SSAB’s sales up 21.4 percent in Q1

Friday, 21 April 2017 17:32:19 (GMT+3)   |   Istanbul
       

Swedish specialty steel producer SSAB has posted its financial results for the first quarter of the current year, reporting a net profit of SEK 502 million ($55.75 million), compared to a net loss of SEK 133 million in the same quarter of the previous year. The company's sales amounted to SEK 15.74 billion ($1.75 billion) in the given period, increasing by 21.4 percent year on year, due to higher prices, higher volumes and currency effects.
 
In the first quarter, SSAB's crude steel output remained stable at two million mt, while its finished steel output rose by four percent to 1.88 million mt, both year on year. The company’s steel shipments in the given period went up by four percent year on year to 1.74 million mt. 
 
SSAB stated that in North America demand for heavy plate both from end customers and distributors is anticipated to be good during the second quarter of this year. In Europe, demand is likewise expected to be good during the second quarter, with no major changes expected in either end customer or distributor stock levels. Overall, SSAB’s shipments are expected to be somewhat higher during the second quarter than during the first quarter. It is anticipated that prices realized by SSAB during the second quarter will increase compared to the previous quarter, though mitigated by increased raw material costs.

Tags: Europe SSAB 

Similar articles

Sweden’s SSAB and BE Group partner for fossil-free steel

26 May | Steel News

SSAB to supply fossil-free steel to Norway’s Norsk Stål

22 Sep | Steel News

SSAB posts net loss for H1, expects demand recovery in late Q3

22 Jul | Steel News

SSAB sees reduced net profit in 2019

28 Jan | Steel News

SSAB to idle blast furnace to lower its costs

24 Oct | Steel News

SSAB initiates talks on possible temporary lay-offs in Finland

03 Sep | Steel News

SSAB Europe halts blast furnace at Raahe site for maintenance

06 Feb | Steel News

SSAB posts higher net profit for 2018

29 Jan | Steel News

SSAB’s records increased net profit in Q1

20 Apr | Steel News

SSAB to seek exemption from US steel tariffs

09 Mar | Steel News