Best year ever for SSAB

Luleå The fourth quarter brought a profit boost for swedish steelmaker SSAB and a strong end of the best year ever for the company.

Turnover in the fourth quarter of 2021 was SEK 27.3 billion, compared with SEK 17 billion in the same quarter of 2020. Operating profit, including depreciation, was SEK 7 billion, compared with SEK 0.5 billion in the same period last year.

This means that the full year 2021 was the best ever for SSAB. Revenue was SEK 95.9 billion (SEK 65.4 billion in 2020). Operating profit was SEK 18.8 billion, compared to - 0.3 billion in 2020. A large part of the explanation is high steel prices, according to SSAB's CEO:

"The full year 2021 was the best in SSAB’s history with record results posted by all divisions. Most of this improvement was driven by high steel prices. Internal performance was good during the year, with high production stability and improved safety results. During the year, SSAB strengthened its position as the driving force in the green transition in the steel industry," writes CEO Martin Lindqvist in a commentary.

The Board proposes a dividend to shareholders of SEK 5.25 per share.