SSAB Report for the first quarter of 2013

The quarter

  · Sales of SEK 8,833 (11,023) million
  · Operating profit/loss of SEK -136 (479) million
  · Profit/loss after financial items of SEK  -278 (329) million
    · Earnings per share of SEK -0.42 (0.87)
    · Operating cash flow of SEK 85 (1,887) million and cash flow from current
operations of SEK -111 (1,684) million
Comments by the CEO

The economic activity in North America and Asia strengthened somewhat while, as
expected, the trend in Europe was very weak. The first quarter was characterized
by a degree of restocking by customers, which had a positive impact on SSAB's
volumes within all business areas. Prices of SSAB’s products were marginally
lower during the quarter. Variable as well as fixed costs were lower during the
quarter. In North America, margins were negatively affected by the fact that
scrap metal prices remained at a relatively high level.

During the quarter, we completed all parts of the previously announced
efficiency program. This will gradually have an impact during the year, reaching
full effect in 2014. At the same time, a majority of the employees in the
Swedish operations have continued with reduced work hours and pay. One of the
blast furnaces in Oxelösund was idle also during the first quarter and
production otherwise has been adapted to demand. Cash flow continued to be
positive and work is continuing on increasing working capital
efficiency.

The second quarter will be characterized by continued weak growth in Europe,
although we do perceive a degree of recovery on the Nordic markets, a slow
recovery in the U.S and a continued solid demand in Latin America. The scheduled
maintenance outage at our operations in Montpelier, Iowa will reduce earnings by
approximately SEK 150 million. Our total volumes in the second quarter are
expected to be somewhat higher than in the first quarter.

Martin Lindqvist
President and CEO

Presentation of the quarterly report
SSAB invites to a presentation of the quarterly report today April 25, 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 April
25, 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.