Report for the first quarter of 2000

Strong Increase in Profit SSAB today presented its results for the first quarter of the year. Profit after financial items increased by SEK 370 million to SEK 478 (108) million. The increase in profit is due to improved margins and increased volumes in all operations. -Demand has been good and, as planned, we have been able to increase prices for our sheet products. In total, our prices are 6% higher than during the preceding quarter and 8% higher than during the first quarter of last year. Prior to the second quarter, we have been able to increase prices by an additional 5% for the approximately 50% of our deliveries which are renegotiated on a quarterly basis, says CEO Torsten Sandin in a comment on the results. -Deliveries in the steel operations are approximately 10% higher than during the weak start of last year and 5% higher than during the relatively strong finish during the final quarter of last year. It is particularly pleasing that we have been able to continue to grow in our niche areas. Deliveries of high-strength sheet and quenched steels are the highest ever for a single quarter - just over 10% higher than during the preceding quarter and almost 25% higher than during the first quarter of last year, Torsten Sandin adds. -It is interesting to note that capacity utilisation in the steel industry is higher at this stage in the upturn in the market than it has been on previous occasions. This should provide good market conditions for the steel industry in Western Europe during this year. -For the remainder of the year, there is the challenge of being able to exploit the positive market conditions, despite the fact that the large blast furnace construction in Luleå will limit access to steel. We have, therefore, bought steel slabs from other steelworks in order to compensate for the shortfall during the 73 intensive days in the summer when we will demolish the large blast furnace in Luleå and construct an even larger furnace on the same site, concludes Torsten Sandin. Report for the first quarter of 2000 * Profit after financial items increased by SEK 370 million to SEK 478 (108) million as a consequence of increased volumes and improved margins. * Continued increases in deliveries of the steel operations' niche products - high-strength sheet and quenched steels within the plate area. * For the year as a whole, it is anticipated that margins in the steel operations will continue to be better than last year, notwithstanding significantly increased costs for raw materials. Public Affairs Ivar Ahlberg/CB Telephone +46 70-541 85 86 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/27/20000427BIT00840/bit0001.doc The full report http://www.bit.se/bitonline/2000/04/27/20000427BIT00840/bit0002.pdf The full report