Swedish specialty steel producer SSAB has posted its financial results for 2024.
In 2024, the company reported a net profit of SEK 6.52 billion ($592.43 million), compared to a net profit of SEK 13.04 billion in 2023, while its sales revenues amounted to SEK 103.42 billion ($9.39 billion) in the given year, decreasing by 13.4 percent year on year. The company’s operating profit in the full year amounted to SEK 7.86 billion ($714.19 million), compared to an operating profit of SEK 16.46 billion in 2023.
In the given year, the company’s crude steel output moved down by 5.5 percent to 7.35 million mt, while its finished steel production stood at 6.65 million mt, down by 6.5 percent, both year on year. Also, its steel shipments in the given year decreased by five percent year on year to 6.13 million mt.
Regarding the outlook for the first quarter of 2025, the company expects demand to remain weak in Europe and North America, but with a seasonal improvement in shipments. In addition, the company’s total maintenance costs for the full year of 2025 are expected to amount to SEK 1.52 billion.
