The second quarter
· Revenue was
· EBITDA was
· Operating profit/loss was
· Earnings per share were
Comments by the CEO
SSAB's operating result for the second quarter of 2020 was
SSAB Special Steels' operating profit was
The European steel market was characterized by low demand and SSAB Europe's shipments decreased to 695 (909) thousand tonnes. Lower volumes and the impacts of reduced production pushed earnings down to
SSAB Americas' operating result for the second quarter decreased to
Work on minimizing the effects and the risks of Covid-19 continued, with health and safety as our top priority. SSAB's operations ran as planned during the second quarter. We responded quickly to adjust the organization to lower demand and our actions reduced the fixed costs by
Lower production levels continue and the blast furnace idled in Raahe in mid-April is planned to remain idled during the most of the third quarter. Due to the uncertain market conditions, our planned maintenance outages were brought forward to July and August from the fourth quarter. The outlook is uncertain but there are some signals in several of our customer segments indicating that demand could start to improve towards the end of third quarter.
SSAB continues to focus on developing the special steels business, as well as being the first to market with fossil-free steel in 2026. Already during the third quarter 2020, HYBRIT's world unique pilot plant for fossil free steel will start operating in Luleå,
Invitation to SSAB's second quarter 2020 results briefing
SSAB invites you to a presentation of the quarterly report today at
Time of briefing:
Teleconference numbers:
Sweden: +46 856 6426 51
United Kingdom: +44 3333 0008 04
United States: +1 6319 1314 22
Conference ID: 17664251#
Link to webcast: Go to webcast (https://edge.media-server.com/mmc/p/mndwvzw7)
For further information, please contact:
Investor Relations: Per Hillström, Head of IR,
per.hillstrom@ssab.com, +46 70 2952 912
Media:
viktoria.karsberg@ssab.com, +46 8 4545 734
This information is inside information that
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
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https://news.cision.com/ssab/r/q2-2020--earnings-impacted-negatively-by-lower-demand--stable-performance-from-special-steels,c3157682
https://mb.cision.com/Main/980/3157682/1282058.pdf
https://mb.cision.com/Public/980/3157682/b3607fee4955a550.pdf
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