Finland-based steelmaker Ruukki has issued its financial results for the second quarter of the current year, stating that demand for special steels is expected to clearly outperform demand for standard products, especially in market areas outside Europe. The most important growth areas for special steels are the Americas and several countries in Asia. In Europe, demand for special steels is expected to remain at the current level.
The company reported an operating profit of €14 million in the second quarter, 17.6 percent lower than the same quarter of the previous year. Operating profit was weakened particularly by poorer gross margins due to lower selling prices for standard steel products. Net sales revenues in the given quarter amounted to €617 million, decreasing by three percent year on year. The company's order intake decreased by 2.6 percent to €627 million in the given period, compared to the second quarter of 2013.
In the first half of the current year, Ruukki's operating profit declined by 9.5 percent year on year to €19 million, while net sales increased by two percent to €1.2 billion compared to the first half of 2013. In the given period, Ruukki's order intake was €1.18 billion, falling 3.9 percent year on year.
During the second quarter this year, Ruuki's steel production amounted to 584,000 mt, increasing by 9.1 percent, while the first half production was 1.2 million mt, up 8.2 percent, both year on year.