Results for 2014

The quarter

  · Sales of SEK 15,200 (9,387) million, of which SEK 5,290 million come from
Rautaruukki
  · Excluding items affecting comparability, operating profit/loss of SEK 118 (
-294) million
  · Excluding items affecting comparability, loss after financial items of SEK
-82 (-448) million
  · Earnings per share of SEK -2.39 (-0.82)
  · Items affecting comparability affected profit/loss after tax by SEK -1 322
million and earnings per share by
SEK -2.41
    · Operating cash flow of SEK 1,407 (575)
million
    · The acquisition analysis of Rautaruukki was completed during the fourth
quarter. Based on the final acquisition analysis, the operating profit for the
third quarter has been adjusted by SEK -27 million and amounted to SEK 229
million (see page 16)

Full year

  · Sales of SEK 47,752 (36,455) million, of which SEK 8,824 million come from
Rautaruukki
  · Excluding items affecting comparability, operating profit/loss of SEK 894 (
-1,204) million
  · Excluding items affecting comparability, profit/loss after financial items
of SEK 242 (-1,801) million
  · Earnings per share of SEK -3.33 (-3.29)
  · Items affecting comparability affected profit after tax by SEK -1,778
million and earnings per share by SEK -4.24
    · Operating cash flow of SEK 1,737 (1,956) million
    · A dividend is proposed of SEK 0 (0) per share

Comments by the CEO

The operating profit, excluding items affecting comparability, for the fourth
quarter of 2014 was SEK 118 million, an improvement of approximately SEK 400
million compared with the fourth quarter of 2013. The improvement was driven
primarily by lower costs in the European operations and higher prices in North
America. Compared with the third quarter, the underlying operating profit
declined by approximately SEK 200 million due to seasonally weaker demand
towards the end of the year as well as a maintenance outage in the US. The
operating cash flow during the fourth quarter was SEK 1.4 billion, driven
largely by a reduction in working capital.

Demand in North America experienced a seasonal slowdown towards the end of the
fourth quarter. The market was affected by high import volumes as well as
increased inventory levels at distributors. In Europe, demand was stable in
October and November but seasonally lower in December. Demand for our special
steels was stable during the fourth quarter, but with major geographic
variations; it was relatively strong in the US but remained challenging on a
number of emerging markets.

We expect that our American operations will continue to develop positively in
2015, driven by strong demand and high efficiency at our steel mills. However,
increased imports of plate into North America represent an uncertainty factor,
as does the fact that inventory levels at distributors at the start of 2015 are
somewhat high. In Europe, underlying demand in 2015 is expected to demonstrate a
slight upward trend, but there is great uncertainty regarding the recovery. The
prospects for Eastern Europe have deteriorated, and the impact this will have on
the rest of Europe remains unclear. Demand for special steels is expected to be
relatively stable during the year, and thus our growth will be generated through
continued development of new applications and new markets. The single most
important event for SSAB in 2014 was the combination with Rautaruukki. We are
now creating a more efficient and flexible steel company, while at the same time
strengthening our possibilities to continue to develop globally our leading
position within special steels. Although the markets improved in 2014 the
relatively weak recovery underscores the need for continued efficiency
improvements combined with a continued development of our customer offering. The
integration with Rautaruukki has started well and in line with our plans and we
will achieve the synergy targets we have set. The work on realizing synergies is
proceeding well and, during Q4, activities were carried out corresponding to an
annual improvement in earnings of SEK 300 million. The current assessment is
that our target of annual savings of SEK 1.4 billion can be implemented more
quickly and that the full annualized effect will be reflected from the second
half of 2016 onwards.

This information is such that SSAB must disclose in accordance with the
Securities Markets Act. The information was submitted for publication on
February 10, 2015 at 07.30 am.

Invitation to SSAB’s year-end report 2014 results briefing

SSAB invites you to a presentation of the year-end report at 09.30 a.m. CET on
Tuesday, February 10, 2015.

The year-end report 2014 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 8 519 990 31 (Sweden), +44 203 364 53 73 (UK),
+1 855 753 22 30 (USA).

Link to webcast: Go to webcast (http://edge.media-server.com/m/p/n86xy2b2)

For further information:

Andreas Koch, Director IR and Financial Communications, Tel. +46 70 509 77 61

Marie Elfstrand, Director Media Relations and PR, Tel. +46 8 45 45 734

Report SSAB 1412
ENG (http://../mbpublicbinaryproxy/Public/980/9721428/94649ac97c04443c.pdf)
SSAB is a Nordic and US-based steel company. SSAB offers value added products
and services developed in close cooperation with its customers to create a
stronger, lighter and more sustainable world. SSAB has employees in over 50
countries. SSAB has production facilities in Sweden, Finland and the US. SSAB is
listed on the NASDAQ OMX Nordic Exchange in Stockholm and has a secondary
listing on the NASDAQ OMX in Helsinki. www.ssab.com.