Swedish specialty steel producer SSAB has announced that the political strike in Finland against the government which started on March 11 has also affected its operations in the country and that it will impact its earnings for the first quarter.
Accordingly, the company estimates that its operating profit for the first quarter of this year will decrease by about SEK 350 million ($32.77 million). In addition, SSAB’s operating profit would drop by SEK 125 million ($11.68 million) each week should the strike continue into the second quarter.
The company also stated that it will try to mitigate the impact of the situation on customer shipments.
In 2023, SSAB’s operating profit amounted to SEK 2.40 billion.