Finland-based steelmaker Ruukki has issued its financial results for the first quarter of 2013, reporting an operating profit of €5 million, compared to an operating loss of €15 million in the corresponding quarter of 2012. Net sales revenues in the given quarter amounted to €590 million, decreasing by 15.6 percent year on year.
According to Ruukki's statement, order intake decreased by seven percent to €590 million in the given period, compared to the first quarter of the previous year. Order intake construction business was up four percent and for the steel business was down 10 percent, both year on year. Ruukki saw a 15 percent quarterly growth in order intake for special steel products.
Ruukki Metals' steel output increased by six percent year on year in the first quarter to 565,000 mt. The capacity utilization rate was around 80 percent in the first quarter this year. Ruukki stated that works continued to boost the recycling rate of materials in steel production and on projects to increase operating efficiency.
Additionally, Ruukki announced that it will accelerate its step change into a company specializing in steel construction and special steels and is to reorganize its structure. In addition to the efficiency programs initiated last year to improve cost competitiveness and potential for profitable growth, focus within the company's largest business area, Ruukki Metals, is shifting increasingly more clearly to special steels. The other business area, Ruukki Construction, will be divided into two new business areas, Ruukki Building Products and Ruukki Building Systems. The aim of this is to improve profitability and growth, as well as to improve manageability, transformation pace and transparency.