SSAB AB

Latest Results (07.10.2025):

SSAB AB reported its financial results for the second quarter of 2025, showing an operating result of SEK 2,140 million. While this reflects a decrease compared to the previous year due to lower standard steel prices, there was a notable improvement from the previous quarter driven by increased prices in SSAB Americas. The company is addressing a weakening European market and continues to advance its strategic transformation projects.

Operating Results

In Q2 2025, SSAB AB achieved an operating result of SEK 2,140 million, down from SEK 2,969 million the previous year. This decline was primarily due to lower prices for standard steel. However, compared to the first quarter of 2025, the operating result improved, largely thanks to higher prices in the Americas region.

Regional Performance

SSAB Special Steels reported a stable operating margin of 22%, with an operating result of SEK 1,480 million. SSAB Americas improved its performance with an operating result of SEK 807 million and a 14% margin, despite a year-over-year decrease. Conversely, SSAB Europe faced challenges, with its operating result dropping to SEK 110 million and the margin falling to 1%, influenced by a weakening market.

Market Conditions and Strategic Adjustments

The second quarter was marked by increased uncertainty due to tariffs and trade barriers, particularly impacting the European steel market. In response, SSAB AB plans to adjust production and staffing levels in Europe during the typically slow third quarter through measures like planned maintenance and short-time work. Additionally, the company maintains a limited direct impact from US steel tariffs due to localized production.

Transformation Projects

SSAB AB continues its transformation projects in Luleå and Oxelösund aimed at reducing costs, improving the product mix, and minimizing CO2 emissions. However, the start-up of the new steel mill in Luleå has been delayed by 12 months to the end of 2029 due to grid transmission issues. Despite this delay, the investment remains robust at EUR 2.7 billion, supported by multiple financial backers.

Strategic Partnerships

SSAB AB has entered into an agreement with Volvo Cars to supply SSAB Zero steel starting in 2025 and to purchase high-quality scrap steel from Volvo's production. This scrap will be recycled in SSAB's new electric arc furnace in Oxelösund, enabling the production of steel without fossil carbon dioxide emissions.