Rautaruukki posts fourth quarter and year end results
Finnish steel producer Rautaruukki has recently posted its fourth quarter and year end results, which has been prepared according to the previous business model of the company. As previously reported by SteelOrbis, Rautaruukki changed its business model in September 2003. In the report, the company posted its turnover as €2.953 million, operating profit as €128 million and profit as €53 million. For the fourth quarter, Rautaruukki recorded operating profit of €42 million. Moreover, it is observed that company's deliveries of flat and tubular products in 2003 remained same against 2002, whereas deliveries of long products increased by 8%. In 2003, the company produced 2'798'000 tons of steel products.