SSAB Results for 2013

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| Source: SSAB AB
The quarter

  · Sales of SEK 8,920 (8,354) million
  · Operating loss of SEK -282 (-665) million
  · Loss after financial items of SEK -436 (-842) million
  · Earnings per share of SEK -0.82 (-0.70)
  · Operating cash flow of SEK 575 (1,251) million and cash flow from current
operations of SEK 217 (1,049) million

The full year

  · Sales of SEK 35,022 (38,923) million
  · Operating loss of SEK -1,131 (-96) million
  · Loss after financial items of SEK -1,728 (-693) million
  · Earnings per share of SEK -3.29 (0.05)
  · Operating cash flow of SEK 1,956 (4,929) million and cash flow from current
operations of SEK 1,103 (3,925) million
  · Net debt decreased to SEK 14,833 (15,498) million and net debt/equity ratio
amounted to 55 (54) %
  · A dividend is proposed of SEK 0.00 (1.00) per share, equal to SEK 0 (324)
million

The CEO’s comments

The operating loss for the fourth quarter of 2013 was SEK -282 million, an
improvement of SEK 316 million compared with the third quarter of 2013 and SEK
383 million compared with the fourth quarter of 2012. The improvement compared
with the same quarter of last year is primarily attributable to higher volumes,
improved capacity utilization and lower variable costs. At the same time, the
result was negatively affected by lower prices. The operating cash flow remained
strong at SEK 575 million in the fourth quarter and SEK 1,956 million for the
full year of 2013. During 2013, net debt was reduced by almost SEK 700 million.

During 2014, we anticipate that the North American market will continue to
improve and that SSAB will benefit from higher prices and stronger demand. In
the US, during the fourth quarter and January we announced price increases for
plate totaling USD 130 per tonne (more than 15%). The price increases will
gradually have an impact during the first and second quarter 2014. However,
during the fourth quarter market prices of scrap increased with approximately
USD 70 per tonne. At the end of the first quarter and beginning of the second
quarter, a maintenance outage will be carried out in Mobile which will affect
shipments and earnings negatively. The European market was weak in 2013, but
there are indications that the market has bottomed out. In Asia, especially in
China, general demand for steel is expected to grow in 2014, but at a slower
pace.

2013 has been a very challenging year for SSAB and for the steel industry as a
whole, characterized by weak demand and low prices. For SSAB specifically, the
strong krona affected earnings negatively, with approximately SEK 500 million
compared to 2012 Also, some of our most important segments, like Mining and
Construction Machinery, had an even weaker development than the general market.
One positive consequence of testing times is that it creates scope for new
solutions. It is, therefore, pleasing that at the end of January 2014 we were
able to announce our ambition to combine with Rautaruukki, with the aim of
creating a more competitive steel company. Together, we will have a flexible and
efficient production system in the Nordic region, while at the same time having
even better possibilities to serve our customers. In addition, we obtain
stronger opportunities continuing to develop our leading global positions within
high strength steels.

Martin Lindqvist
President & CEO

Invitation to SSAB’s 2013 year-end report

SSAB invites you to a presentation of the 2013 year-end report at 09.30 a.m. CET
on Friday, February 7, 2014.
The 2013 year-end report will be presented by SSAB’s President and CEO Martin
Lindqvist and CFO Håkan Folin. The press conference will be held in English and
live webcasted on SSAB’s website www.ssab.com. It is also possible to
participate in the briefing via telephone.

Venue and time of briefing: World Trade Center (WTC) Stockholm, Kungsbron 1,
Conference room Manhattan, 09:30 a.m. CET.
Telephone numbers: +46 8 505 564 74 (Sweden), +44 203 364 53 74 (UK), +1 855 753
22 30 (USA).
Link to webcast: Go to webcast (http://www.media-server.com/m/p/ez3umwhd)

Instructions on how to participate in the webcast will be available on SSAB’s
website, including presentation material for downloading.

Should you have questions regarding the webcast, please contact Marie Elfstrand,
Director External Communications, phone +46 8 45 45 756.

This information is such that SSAB must disclose in accordance with the
Securities Markets Act. The information was submitted for publication on
February 7, 2014 at 07.30 am.
For further information, please contact

Andreas Koch, Director, Investor Relations, +46 70 509 77 61
SSAB is a global leader in value added, high strength steel. SSAB offers
products developed in close cooperation with its customers to create a stronger,
lighter and more sustainable world.SSAB has employees in over 45 countries and
operates production facilities in Sweden and the US. SSAB is listed on the
NASDAQ OMX Nordic Exchange, Stockholm. www.ssab.com