Q4 2024 SSAB AB Earnings Call Transcript
Key Points
- SSAB AB (SSAAF) maintained a strong market position in special and premium steels, with record sales to the automotive industry.
- The company is leading the green steel transition, with significant customer interest in green steel for electric vehicles.
- SSAB AB (SSAAF) achieved a strong safety performance, ending the year with a safety level of 0.75, reflecting a robust safety culture.
- The company has a strong balance sheet, maintaining a stable net cash position similar to the previous year.
- Strategic investments in Luleå and Oxelösund are expected to significantly reduce CO2 emissions and reposition SSAB Europe as a premium steel producer.
- Operating results for 2024 were lower than the previous year, primarily due to price decreases in the American market.
- Q4 volumes in special steels were lower than expected, partly due to shipment issues and maintenance delays.
- The construction and automotive segments faced weaker demand, impacting overall sales.
- The company is facing ongoing strikes in Finland, which could negatively impact Q1 earnings.
- The market environment remains challenging, with sensitivity to supply and demand fluctuations, particularly in the Americas.
Good morning everyone. Thank you. Just to start off here. Welcome to this presentation of the year end report. My name is Per Hillstrom. I'm Head of Investor Relations at SSAB and with me today is our President and CEO Johnny Sjostrom and CFO Leena Craelius.
And if we look at the agenda, we can see that John will be starting here with an introduction and also look at Q4 and the year the introduction, John will talk a little bit about the strategic path going forward and then the Q4 is normal lee and I will then come back with the financials. And at the end, John will close up with outlook and a summary. And as always, we will have the opportunity to ask questions at the end.
So by that please, Johnny, the floor is yours.
Thank you per and good morning again, everyone. We just briefly went through the agenda so I will not go through that again. So looking at our vision and this is a vision we had for a very long period of time, but
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