Follow us on LinkedIn & Instagram

For further information, please contact:

Matt Crabb, Head of Global Communications (Interim) at Grünenthal

matt.crabb@grunenthal.com 

References

1 Gregory P & Settles K. Pract Pain Manag. 2013;13(9):1–6.
2 Wallace M et al. Efficacy of high-concentration capsaicin patch in post-surgical neuropathic pain (RISE). Presented at the International Association for the Study of Pain World Congress 2026.
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SOURCE Grünenthal Group

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