SSAB reports strong third quarter
October 27, 2006 11:41 CEST 6 min read
SSAB today presented its results for the third quarter of 2006. Profit after financial items amounted to SEK 1,119 (933) million, an increase of SEK 186 million and the Group's best third quarter ever. During the first three quarters, profit thus amounted to SEK 4,453 (4,473) million. Cash flow for the first three quarters improved to SEK 2,843 (2,506) million.
- Sales increased by 9% to SEK 22,738 (20,798) million and we are experiencing continued strong demand for our core niche products, quenched steels and extra and ultra high-strength sheet, notes CEO Olof Faxander in a comment on the report.
- It is primarily within the heavy transport, mining industry and infrastructure-related industry sectors that demand continues to develop positively. So far this year, deliveries of the core niche products have increased by 22% and now account for 39% of the total volumes in the steel operations, continues Olof Faxander.
- The assessment is that during the fourth quarter steel prices in local currencies will be marginally higher than in the preceding quarter. The fourth quarter will be negatively affected by the accident at the oxygen plant in Oxelösund. The accident is expected to affect profit by approx. SEK 250 million, concludes Olof Faxander.