SSAB on the Stock Exchange

SSAB’s shares are listed on the Nasdaq OMX Stockholm, Large cap list. OMX Nordic Exchange issues call and put options on the shares.

The final transaction prices in 2010 were SEK 113 for SSAB’s class A share and SEK 99.15 for SSAB’s class B share, corresponding to a total market capitalization of SEK 35.4 billion. During the year, the price of SSAB’s class A share fell by 7 percent and the class B share by 11 percent. During the same period, Nasdaq OMX Stockholm increased by 23 percent. The highest transaction price for the class A share during the year was listed on April 7 and was SEK 136.10 and on January 14 for the class B share at SEK 122.50. The lowest transaction price, SEK 90.90 and SEK 79.10 respectively, were listed on November 23. During the year, SSAB’s shares were traded for almost SEK 87 billion. Trading in shares took place on all exchange days and averaged approximately SEK 343 million per day. The volume of traded A shares corresponded to 269 percent of the average number of outstanding shares. The volume of traded B hares corresponded to 154 percent of the average number of outstanding shares. SSAB’s shares accounted for 2.4 percent of trading on the Nasdaq OMX Stockholm Exchange. The SSAB-share is also traded on market places such as BOAT, Burgundy, Chi-X and Turqouise. Of the total volume of traded shares, 68 percent of the class A shares were traded on Nasdaq OMX Stockholm and 81 percent of the class B shares.

Dividends

Dividends shall be adjusted to the average profit level over a business cycle and, in the long term, constitute approximately 50 percent of profit after tax. It should also be possible to use dividends to adjust the capital structure. For the 2010 financial year, a dividend to the shareholders is proposed of SEK 2.00 per share. For the 2009 financial year, the dividend amounted to SEK 1.00 per share.

Share capital

At the end of the year there were 323,934,775 shares, divided into 240,765,832 class A shares and 83,168,943 class B shares, which was unchanged since December 31, 2009. Each class A share carries one vote and each class B share carries one-tenth of one vote. The quotient value per share is SEK 8.80. At the end of 2010, SSAB’s three largest owner groups in terms of capital were Industrivärden, Swebank Robur Funds and LKAB. It should be noted that the holdings of foreign owners in SSAB are nominee-registered. At the end of 2010, SSAB had 68,407 shareholders, a decrease of approximately 1,000 during the year. The ten largest identified owners together owned 43.4 percent of the share capital and 49.3 percent of the voting capital. Foreign-registered ownership in SSAB increased slightly during the year and, at the end of December, represented approximately 23 percent of the share capital.

Investor relations

During 2010, a large number of meetings were held with representatives of financial institutions. Meetings were held in, among other places, Stockholm, London, New York, Boston, and Paris. A capital markets day was held in Stockholm in February and, in connection therewith, a tour was arranged of the plant in Oxelösund. Larger meetings for investors with a CSR focus have been arranged twice during the year. Presentations have been arranged regularly in connection with the publication of interim reports and results.

Ticker

NASDAQ OMX Stockholm AB: class A SSAB A (SSE300)

NASDAQ OMX Stockholm AB: class B SSAB B (SSE301)

Number of shares traded

Share breakdown
Shareholding	Number	% of all shareholders
1–500	36,475	53.3
501–1,000	12,012	17.6
1,001–5,000	17,608	25.7
5,001–10,000	1,168	1.7
10,001–15,000	328	0.5
15,001–20,000	195	0.3
20,001–	621	0.9
Total	68,407	100.0

Owners as of December 31, 2010
% of share capital		% of votes
Industrivärden	17.3	22.5
Swedbank Robur Funds	8.8	7.9
LKAB	3.8	5.0
AMF – Försäkring och Fonder	2.6	3.0
Alecta pensionsförsäkring	2.6	3.0
Nordea Investment Funds – Sweden	2.5	2.4
Folksam – KPA – Förenade Liv	1.7	1.9
First National Pension Fund	1.6	1.7
Skandia Liv	1.3	0.5
Handelsbanken incl. pension fund	1.2	1.4
Second National Pension Fund	1.2	1.4
Foreign-registered shareholders	22.8	24.1
Other shareholders	32.6	25.2
Total	100.0	100.0

The number of shares and the share capital have changed since 1989 as follows:
Year		Change in number of shares	Number of share	Change in share capital SEK millions	Share capital SEK millions
1989	Conversion	1,500,000	26,500,000	150	2,650
1994	Conversion	5,500,000	32,000,000	550	3,200
1995	4:1 split	96,000,000	128,000,000	0	3,200
1998	Redemption	-15,891,199	112,108,801	-397	2,803
2001	Reduction	-11,210,880	100,897,921	-281	2,522
2005	Redemption	-9,968,861	90,929,060	-249	2,273
2006	Redemption	-4,546,453	86,382,607	-114	2,159
2006	Bonus issue	0	86,382,607	121	2,280
2006	3:1 split	172,765,214	259,147,821	0	2,280
2007	1:4 new issue	64,786,954	323,934,775	571	2,851

Data per share
	2010	2009	2008	2007	2006
Exchange price December 31, class A share, SEK	113.00	122.10	68.00	176.00	148.69
Profit, SEK 1)	1.70	-3.09	21.41	15.36	14.66
Cash flow, SEK 1)	-7.59	7.64	91.20	neg	14.29
Equity, SEK 1)	92.26	95.21	108.64	89.19	59.18
Dividend, SEK	2.00 2)	1.00	4.00	5.00	4.50
Average number of shares, million	323.9	323.9	323.9	296.9	265.5
Number of shares at year-end, million	323.9	323.9	323.9	323.9	259.1
Number of shares at year-end adjusted for split, million	323.9	323.9	323.9	323.9	259.1
Market capitalization, SEK million, December 31	35,452	38,671	21,653	55,599	41,579
Valuation
Direct yield, %	1.8	0.8	5.9	2.8	3.0
P/E ratio	66.5	neg	3.2	11.5	10.1
Price/equity, %	122	128	63	197	251