SSAB achieves best performance in Europe

SSAB increased revenue by 20 percent and EBITDA by 68 percent in the first half. Among operating segments, SSAB Europe achieved the best results.

In the first half of this year, SSAB's production results are on par with the same period last year. Steel supplies totaled 3.492 million tonnes, and were almost identical to the previous year. Steel production remained at the same level. But revenue increased from SEK 27.435 billion in the first half of last year to SEK 32.854 billion in the same period this year.

EBITDA increased from 2.250 billion kroons to 3.794 billion kroons. During this time, the SSAB Europe segment achieved the highest growth rate. According to SSAB, this is a result of strong demand (especially from the construction and automotive sectors), which was offset to some extent by higher imports, relatively high inventories and falling prices for hot rolled sheet.


In the third quarter, SSAB expects a slowdown in Europe as a result of seasonal weakness in demand and a contraction in production as a result of further disruptions to planned services. In the second quarter, the cost of services in Europe was 50 million kroons, and the third quarter is planned at 120 million kroons. Despite the traditional holiday, the company still expects strong demand from the automotive and construction industries.

During this time, growth is expected in the heavy transport and construction machinery sector. Seasonal renovations and upgrades are also driving up demand from the mining industry.