Finland-based steelmaker Ruukki has issued its financial results for the second quarter and the first half of the current year.
In April-June, the company posted an operating profit of €8 million, down 88.7 percent compared to the second quarter of the previous year. Net sales revenues in the second quarter increased one percent to €740 million, compared to the corresponding quarter of 2011.
In the first half of the year, the company registered an operating loss of €8 million compared to an operating profit of €96 million in the first six months of 2011. Net sales revenues in the given period amounted to €1.44 billion, up 2.5 percent year on year.
According to Ruukki's statement, order intake was €755 million in the second quarter, up 12 percent year on year. In January-June, order intake increased by seven percent year on year to €1.44 billion.
Ruukki Metals' steel output decreased by 6.6 percent year on year in the second quarter to 594,000 mt, while in the first half the steel output amounted to 1.19 million mt, down 6.8 percent year on year. The company stated that its capacity utilization rate was 84 percent in the second quarter and that production was adversely affected by two fires that broke out at the steel plant at Raahe Steel Works in Finland during the second quarter.
Ruukki has announced some changes in its guidance for 2012. Net sales are expected to increase by about 5 percent, while the operating profit is now estimated to remain at the same level as in 2011. It was expected to improve compared to 2011 according to earlier guidance.