SSAB’s second-quarter revenue increased by 7% year-on-year to SEK 27.489 billion. EBITDA amounted to SEK 3.778 billion, while the EBITDA margin improved from 12% to 14%.
Cautious outlook for the European market
The company stated that the European market for standard steels remained cautious during the second quarter. Import volumes increased ahead of the implementation of new trade measures, while inventory levels at distributors remained relatively high.
Following increases in strip and heavy plate prices during the first quarter, strip prices declined somewhat in the second quarter.
Shipments increased
SSAB’s crude steel production reached 2.041 million tonnes in the second quarter, while steel shipments increased year-on-year to 1.760 million tonnes. The company said that the increase in production and shipments was mainly driven by improved demand.
Investments in fossil-free steel continue
SSAB announced that it continues to invest in the transition towards fossil-free steel production. Installation work for the new electric arc furnace (EAF) at its Oxelösund facility is ongoing, with production scheduled to begin in the second quarter of 2027.
The company has also decided to invest in a new quenching line in Oxelösund to increase capacity for advanced wear and protection steels. Meanwhile, the Luleå transformation project remains on schedule and within budget.
Seasonal slowdown in demand expected in the third quarter
SSAB expects shipments across all its steel divisions to decline in the third quarter due to seasonal factors. However, previously implemented price increases are expected to result in somewhat higher realized prices during the quarter.
The company expects shipments at SSAB Special Steels and SSAB Europe to decline by more than 10%, while shipments at SSAB Americas are projected to decrease by 5–10%.
SSAB’s total revenue for the first half of the year amounted to SEK 52.825 billion, while operating profit reached SEK 4.896 billion.
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