The Swedish steel producer SSAB reported net sales of 22.96 billion SEK (2.09 billion EUR) in the third quarter, down from 24.37 billion SEK (2.22 billion EUR) in the same period last year. The SSAB Americas segment stood out with an operating profit of 853 million SEK (70.2 million EUR) and a 16 percent margin, while the Special Steels division maintained stability with a profit of 1.39 billion SEK (127 million EUR) and a 22 percent margin. In contrast, SSAB Europe reported a loss of 179 million SEK (16.3 million EUR), attributed to lower standard product prices and seasonal weakness.
Management stated that planned maintenance and production adjustments were carried out in Europe during the quarter, while heavy plate prices in North America showed a slight decline. The company expects scheduled maintenance shutdowns to continue in both Europe and the United States during the fourth quarter.
SSAB welcomed the European Commission’s new draft proposal on steel safeguard measures announced in October, stating that the initiative would “enhance the competitiveness of the European steel industry by protecting fair trade.” The Commission’s proposal will next be reviewed by the European Parliament and the Council.
The company also reported a record improvement in workplace safety performance. The lost time injury frequency (LTIF) rate dropped from 0.82 to 0.56, reaching the lowest level in the company’s history. Management emphasized that this progress in safety will strengthen long-term production stability and capacity utilization.
Comments
No comment yet.