Sharp rise in profit at SSAB
SSAB today reports its results for the first quarter of 2007. Profit after financial items increased by 38% to SEK 2,147 (1,558) million.
- I am proud to be able once again to present a strong quarter, in fact the best ever. Demand for our core niche products has remained strong. Deliveries of extra and ultra high-strength sheet increased during the quarter by 25% compared with last year and deliveries of quenched steels, which continue to be restricted by available production capacity, increased by 8%, says CEO Olof Faxander in a comment on the report.
- Demand for products from our subsidiaries, Tibnor and Plannja, has also been very strong, resulting in increases in deliveries of 11% and 29% respectively compared with last year, continues Olof Faxander.
For the remainder of 2007, the steel operations’ volumes of the core niche products, quenched steels as well as extra and ultra high-strength sheet, are expected to continue to increase. Additional quenched steel capacity will be brought into operation after the summer.
- Based on the agreements already entered into, it is believed that the steel operations' prices in local currencies during the second quarter will be somewhat higher than in the first quarter, concludes Olof Faxander.
At 14.00 today, Friday, we will be holding a telephone conference in Swedish with Olof Faxander, primarily for the media. Please call +46 8 566 363 30, approx. 5-10 minutes before the start of the conference.
At the webcast/telephone conference to be held at 16.30-17.30, primarily for analysts and investors, we will provide a more extensive presentation of the report and market trends for the first quarter of 2007. The presentation will be held in English. For telephone numbers and a link to the presentation, please visit our website, www.ssab.com