One of the largest steel companies in Sweden, SSAB, released a report for the third quarter. In the third quarter, there has been a slight increase in relation to the results of last year. In particular, after the correction of expenses for one-time payments, the company stated that its operating profit increased to 1.6 billion kroner ($ 175.3 million). Last year figures were 1.09 Swedish kronor.
It should be noted that these indicators are slightly lower than those predicted by analysts. Experts believed that the income would be 1.66 billion crowns.
Despite the fact that the Swedish company is one of the leaders of the American market for the production of steel sheets, the main income, in the third quarter, was brought to them by the European market.
Representatives of the company noted that there is a positive demand for steel in the European market. Accordingly, prices are relatively high. This trend should continue in the 4th quarter.
The company’s general director, Martin Lindquist, said that there is instability in political trends in Europe. Despite this, analysts predict that in the next quarter, demand for steel will continue to grow. This can, and should, lead to a slight increase in prices. Accordingly, it is planned to increase revenue.
Thus, despite the unstable political situation in Europe, the steel company continues to make money. Revenue growth is somewhat lower than in 2017. At the same time, the demand in Europe is higher than in America.