Announcement • Apr 23
SSAB AB (publ) Receives EUR 20 Million Funding from Business Finland for Sustainable World Through Steels Research and Development Program SSAB AB (publ) has been selected as one of Business Finland's new leading companies in the challenge competition launched in spring 2025. Business Finland, a Finnish public innovation funding organization, has granted SSAB EUR 20 million in funding for a new Sustainable World through Steels research and development program, aimed at the transition to fossil-free steel production and the development of low-carbon products in collaboration with customers. With funding from Business Finland, SSAB will initiate a five-year research and development program titled Sustainable World through Steels. Business Finland announced the new leading companies. The objective of SSAB's program is to create an ecosystem comprising more than 200 partners, including research institutes and universities, digitalization partners, other steel producers, technology developers, and customer companies. In addition to the funding received by SSAB, several project packages related to the lead project ecosystem are currently in preparation. Overall, the estimated total cost of SSAB's lead project is EUR 50 million. SSAB will further strengthen the research ecosystem by significantly expanding international research and collaboration through EU funding. The ecosystem is expected to generate new business and increase export industry activity. The themes of the new program are: 1) Solutions for fossil-free electric steelmaking 2) Optimization and development of a sustainable fossil-free supply chain through digitalization 3) Low-emission steel applications and value chains at large scale 4) Circular utilization of steel mill side streams and materials. Through its challenge competitions, Business Finland seeks to fund research and development projects by companies operating globally or aiming for global operations, where the companies address major future challenges and make a significant contribution to Finland's competitiveness. Leading companies are required to substantially increase their R&D activities in Finland and to build ecosystems aimed at creating new business. In addition to funding the leading company's own projects, Business Finland also finances R&D projects carried out by partners within the ecosystem. Announcement • Mar 17
SSAB AB (publ) Announces Directors Not Standing for Re-Election SSAB AB (publ) announced that Bernard Fontana and Mikael Mäkinen have declined re-election at its Annual General Meeting to be held on April 28, 2026. Announcement • Jan 28
SSAB AB (publ) Proposes Dividend for the Financial Year 2025 SSAB AB (publ) announced that the Board proposed a dividend of SEK 2.00 per share for the financial year 2025 against SEK 2.60 per share paid last year. Announcement • Oct 10
SSAB AB (publ), Annual General Meeting, Apr 28, 2026 SSAB AB (publ), Annual General Meeting, Apr 28, 2026. Announcement • May 02
SSAB AB (publ) Approves Dividend, Payable on May 7, 2025 SSAB AB (publ) at its AGM held on April 29, 2025 resolved on a dividend of SEK 2.60 per share, with May 2, 2025 as the record date. The dividend is expected to be distributed by Euroclear Sweden AB on May 7, 2025. Announcement • Mar 18
SSAB Announces Management Changes, Effective April 1, 2025 SSAB is making changes in the support functions of its Group Executive Committee. Carl Orrling has been appointed as a new member of SSAB's Group Executive Committee. Carl Orrling has been appointed EVP CTO with responsibility for the Transformation Office and will become a new member of SSAB's Group Executive Committee. The Group Executive Committee will be reduced from 11 to 9 members. Christina Friborg (SVP Sustainability, Ethics & Compliance, Health & Safety), Eva Petursson (SVP Research & Innovation), and Lars Sjöbring (SVP General Counsel) will retain their responsibilities and continue to report to Johnny Sjöström but will no longer be members of the Group Executive Committee. Martin Pei, the former EVP CTO, will become a Senior Advisor with a focus on securing raw material supplies for the new fossil-free steel plants. He will continue to represent SSAB as Chairman of the Board of Hybrit Development AB and will still report to Johnny Sjöström. These changes will take effect on April 1, 2025. The new Group Executive Committee will consist of: Johnny Sjöström - President and CEO of SSAB, Leena Craelius - EVP Chief Financial Officer, Per Elfgren - EVP Head of SSAB Special Steels, Tony Harris - EVP Head of SSAB Europe, Chuck Schmitt - EVP Head of SSAB Americas, Maria Långberg - EVP Organization and Culture, Helena Norrman - EVP Communications, Carl Orrling - EVP CTO and Head of the Transformation Office and Viktor Strömberg - EVP Strategy and Digitalization. Announcement • Feb 04
Jennmar Corporation completed the acquisition of Rock bolt manufacturing unit in Virsbo from SSAB AB (publ) (OM:SSAB A). Jennmar Corporation has entered into an agreement to acquire Rock bolt manufacturing unit in Virsbo from SSAB AB (publ) (OM:SSAB A) on January 7, 2025. As a part of acquisition, in total, 66 people are affected by the acquisition and have received an offer to continue their employment with Jennmar. The transaction is expected to be finalized in the first quarter of 2025.
Jennmar Corporation completed the acquisition of Rock bolt manufacturing unit in Virsbo from SSAB AB (publ) (OM:SSAB A) on February 3, 2025. Announcement • Jan 22
SSAB Appoints Helena Norrman as EVP & Head of Group Communications, Effective April 16, 2025 SSAB has appointed Helena Norrman as EVP & Head of Group Communications, a newly-created role in the company's Group Executive Committee. Helena will take up the position by April 16, 2025 and will be responsible for communication at SSAB.Helena Norrman joins SSAB from her role as partner and communications advisor at global communications consultancy Kekst CNC. Prior to this, she held several leading positions at global telecom company Ericsson, where for example, she headed Marketing and Corporate Relations and was a member of the company's Executive Team. In her role as EVP & Head of Group Communications, Helena will be a member of SSAB's Group Executive Committee and play an important role in the company's continued development. Helena Norrman holds a degree in International Business Administration from the University of Linköping in Sweden. Announcement • Dec 20
SSAB Appoints Tony Harris as New Head of SSAB Europe, Effective February 1, 2025 SSAB announced Tony Harris has been appointed as new head of SSAB Europe effective February 1, 2025. He transitions into this role from his current position as Head of Sales and Business Development at SSAB Europe. He has a strong commercial background from both small and medium-sized enterprises and multinational corporations. His expertise covers not only sales and business development but also operations and general management. Since joining SSAB in 2014, following the merger with Rautaruukki, Tony has served as a key member of SSAB Europe's Management Team. Upon assuming his new role, he will also join SSAB's Group Executive Committee. Tony will succeed Olavi Huhtala, who earlier has announced his retirement. Announcement • Dec 05
SSAB Receives Financing from EU and Swedish Agency for Economic and Regional Growth SSAB is granted SEK 1.45 billion in the framework of the Just Transition Fund, an EU fund that in Sweden includes support to the transition of the steel industry in Norrbotten. The funding will contribute to the transformation to fossil-free steel production of SSAB's operations in Luleå, a technology shift that will significantly reduce Sweden's carbon dioxide emissions. SSAB plans to decommission the current coal and blast furnace-based production system in Luleå in favor of a state-of-the-art fossil-free mini-mill with electric arc furnaces and rolling complexes. This will reduce Sweden's CO2 emissions by 7% in addition to the 3% from the conversion of SSAB's steel plant in Oxelösund. Startup of the new mill in Luleå is planned at the end of 2028 with full capacity in 2029, while startup of the new electric arc furnace in Oxelösund is expected toward the end of 2026. The investments are mainly funded with SSAB's own cash flow. The Just Transition Fund is an EU fund that focuses on industries and regions with high carbon dioxide emissions. The fund will help reduce emissions and tackle the challenges created by the transition. In Sweden's national program for the Just Transition Fund, the eligible sectors are the steel, metal and cement industries. The steel industry in Norrbotten was pinpointed as one of three industries that could be awarded the funds. On October 21, 2024, the European Commission announced that it had approved a Swedish measure to support SSAB through the Just Transition Fund. On December 4, 2024, the Swedish Agency for Economic and Regional Growth, which administers the fund in Sweden, announced that SSAB is granted SEK 1.45 billion in EU funding and national co-financing. SSAB has previously been granted nearly SEK 38.6 million from the same fund for SSAB Academy, a pilot program for employee competence development in Luleå. Announcement • Dec 03
SSAB AB Announces Retirement of Chuck Schmitt, Head of SSAB Americas SSAB AB announced that Chuck Schmitt, Head of SSAB Americas, will retire in the summer of 2025. A recruitment process to find his successor will begin shortly. Chuck Schmitt has been Head of SSAB Americas and a member of SSAB's Group Executive Committee since 2011. He has been with the company since 1990, starting at the U.S.-based IPSCO which was later acquired by SSAB. Chuck Schmitt will remain in his current position until June 30, 2025. A recruitment process to find his successor will begin shortly. Announcement • Oct 28
Martin Lindqvist to Step Down from SSAB's Board of Directors As previously communicated, Martin Lindqvist has left his position as SSAB's President and CEO. On October 28, 2024 he has announced that he is also leaving his position in the Board of Directors. New Risk • Oct 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (98% cash payout ratio). Reported Earnings • Oct 24
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr24.4b (down 17% from 3Q 2023). Net income: kr1.05b (down 70% from 3Q 2023). Profit margin: 4.3% (down from 12% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.9% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Oct 08
SSAB AB (publ) to Report Fiscal Year 2024 Results on Mar 17, 2025 SSAB AB (publ) announced that they will report fiscal year 2024 results at 8:00 AM, Central European Standard Time on Mar 17, 2025 Announcement • Sep 05
SSAB AB (Publ) Announces Retirement of Olavi Huhtala as Head of SSAB Europe SSAB AB (publ) announced that Olavi Huhtala, Head of SSAB Europe, will retire during winter 2025. A recruitment process to find his successor will now begin. Olavi Huhtala has been head of SSAB Europe and a member of SSAB's Group Executive Committee since 2014. Olavi Huhtala will remain in his role as head of SSAB Europe until the end of January 2025, after which he will remain as an advisor. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: kr2.43 (vs kr3.81 in 2Q 2023) Second quarter 2024 results: EPS: kr2.43 (down from kr3.81 in 2Q 2023). Revenue: kr28.3b (down 11% from 2Q 2023). Net income: kr2.42b (down 38% from 2Q 2023). Profit margin: 8.6% (down from 12% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.9% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jul 05
Now 23% overvalued Over the last 90 days, the stock has fallen 15% to €5.28. The fair value is estimated to be €4.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 5.6% in 2 years. Earnings are forecast to decline by 37% in the next 2 years. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: kr2.57 (vs kr3.59 in 1Q 2023) First quarter 2024 results: EPS: kr2.57 (down from kr3.59 in 1Q 2023). Revenue: kr27.1b (down 15% from 1Q 2023). Net income: kr2.57b (down 30% from 1Q 2023). Profit margin: 9.5% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.4% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 18
Upcoming dividend of kr5.00 per share Eligible shareholders must have bought the stock before 25 April 2024. Payment date: 02 May 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 7.7%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.9%). Announcement • Mar 21
SSAB Launches World's First Emission-Free Steel Powder SSAB is launching the world's first emission-free steel powder for commercial deliveries, made of recycled SSAB Zero® steel. The product will create opportunities for customers to 3D-print their unique designs in steel produced without fossil carbon dioxide emissions. The powder combines the properties of SSAB's high-strength steel with the light structural possibilities of 3D-printing. The production of steel is a large source of CO2 emissions when it comes to 3D-printing of steel products. By pulverizing SSAB's emission-free steel with fossil-free energy sources only, the carbon dioxide emissions from the steelmaking are reduced to virtually zero. Last year, SSAB launched its first conventional steel powder to the market, SSAB AM Engineering, and now the portfolio is expanded with SSAB AM Tough Zero®. SSAB will also be able to offer its unique fossil-free steel, based on HYBRIT technology, as a powder in limited volumes. In 2020, SSAB in Oxelösund invested in a steel powder production facility to produce premium advanced high-strength steel powder for additive manufacturing, also known as 3D-printing, as a complement to SSAB's regular steel offering. Steel powder is ideally suited for limited series of tailormade components or spare parts requiring high structural integrity and optimal functionality. It can be used in a wide variety of industries, from consumer goods to heavy machinery to automotive and more. SSAB has already provided prototype fossil-free steel powder to selected customers. In 2023, HT Laser 3D-printed the first fossil-free steel component suitable for a forest machine, and mining company Epiroc revealed a prototype hydraulic block for a rock drill in conventional steel powder and said it was exploring the possibility of using fossil-free powder. In 2022, Triwa launched the first consumer product made with fossil-free steel powder - a watch. To make powder, molten steel tailored for 3D-printing is broken up by high pressurized atomization gas, creating small spherical droplets which are solidified into powder. The steel powder is also produced using only fossil-free energy sources. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: kr12.67 (vs kr10.57 loss in FY 2022) Full year 2023 results: EPS: kr12.67 (up from kr10.57 loss in FY 2022). Revenue: kr119.5b (down 7.2% from FY 2022). Net income: kr13.0b (up kr23.9b from FY 2022). Profit margin: 11% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Revenue is expected to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to grow by 1.1%. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Mar 19
SSAB AB (publ) to Report Fiscal Year 2023 Results on Mar 18, 2024 SSAB AB (publ) announced that they will report fiscal year 2023 results on Mar 18, 2024 Announcement • Mar 16
SSAB AB (publ) Proposes Dividend, Payable on May 2, 2024 SSAB AB (publ)at the Annual General Meeting to be held on April 24, 2024, the Board of Directors proposed a dividend of SEK 5 per share. April 26, 2024, is proposed as the record date for payment of the dividend. Provided that the Meeting resolves in accordance with the proposal, dividends are expected to be distributed by Euroclear Sweden AB on May 2, 2024. Declared Dividend • Feb 05
Dividend of kr5.00 announced Shareholders will receive a dividend of kr5.00. Ex-date: 25th April 2024 Payment date: 2nd May 2024 Dividend yield will be 70%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 42% over the next 3 years. However, it would need to fall by 56% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: kr12.67 (vs kr10.57 loss in FY 2022) Full year 2023 results: EPS: kr12.67 (up from kr10.57 loss in FY 2022). Revenue: kr119.5b (down 7.2% from FY 2022). Net income: kr13.0b (up kr23.9b from FY 2022). Profit margin: 11% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Revenue is forecast to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Announcement • Jan 31
SSAB AB (publ) Proposes Dividend The board of SSAB AB (publ) proposed a dividend of SEK 5.00 (SEK 8.70) per share. Announcement • Oct 31
SSAB AB (publ) (OM:SSAB A) commences an Equity Buyback Plan, under the authorization approved on April 18, 2023. SSAB AB (publ) (OM:SSAB A) commences share repurchases on October 26, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 18, 2023. As per the mandate, the company is authorized to its own shares such that the company's holding of shares does not exceed 10% of issued share capital. The price to be paid for repurchase should be between the highest purchase price and lowest selling price applicable from time to time on Nasdaq Stockholm or Nasdaq Helsinki. The authorization will be valid till Next Annual General Meeting of the company in 2024.
On October 25, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 102,983,532 shares for SEK 2,500 million. The company will repurchase 30,418,327 Series A shares for SEK 625 million and 72,565,205 Series B shares for SEK 1,875 million. The plan will commence from October 26, 2023, and will be valid till March 11, 2024. As of October 25, 2023, the company had 1,029,835,326 issued shares, of which 304,183,270 are Series A shares and 725,652,056 are Series B shares. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: kr3.41 (vs kr4.93 in 3Q 2022) Third quarter 2023 results: EPS: kr3.41 (down from kr4.93 in 3Q 2022). Revenue: kr29.3b (down 6.9% from 3Q 2022). Net income: kr3.51b (down 31% from 3Q 2022). Profit margin: 12% (down from 16% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 6.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Sep 12
SSAB to Showcase Hardox Wear Plate at Mining Indonesia SSAB will join others in the industry to show case the latest and greatest of its Hardox offerings, in particular, its benefits for the mining and construction sector. Superior Hardox Wearplate: Quarry and mining operations often put high demands on equipment, and Hardox is able to alleviate many of the concerns throughout the production flow due to its unique properties. As a global leader in abrasion-resistant (AR) steel, utilizing Hardox translates to extended longevity and guaranteed high productivity in even the most challenging environments compared to other steel products on the market. Most importantly, safety is always the number one concern that the use of Hardox®? can address. Superior wear resistance reduces potential downtime needed for repair, be it damage caused by sliding, impact, or squeezing. Perfect for new and existing operations, the outstanding weldability and workshop-friendly properties of Hardox®? mean it can be easily integrated into established repair regimes, ensuring that production stays efficient and reduces the need to rely on stockpiling of spare parts. Hardox is versatile, tough and high performance: In addition, the design of the Hardox wear plate breaks the boundaries of traditional limits, allowing for new levels of performance that are enhanced further by increased cost savings for various applications includingvels, bulldozers, tippers, transfer chutes, and more. Hardox is also designed for applications requiring extremely high abrasion resistance that can still be welded, cut, milled, and drilled using standard workshop practices. Meanwhile, grades of genuine Hardox wear plates are manufactured in SSAB's advanced facility, one of the world's most CO2 efficient steel production plants. Reported Earnings • Jul 21
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr31.8b (down 11% from 2Q 2022). Net income: kr3.92b (down 51% from 2Q 2022). Profit margin: 12% (down from 23% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is expected to fall by 6.2% p.a. on average during the next 3 years compared to a 1.2% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 24
SSAB AB (publ) Announces Executive Changes, Effective July 1, 2023 Fredrik Haglund, current head of the Tibnor Denmark business unit, will take up the position of Tibnor President on July 1, 2023. Kimmo Väkiparta, current President, has decided to leave the company at his own request. Fredrik Haglund has been with Tibnor since 2008, and a member of the management team since 2016. He has led Tibnor Denmark since 2020, as well as managing Tibnor's parts business and Tibnor Sweden logistics andproduction before that. Fredrik Haglund will take up his new position on July 1, 2023, and be located at Tibnor HQ in Solna, Sweden. Announcement • May 10
SSAB AB (publ) Appoints Lars Sjöbring as EVP and Head of Legal Affairs and General Counsel and A Member of the Group Executive Committee, Effective May 15, 2023 Lars Sjöbring is appointed EVP and Head of Legal Affairs and General Counsel at SSAB AB (publ) and a member of the Group Executive Committee. He joins SSAB from a similar role at Education First Group and was previously EVP Legal Affairs and General Counsel at Veoneer and Autoliv. Lars Sjöbring holds a Master of Laws in American Corporate Law from Fordham University in the USA and a Master of Laws in European Business Law from the University of Amsterdam. He also holds an LLM from Lund University in Sweden. Lars Sjöbring will be based at SSAB's headquarters in Stockholm and will take up his position in May 15, 2023. Upcoming Dividend • Apr 12
Upcoming dividend of kr8.70 per share at 11% yield Eligible shareholders must have bought the stock before 19 April 2023. Payment date: 25 April 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 11%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (8.3%). Reported Earnings • Mar 27
Full year 2022 earnings released: kr10.57 loss per share (vs kr14.24 profit in FY 2021) Full year 2022 results: kr10.57 loss per share (down from kr14.24 profit in FY 2021). Revenue: kr128.7b (up 34% from FY 2021). Net loss: kr10.9b (down 174% from profit in FY 2021). Revenue is expected to fall by 6.8% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Announcement • Jan 31
SSAB AB (Publ) Announces Resignation of Jonas Bergstrand as General Counsel SSAB AB (publ) announced that Jonas Bergstrand, General Counsel at SSAB, has decided to leave SSAB to become General Counsel at Volvo Construction Equipment. Jonas Bergstrand has been General Counsel and a member of SSAB's Group Executive Committee since 2006. In the meantime, he has also held several other important responsibilities at SSAB including strategy, purchasing and M&A. Jonas Bergstrand is leaving SSAB this summer and a recruitment process to find his successor will begin immediately. Reported Earnings • Jan 28
Full year 2022 earnings released: kr10.57 loss per share (vs kr14.24 profit in FY 2021) Full year 2022 results: kr10.57 loss per share (down from kr14.24 profit in FY 2021). Revenue: kr128.7b (up 34% from FY 2021). Net loss: kr10.9b (down 174% from profit in FY 2021). Revenue is expected to fall by 11% p.a. on average during the next 3 years compared to a 2.4% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Employee Representative Director Tomas Westman was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 26
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr31.5b (up 25% from 3Q 2021). Net income: kr5.07b (up 13% from 3Q 2021). Profit margin: 16% (down from 18% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 12% p.a. on average during the next 3 years compared to a 3.3% decline forecast for the Metals and Mining industry in Europe. Announcement • Oct 24
Ssab to Showcase its Corrosive Wear Steel - Hardox® HiAce SSAB announced that it will showcase its corrosive wear steel - Hardox® HiAce in the upcoming Palmex exhibition held at Santika Premiere Dyandra Hotel & Convention, Medan from 25 to 27 October 2022. Hardox® HiAce lends itself perfectly to this scenario. It prevents abrasive wear and corrosion to these equipments by having a Brinell hardness of 425-475 HBW and a minimum Charpy impact test value of 27 J at -20 degrees Celsius. Hardox® HiAce is also applicable to a variety of industries such as paper and pulp mills, mining and quarrying operations, agricultural applications, as well as recycling and waste-to-energy plants. Its effectiveness in not only the palm oil industry but also in other sectors that operate in harsh environments. Reported Earnings • Jul 23
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr35.5b (up 50% from 2Q 2021). Net income: kr8.02b (up 149% from 2Q 2021). Profit margin: 23% (up from 14% in 2Q 2021). The increase in margin was driven by higher revenue. Announcement • Jul 18
SSAB Announces Latest Generation of Wear Plate Hardox(R) 500 Tuf at the Upcoming Queensland Mining Expo 2022 SSAB announced that it would be showcasing its latest generation of wear plate Hardox® 500 Tuf at the Queensland Mining and Engineering Expo (QME) happening between the 19th and 22nd July this year. For almost 30 years, QME has been at the heart of the mining sector in Australia. The large mining event in Queensland, the expo focuses on showcasing supplier innovation and excellence in the region. This year it is set to feature over 250 leading suppliers at the forefront of the mining industry, attracting over 5,000 visitors over three days. Hardox® 500 Tuf wear plate is the latest upgrade in the Hardox family range. It combines the best properties of Hardox® 450 and Hardox® 500. The Hardox® 500 Tuf brings new levels of productivity and cost-efficiency to mining. Handling blasted rock and ore in a mining tray is not only highly abrasive but also requires steel that can take a heavy impact. Hardox® 500 Tuf offers a hardness in the 500 HBW level for high wear resistance. Furthermore, it combines high hardness with high toughness, with a guaranteed narrow Brinell hardness range of 475-505 HBW. The wear plate has a guaranteed impact energy of 27 J at -20°C (20 ft-lb at -4°F) and a typical value of 45 J at -40°C (33 ft-lb at -40°F), making it the ideal choice for mining in cold and freezing conditions. According to research by Global Market Insights, the global Mining Equipment Market size crossed the USD 70 billion mark in 2020 and is set to grow at about 5% CAGR between 2021 and 2027. As such, showcasing Hardox® 500 Tuf couldn't be better. The QME will further strengthen the product awareness and help SSAB reach the right demographics. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €4.79, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Metals and Mining industry in Europe. Total returns to shareholders of 73% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.98 per share. Announcement • Jun 03
Ssab AB (Publ) Appoints Leena Craelius as CFO Leena Craelius has been appointed CFO at SSAB. She has held the position as acting CFO since November 1, 2021, and has previously held several senior positions at SSAB since she joined the company in 2005. Leena Craelius holds an MBA in Finance from Helsinki School of Economics and a BBA in International Business from Häme University of Applied Sciences. She will take up her new position immediately and will be based in Stockholm. 
