SSAB Results for 2012

The quarter

  · Sales of SEK 8,354 (10,898) million
  · Operating profit/loss of SEK -665 (50) million
  · Loss after financial items of SEK -842 (-98) million
  · Earnings per share of SEK -0.70 (-0.23)
  · Operating cash flow of SEK 1,251 (1,671) million and cash flow from current
operations of SEK 1,049 (1,828) million

The full year

  · Sales of SEK 38,923 (44,640) million
  · Operating profit/loss of SEK -96 (2,512) million
  · Profit/loss after financial items of SEK -693 (1,998) million
  · Earnings per share of SEK 0.05 (4.82)
  · Operating cash flow of SEK 4,929 (2,821) million and cash flow from current
operations of SEK 3,925 (2,200) million
  · Niche products accounted for 38 (37)% of steel shipments
  · A dividend is proposed of SEK 1.00 (2.00) per share, equal to SEK 324 (648)
million
  · A reduced tax rate in Sweden impacted, as a one-time item, positively on
taxes with SEK 253 million
Comments by the CEO

The steel markets continued to perform negatively following the deterioration in
order inflow we witnessed at the beginning of the autumn. The weak trend
pertains particularly to the European market, but North American and Asian
customers also adopted a wait-and-see approach. Prices of standard products fell
during the quarter. Quenched steel prices continued to exhibit greater
stability.

Many of our customers had longer than normal production outages during December
and the beginning of January. At the same time at the customer level, the
inventory reduction process which began during the third quarter continued. This
also affected our order books for both standard steels and niche steels.
Shipments during the fourth quarter were 1% lower than in the third quarter and
13% lower than in the fourth quarter 2011.

Thanks to our continued work on improving inventory management and working
capital, we were able to deliver a strong cash flow of SEK 1.2 billion, despite
a weak earnings trend. Thus, our net debt/equity ratio was reduced even further,
to 54 per cent. At the beginning of 2012, the net debt/equity ratio was 60 per
cent.

There are currently signs of a revival in economic activity in North America and
Asia as compared with the fourth quarter of 2012. It is our assessment that
volumes will continue to increase somewhat within SSAB Americas and SSAB APAC
during the first quarter of 2013, as compared with the fourth quarter. The trend
in Europe still remains weak and difficult to assess.

Generally speaking, steel prices appear to have stabilized. We will also see
certain easing on the cost side as the lower raw material prices will have a
positive impact on earnings by approximately SEK 200 million during the first
quarter.

The efficiency program within SSAB EMEA is proceeding according to plan and we
will achieve the previously announced cost savings of approximately SEK 800
million on an annual basis as from 2014. The entire efficiency program is aimed
to improve our competitiveness and increasing flexibility, in order to better
address fluctuations in the market. In addition to the efficiency program, a
program involving a cut in work hours and pay has been introduced for both blue
-collar employees and white-collar staff in SSAB Sweden. The program runs from
December 2012 until the end of May 2013.

Our major investments are now complete and we can now supply a range of products
with unique breadth and quality when the market turns.

Martin Lindqvist
President and CEO

Presentation of the half-year report
SSAB invites to a presentation of the half-year report today February 8, 2013.
Venue and time of briefing: World Trade Center (WTC) Stockholm, Kungsbron 1,
Conference room Manhattan, 09:30 a.m. CET.
The press conference will be held in English and live webcasted on SSAB's
website www.ssab.com. Instructions on how to participate in the webcast will be
available on SSAB's website, including presentation material for downloading.
This information is such that SSAB must disclose in accordance with the
Securities Markets Act. The information was submitted for publication on
February 8, 2013 at 08.00 am.
For further information:
Helena Stålnert, Executive VP Communications Tel.+46 8 - 45 45 734
Catarina Ihre, Director, Investor Relations, Tel. +46 8 - 45 45 729
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.