Stockholm, Sweden-based specialty steelmaker SSAB announced Friday its Q4 of fiscal year 2011 and full-year results. In Q4 sales were up 7 percent and also rose 12 percent on the full-year. SSAB announced an operating profit of 50 million Swedish kronor ($7.505 million)--well below the 204 million Swedish kronor ($30.6 million) initially forecasted.
While things look bleak on the European side of the operation, the North American sector was stable. The North American operation has produced steel at normal capacity utilization and the business area continues to deliver goodresults andhas been designated as the best supplier among steelproducers on the North American market. This shows clear signs of recovery on the North American front. The SSAB Americas division had the highest operating profits of any business area for both Q4 and the full-year--414 million Swedish kronor ($62.1 million) and 2,109 million Swedish kronor ($316.5 million), respectively.