The fourth quarter
· Revenue was
· EBITDA was
· Operating profit/loss was
· Earnings per share were
· The Board proposes that no dividend will be paid for 2020
Comments by the CEO
The year 2020 was affected by a weak market as a consequence of Covid-19, and SSAB's operating result fell to
All three steel divisions increased operating profit as a result of better capacity utilization and higher shipments. SSAB Special Steels' operating profit rose to
Health and safety are top priorities and our efforts delivered results in 2020. Lost time injury frequency (LTIF) decreased to 3.7 (4.2). Several measures were put in place to limit the spread of Covid-19 and production and maintenance could be carried out without any major disruptions. The greatest impact of Covid-19 on SSAB in 2020 was from weaker steel markets, therefore we decided to push back the timing of achieving our strategic targets from 2022 to 2023. We introduced several cost savings measurements to counteract the negative effects of weak demand and cut fixed costs by a total of more than
SSAB's primary goal is to be fossil free by 2045, and we continue work on being the first to market, in 2026, with fossil-free steel. The world unique HYBRIT pilot plant was inaugurated during 2020 and it was decided to bring forward the start of the demonstration plant by three years. SSAB's climate goals were approved by the Science Based Targets initiative during the fourth quarter.
During the fourth quarter of 2020, SSAB announced that it was in discussions with
Invitation to SSAB's year-end report 2020 briefing
SSAB invites you to a presentation of the year-end report 2020 at
The year-end report 2020 will be presented by SSAB's President and CEO
Time of briefing:
Teleconference numbers:
Sweden: +46 856 6426 51
United Kingdom: +44 3333 0008 04
United States: +1 6319 1314 22
Conference ID: 35843954#
Link to webcast: Go to webcast (https://edge.media-server.com/mmc/p/woi4sdoo)
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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