Gyorsan kereshet 2020-at
Report for the first quarter Recovery, but outlook uncertain Megosztás: április The first quarter of last year was characterized by more favorable market conditions, especially for SSAB Americas. Compared with the fourth quarter ofwhich was characterized by destocking, weak margins, as well as our yearly planned maintenance, earnings improved by SEK 1, million.
Operating profit was SEK million, lower volumes compared with the first quarter of had a negative impact. Compared with the previous quarter, demand recovered and earnings were up SEK million.
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Compared with the fourth quarter ofshipments and earnings recovered. The first quarter a year earlier was characterized by favorable market conditions with high heavy plate prices.
Currently, our top priority is to minimize the effects and the risks of Covid Furthermore, measures have been put in place to decrease the negative effects of lower shipments and higher underabsorption because of lower industrial activity among our customers. Gyorsan kereshet 2020-at three steel divisions have brought forward annual planned maintenance outages to the summer. Short-time work allowances and layoffs have been introduced, external gyorsan kereshet 2020-at have been sharply reduced, projects have been pushed back and all other costs are being reviewed.
These measures will deliver annualized savings totaling more than SEK 1 billion. We are postponing strategic investments of at least SEK million that had been planned forbut maintenance investments will be performed as planned.
Despite great uncertainty, SSAB continues to focus on developing the special steels business and the transition to fossil-free steel, both gyorsan kereshet 2020-at which are deemed important to strengthen our long-term competitiveness.
The briefing will be held in English and it will also be possible to participate via telephone. Time of briefing: Monday, April 27, at 9. Teleconference numbers:.
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