Ruukki posts loss in the first quarter of 2010

Thursday, 22 April 2010 12:10:31 (GMT+3)   -  
SteelOrbis News

On April 22, Finnish steelmaker Ruukki issued its financial results for the first quarter of 2010, stating that the cautious recovery of the global economy continued, but with large regional differences in economic development.

According to the financial results, the operating loss of the company was €36 million in the first quarter of 2010, compared with an operating loss of $113 million in the first quarter of 2009. Sales revenues in the first quarter of 2010 remained almost unchanged at €506 million, compared to €505 million in the same quarter of the previous year.

Meanwhile, the company declared a -€0.24 first quarter dividend. Order intake of the company during the first quarter was €507 million, about 20 percent higher year on year.

Ruukki estimates a 15-20 percent year-on-year growth in net sales in 2010. Profitability is expected to improve significantly compared to the previous year and the full-year result before income tax is expected to be positive.

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