SSAB Q2 Profit Declines

(RTTNews) - SSAB reported that its second quarter result declined to 1.85 billion Swedish kronor from 2.42 billion kronor, prior year. Earnings per share was 1.86 kronor compared to 2.43 kronor. Operating result was 2.14 billion Swedish kronor compared to 2.97 billion kronor. Revenue was 25.63 billion Swedish kronor compared to 28.28 billion kronor.

CEO stated: "The decrease in operating profit compared to last year was mainly related to lower prices of standard steel. The market in Europe saw a weakening and SSAB will take appropriate measures during the third quarter."

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