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The semiannual report of the SSAB steel manufacturer received a mixed reception during the Friday trading on the Stockholm Stock Exchange, where the stock took the lowest position of the OMXS30 index on a large scale . For Martin Lindqvist, general manager, there is no drama in the quarterly figures
"The results have been rather good, with strong markets in the United States and Europe, analysts have perhaps to be underestimated the effects of delay on the market. "He told the Direct News Agency.
The operating profit of SSAB amounted to 1630 million SEK for the second quarter." The forecast for the report was estimated at 1.816 million SEK, according to SME Direkt The operating margin was 8.5%, compared with 9.4% expected
You continue to expect good US demand and higher realized selling prices in several segments , and only some seasonal slowdown in Europe Could it be even better, or is it the peak of the steel boom?
"Underlying demand in the third quarter is stable in Europe, very good in the United States and very good for special steels. says Martin Lindqvist
SSAB took advantage of US tariffs on steel imports, which shut down players at low prices and resulted in higher market prices on coarse plates. "From a narrow and short-term SSAB perspective, this has been positive for us: over 90% of what we sell in the United States is locally manufactured and what we export from the Nordic countries are products where we are easier to compensate for, "commented the SSAB chief, stressing that the medium and long-term effects are uncertain and that the company is in principle against trade barriers.
SSAB announced on Friday morning that the companies are selling the Russian part of Ruukki Construction, a company that sells about 400 million crowns a year and which is part of SSAB as part of the merger with Rautaruukki.
Do you really want to sell Ruukki Construction?
"Not necessarily, what we sold was a very local business, a company that did not fit well with the rest of SSAB and it was nice to sell it. renodla. "
"I did not understand these courses and at the present time we have not planned anything, but I think what we are doing now is the right one. is a loss-making activity, "says Martin Lindqvist
SSAB is facing a situation where society becomes debt-free, a radical change from a few years ago when high debt was the biggest problem of the company. How do you consider the appearance of the balance sheet in the future?
"I am a little conservative and I want to see the money in my account before start spending them. What we are saying is that on a continuous basis of twelve months, we generate a cash flow of 6-7 billion kroner and we will continue to stay there. At the present time, we have no obvious strategic investments on the agenda and we will come back when we reach our goals, "Martin Lindqvist says.
Beyond the next quarters, the SSAB chief raises the Hybrit project for steel production without the SSAB, LKAB, Vattenfall and the Swedish Energy Agency invest 1.4 billion Swedish crowns in a pilot plant in Luleå, which will be ready in 2020 and a large-scale demonstration plant will be built in 2025. [19659003″Noussommeschanceuxaveccelaetjesuisconvaincuquenouslefaisonsc'estunvraichangementdejeucequisignifiequenousnerecevonsplusdedioxydedecarboneetemportons10%desémissionsdedioxydedecarbonedelaSuède”] How to benefit customers?
"We are faced with an incredibly high interest of customers, but it is also m constitutional efficiency.We are confident that the release of carbon dioxide will cost more, so it's strategically the best solution ", Says Martin Lindqvist
Are you still in the position of CEO in 2025 and that happens?
" I hope, but you can ask the council. I have been in the leadership since 2001 and I do not intend to give up, "says SSAB CEO.
SSAB A was traded after lunch on Friday around 4:20 pm on the Stockholm Stock Exchange , a drop of just over 7% for the day.
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