Swedish specialty steelmaker SSAB has unveiled its strategic plan to accelerate growth of its premium offering, with the focus on the most attractive customer segments, revealing ambitious targets to shift the company further up the value chain and expand profitability through premium-steel leadership.
Strategic targets and milestones
The plan foresees premium steels accounting for 65 percent of total shipments by around 2030, up from 55 percent today, and 75 percent by 2035. SSAB has also set a goal to achieve an over-cycle EBITDA of about SEK 23 billion after 2030, compared to approximately SEK 14 billion in the previous cycle.
SSAB’s new strategy revolves around three growth levers: upgrading its product mix toward higher-value advanced steels, strengthening value-added service solutions through its Ruukki and Tibnor networks, and expanding shipments of decarbonized steel. Within five years, the company expects SSAB Europe to deliver around one million mt of fossil-free steel to customers across key sectors.
Major capital investments underpin this strategy. A €4.5 billion mini-mill in Luleå, Sweden, will replace existing blast furnaces, significantly reducing emissions and production costs. SSAB will also convert its Raahe mill in Finland to electric arc furnace technology, aligning operations with the company’s climate goals and enhancing flexibility in raw material sourcing.
The transformation will also deliver structural efficiency gains, lower production costs and a more balanced product portfolio across the automotive, construction and heavy machinery sectors.
