Swedish specialty steel producer SSAB has posted its financial results for the first half of the current year, reporting a net profit of SEK 1.98 billion ($222.5 million), compared to a net profit of SEK 1.38 billion in the corresponding period of 2017. The company's sales revenues amounted to SEK 36.65 billion ($4.11 billion) in the first six months this year, increasing by 11.5 percent year on year.
During the first half this year, SSAB's crude steel output increased by 2.7 percent to 4.14 million mt, while finished steel production rose by 1.7 percent to 3.85 million mt, both year on year. Its steel shipments in the given period went up by 3.6 percent year on year to 3.62 million mt compared to the first half of the previous year.
Martin Lindqvist, CEO of SSAB, stated that, despite the political turbulence surrounding trade barriers, they expect the outlook to remain good for the second half of this year. SSAB has strong market positions in its home markets and it is on track towards achieving its strategic growth targets for 2020, added Mr. Lindqvist.