· Sales of SEK 8,833 (11,023) million
· Operating profit/loss of SEK -136 (479) million
· Profit/loss after financial items of SEK -278 (329) million
· Earnings per share of SEK -0.42 (0.87)
· Operating cash flow of SEK 85 (1,887) million and cash flow from current operations of SEK -111 (1,684) million
Comments by the CEO
The economic activity in North America and Asia strengthened somewhat while, as expected, the trend in Europe was very weak. The first quarter was characterized by a degree of restocking by customers, which had a positive impact on SSAB's volumes within all business areas. Prices of SSAB’s products were marginally lower during the quarter. Variable as well as fixed costs were lower during the quarter. In North America, margins were negatively affected by the fact that scrap metal prices remained at a relatively high level.
During the quarter, we completed all parts of the previously announced efficiency program. This will gradually...