At the meeting held at the Oxelösund plant, CEO Johnny Sjöström stated that SSAB will accelerate growth in the premium segment to strengthen profitability. With this strategy, the company aims to increase its EBITDA to around 23 billion SEK (EUR 2.08 billion) after 2030, representing a 9 billion SEK (EUR 815.2 million) improvement compared to the previous cycle. “Efficiency improvements at our existing facilities and new investments will reinforce SSAB’s long-term competitiveness,” Sjöström said.
The new strategy is built on three key pillars: Advanced steel grades, value-driven services and solutions, and fossil-free steel production. SSAB plans to increase shipments from SSAB Special Steels by an average of 5% per year until 2030, while SSAB Europe is expected to produce 1 million tons of fossil-free steel within five years. Subsidiaries Tibnor and Ruukki Construction will support this growth by providing service solutions that optimize customer value chains.
SSAB’s 4.5 billion-euro investment in the Luleå mini-mill project is designed to bring greater stability and profitability to its European operations, with an expected EBITDA contribution of 5 billion SEK (EUR 452.8 million). The conversion of the Raahe plant in Finland to an electric arc furnace will mark the final stage of the company’s transformation.
Comments
No comment yet.