Swedish specialty steel producer SSAB has posted its financial results for the second quarter and the first half of 2012.
In the second quarter of the current year, the company's net profit decreased to SEK 480 million ($70.55 million), down 44.1 percent compared to the same quarter of the previous year. The sales revenues of SSAB amounted to SEK 10.8 billion ($1.58 billion), down 8.1 percent year on year.
In the first half of 2012, SSAB registered a net profit of SEK 761 million ($111.86 million), compared to a net profit of SEK 1.25 billion in the first half of 2011. The company's net sales in the first half decreased 4.3 percent year on year to SEK 21.8 billion ($3.21 billion).
In the first six months of 2012, SSAB's crude steel output fell by seven percent, while finished steel production decreased by eight percent, both year on year. Its shipments in the given period fell by nine percent to 2.28 million mt compared to the first half of the previous year.