Strong Close to 2006
February 07, 2007 12:53 CET 6 min read
SSAB today reports its results for the full year of 2006. Profit after financial items for the fourth quarter amounted to SEK 1,599 (1,198) million, an increase of SEK 401 million compared with last year. Profit for 2006 thus reached SEK 6,052 (5,671) million and the operating cash flow improved by SEK 741 million to SEK 3,546 (2,805) million. The Board proposes an increase in dividend to SEK 4.50 (3.50) per share.
- The year closed strongly with new record earnings, despite the fact that the explosion at the oxygen plant and the subsequent drop in production had a negative impact on profit during the quarter in the amount of SEK 250 million, emphasises CEO Olof Faxander in a comment on the report.
- Sales of our core niche products, quenched steels and extra and ultra high-strength sheet, continued to develop positively and increased by 12% and 43% respectively during the quarter. For the full year, there was an 24% increase in core niche products, which now account for 39% of our total deliveries, continues Olof Faxander.
- It is primarily the customer segments, heavy transport vehicles, mining industry and infrastructure-related industry that continue to be strong and are developing positively, says Olof Faxander.
- Thanks to the strong demand, during the fourth quarter we were able to increase the steel operations' prices in local currencies by 3%. We perceive continued possibilities for price increases and, for the first quarter of 2007, our assessment is that steel prices will be somewhat higher than during the fourth quarter, concludes Olof Faxander.