Continued strong growth in SSAB

Continued strong growth in SSAB

SSAB once again presents strong third quarter results. Sales amounted to SEK
13,686 (7,020) million, of which SEK 5,838 million is attributable to the
acquisition of the North American steel company, IPSCO. Profit before
depreciation (EBITDA) and non-recurring items amounted to SEK 2,956 (1,289)
million.

The single most important event during the quarter was that SSAB completed the
acquisition of IPSCO. During the quarter, a great deal of work has been expended
on bringing the two companies together, and IPSCO is now organizationally fully
integrated into SSAB. The acquisition of IPSCO lays the foundations for
continued strong growth for SSAB's niche products.

- “The first stage in the merger of SSAB and IPSCO has now been successfully
completed. The work on achieving synergies is underway and proceeding according
to plan. SSAB's and IPSCO's management teams have developed an extremely
positive cooperation which made possible a successful integration process,” says
SSAB's CEO, Olof Faxander.

  - “In terms of earnings, IPSCO is performing as we had anticipated, apart from
the fact that we have witnessed a certain weakening due to inventory liquidation
by North American pipe customers during 2007.”

As a consequence of the acquisition of IPSCO, the results before tax include
non-recurring items of SEK -1,271 million. These items relate primarily to the
allocation of the goodwill that has arisen in conjunction with the transaction. 


The original part of SSAB has shown a strong earnings trend with an increased
proportion of core niche products.

In August, SSAB carried out a new issue of SEK 10 billion as part of the
financing of the acquisition.  Interest was extremely strong among current and
new shareholders, both in Sweden and internationally. 




Head of Investor Relations
Stefan Lundewall
+46 (0)8 45 45 725
+46 (0)70 508 28 57

Communications Director
Helena Stålnert
+46 (0)8 45 45 734