The first quarter
· Sales were SEK 20,017 (17,388) million
· Operating profit before depreciation/amortization was SEK 2,755 (1,836) million
· Operating profit was SEK 1,674 (916) million
· Earnings per share were SEK 1.24 (0.65)
· Operating cash flow was SEK 1,139 (761) million
· Net debt/equity ratio was 16% (21%)
SSAB’s subsidiary Tibnor has now comleted the acquisition of the steel distribution business of the Danish company Sanistål A/S, Denmark’s second largest steel distributor. The acquisition was announced in November 2018 and was approved by the Danish competition authority in March 2019. The acquisition supports SSAB’s strategic target to strengthen its Nordic home market position. The steel distribution business acquired had sales of around SEK 1.9 billion in 2018.