Results for 2000

Results for 2000 · Profit after financial items, excluding non-recurring items, increased by SEK 861 million to SEK 1,283 (422) million. Including non- recurring items of SEK 587 (45) million, profit amounted to SEK 1,870 (467) million. · Deliveries of the steel operations' niche products increased by 12% and amounted to 42 (40)% of the steel operations' total deliveries. · The Board proposes an increased dividend to SEK 5.00 (4.50) per share. · The Board proposes a reduction of share capital through the cancellation of repurchased shares. Consolidated Profit and Loss Account 1999 2000 1999 2000 SEK millions Q 4 Q 4 Full Full year year Sales 4,513 5,261 16,807 19,271 Cost of goods sold -3,710 -4,280 -14,530 -16,100 Gross profit 803 981 2,277 3,171 Selling and administrative -462 -505 -1,701 -1,830 expenses Other operating revenues and -19 12 -59 601 expenses *) Affiliated companies 21 8 25 20 Operating profit 343 496 542 1,962 Financial items -22 -17 -75 -92 Profit after financial items 321 479 467 1,870 Tax -131 -121 -177 -517 Minority shares -1 -3 -9 -42 Profit after tax 189 355 281 1,311 Return on capital employed - - 5 15 before tax (%) Return on equity after tax - - 3 14 (%) Earnings per share (SEK) 1.70 3.40 2.50 12.00 Equity per share (SEK) 86.50 94.50 86.50 94.50 Equity ratio (%) 56 50 56 50 Number of shares at end of 112.11 102.54 112.11 102.54 period (millions) *) The effect on profits of surplus funds from SPP amounts to SEK 636 million and is included as other operating revenue. Market According to the International Iron and Steel Institute's autumn assessment, global steel consumption increased by 6% to a new record level of 752 million tonnes. Generally there has been a high level of utilisation of capacity within the steel industry and global steel production is estimated to have increased by 7%. However, during the autumn, capacity utilisation in the US steel industry declined in pace with a weakened demand for steel. Demand for steel in Europe began to increase during the autumn of 1999 after a relatively brief downturn. The upturn commenced from a higher level than previously but was weaker than in previous upturns during the last decade. Towards the end of the year, however, demand began to level out but at a higher level than previously reached. Steel consumption in Sweden is estimated to have increased by approx. 5%. Demand for sheet increased and amounted to just over 1,900,000 tonnes and consumption of plate increased to approx. 200,000 tonnes. The Group's Swedish market shares for sheet and plate were just under 50%. During the first half of the year, delivery times on the sheet market increased significantly, a fact which enabled gradual price increases to be carried out. However, after the summer delivery times returned to normal and prices stabilised. Plate was affected at a later stage in the upturn in the business cycle and it was possible to begin to increase prices for ordinary plate towards the end of the first half of the year. Pressure on prices for sheet developed during the fourth quarter in pace with decreased delivery times. Therefore, towards the end of the year, a number of sheet customers held back orders, a fact which resulted in a significant reduction in the order book. However, towards the end of December the flow of orders recovered and has been at a normal level in January. During the fourth quarter, the Group's average sheet prices were 2% lower than during the third quarter. The lower prices were primarily due to a seasonal change in product mix. Prices for plate were approximately unchanged in local currency. Steel prices in Swedish currency for the year as a whole were 13% higher than during 1999. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/13/20010213BIT00660/bit0002.doc The full Year-End Report http://www.bit.se/bitonline/2001/02/13/20010213BIT00660/bit0002.pdf The full Year-End Report

About Us

SSAB is a Nordic and US-based steel company. SSAB offers value added products and servicesdeveloped in close cooperation with its customers to create a stronger, lighter and more sustainableworld. SSAB has employees in over 50 countries. SSAB has production facilities in Sweden, Finlandand the US. SSAB is listed on the Nasdaq OMX Nordic Exchange in Stockholm and has asecondary listing on the Nasdaq OMX in Helsinki. www.ssab.com

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