Swedish specialty steel producer SSAB has posted its financial results for the fourth quarter and the full year 2012.
In the fourth quarter of 2012, the company reported a net loss of SEK 227 million ($35.4 million), including a positive effect of SEK 253 million ($39.5 million) due to a reduced corporate tax rate in Sweden. The sales revenues of SSAB amounted to SEK 8.35 billion ($1.3 billion), down 23.4 percent year on year.
In the full year 2012, SSAB's net profit amounted to SEK 15 million ($2.34 million), compared to a net profit of SEK 1.5 billion in 2011. The company's net sales in the given period decreased 12.8 percent year on year to SEK 38.9 billion ($6.07 billion).
In 2012, SSAB's crude steel output fell by seven percent, while finished steel production decreased by nine percent, both year on year. Its shipments in the given period fell by 10 percent to 4.2 million mt compared to the previous year.