Report for the first quarter of 2008

Report for the first quarter of 2008

The Quarter [Unless otherwise stated, the report relates to continuing
operations, i.e. excluding the tubular business,]*
•	Sales increased by 47% to SEK 12,910 (8,780) million, of which the North
America division accounted for SEK 3,357 (0) million
•	Profit after financial items amounted to SEK 2,372 (2,138) million, an
increase by 11%
•	Profit after tax amounted to SEK 1,701 (1,544) million, an increase by 10%,
entailing earnings per share of SEK 5.17 (5.35)
•	An agreement on the sale of IPSCO Tubular for USD 4,025 million was signed on
March 14; accordingly, the business is classified as discontin-ued operations
and is reported in this report separately from the continuing operations. 


CEO's comments
SSAB is able to report a strong first quarter for the results as well as the
cash flow. The increased iron ore prices have not fully impacted the results
during the quarter since we partially produced and delivered from our stocks.
The price increases during the first quarter have largely been able to offset
the increased iron ore costs incurred by the Group during this period. The scrap
metal prices increased and had an almost immediate impact on the costs for the
North America Division, which could not be fully off-set by price increases
during the quarter.
The largest event during the quarter was the sale of the tubular business within
IPSCO. We obtained what was, for SSAB, an advantageous price notwithstanding a
turbulent financial market. We have thereby secured increased financial
flexibility to continue to expand within our niches and expand on new markets.
The synergies identified at the time of the acquisition of IPSCO are maintained
in the steel operations. The sale is expected to be completed during the second
quarter and is conditional on governmental authority approval. Until then, the
tubular business is reported as a discontinued operation. 
The year has begun well. Based on what we see today, we anticipate continued
strong demand during the remainder of the year. The full impact of the heavy
price increases for coal will not be felt until the third quarter and our
ambition is to gradually dur-ing the year compensate for these price increases
as well as the price increases of iron ore and scrap metal. 

Olof Faxander, President and CEO 

For further information, please contact: 
Helena Stålnert, Executive Vice President, Communications 		Phone:+46 8 45 45
734  
Martin Lindqvist, CFO and Executive Vice President, Finance		Phone: +46 8 45 45
732

SSAB, a global niche producer of high strength steel with a leading market
position and productivity, develops solutions in order to increase the
competitiveness of its customers.