Regulatory press releases

SSAB posts record profit

February 14, 2005 11:50 CET 6 min read

SSAB today reported its results for 2004. Profit after financial items increased by SEK 3,441 million to SEK 4,784 (1,343) million and cash flow increased to SEK 1,992 (765) million. The profit includes the capital gain from the sale of SSAB HardTech in the amount of SEK 825 million. - Even excluding the capital gain, the profit for the fourth quarter and for 2004 as a whole represents SSAB’s best performance ever, notes CEO Anders Ullberg in a comment on the report. - We have, of course, been able to draw benefit from a strong steel market in which we have been able to gradually increase the prices for both sheet and plate products. We have thereby been able to more than offset the very steep increases in raw materials costs, says Anders Ullberg. - However, I wish first and foremost to emphasise the impact of the work we have undertaken to achieve continued growth within our special niches – the extra and ultra high-strength sheet products and quenched steels within the plate area. Deliveries of these core niche products were almost 30% higher than in 2003 and the increase has taken place on all markets and within most segments, continues Anders Ullberg. - In addition, through cost-cutting measures we have succeeded in lowering our processing costs in absolute terms, notwithstanding wage increases, a more complicated product mix and higher volumes. We have also improved our yield. These activities combined with the strong increase in sales of our core niche products, together account for just over SEK 750 million of the increase in profit, emphasises Anders Ullberg. - In light of the strong result and the fact that we are, in principle, debt-free following the sale of SSAB HardTech, the Board of Directors proposes that the dividend be increased to SEK 7.50 (6) per share and that the General Meeting adopts a resolution to carry out a redemption programme of approx. SEK 2,000 million, continues Anders Ullberg. In conclusion, Anders Ullberg notes that, based on the sheet and plate agreements that have been concluded thus far, prices in local currencies are expected to increase by approx. 10% during the first quarter, at the same time as a continued steep increase in raw materials prices is expected.

Jun 1

Other press releases

Ponsse to become first forest machine manufacturer to use SSAB fossil-free steel

SSAB and Ponsse Plc, one of the world’s largest manufacturers of cut-to-length forest machines, have joined forces in a partnership in which SSAB is to deliver fossil-free steel to Ponsse gradually beginning in 2026.

May 31

Customer story

Gsodam reduced timber trailer weight by 20% with Strenx® steel

Since switching to SSAB’s Strenx® 700MC E steel, Gsodam, an Austrian manufacturer of vehicles for timber transports, has reduced trailer weight by up to 20 percent. The result of building light and durable is timber trailers with increased load capacity.

May 30

Other news

Ruukki upgrades load-bearing sheet production line in Anderslöv, Sweden

Ruukki Construction, part of the SSAB Group, has upgraded its load-bearing sheet production line in Anderslöv, Sweden, and can now also supply its customers with stronger T130M load-bearing profiles in addition to the former T130 profiles. The investment of approximately SEK 4 million in the improvement of the production line strengthens Ruukki’s ability to supply strong and light micro-profiled roof structures for customers’ commercial and industrial buildings, especially in the Nordic countries.