SSAB

The quarter
• Sales declined by 56% to SEK 6,583 (14,957) million
• Operating profit of SEK -952 (3,149) million
• Profit after financial items of SEK -1,096 (3,006) million
• Profit after tax of SEK -636 (2,031) million, entailing earnings per share of SEK -1.95 (6.16)
• Operating cash flow of SEK 2,119 (2,536) million and cash flow from current operations of SEK 1,917 (1,379) million
• Net debt/equity ratio was 52%, unchanged compared with the end of the first quarter.

The half year
• Sales declined by 48% to SEK 14,618 (27,867) million
• Operating profit of SEK -1,086 (5,897) million
• Profit after financial items of SEK -1,311 (5,378) million
• Profit after tax of SEK -483 (3,732) million, entailing earnings per share of SEK -1.45 (11.32)
• Operating cash flow of SEK 3,043 (5,326) million and cash flow from current operations of SEK 1,541 (3,118) million
• The return on capital employed for the most recent twelve-month period was 5 (17)% and the return on equity was 7 (22)%.

The quarter (Unless otherwise stated, the report relates to the continuing operations, i.e. excluding the tubular business) *)
• Sales increased by 7% to SEK 13,063 (12,204) million, of which SSAB North America accounted for SEK 4,483 (3,597) million
• Operating profit was SEK 979 (2,574) million, of which SSAB North America contributed SEK 789 (840) million. Excluding non-recurring items, the operating profit was SEK 1,477 (2,526) million
• Profit after financial items was SEK 841 (2,093) million and, excluding non-recurring items, SEK 1,339 (2,296) million
• Profit after tax was SEK 833 (1,512) million, entailing earnings per share of SEK 2.66 (4.60)
• The cash flow from current operations for the entire operations amounted to SEK 1,366 (1,344) million
• Due to changes in the SEK/USD exhange rate, the net debt/equity ratio during the quarter increased to 48%

The full year (Unless otherwise stated, the report relates to the continuing operations, i.e. excluding the tubular business) *)
• Sales increased by 34% to SEK 54,329 (40,441) million, of which SSAB North America accounted for SEK 16,745 (6,107) million
• Operating profit was SEK 9,516 (7,923) million, of which SSAB North America contributed SEK 2,951 (1,383) million. Excluding non-recurring items, the operating profit was SEK 9,900 (8,396) million
• Profit after financial items was SEK 8,953 (6,964) million and, excluding non-recurring items, SEK 9,191 (7,949) million
• Profit after tax was SEK 6,508 (5,035) million, an increase of 29%, entailing earnings per share of SEK 19.90 (16.63)
• The cash flow from current operations for the entire operations amounted to SEK 5,387 (3,574) million, an improvement of 51%
• The return on capital employed for the most recent twelve-month period was 17 (18)% and the return on equity was 22 (22)%
• A dividend is proposed of SEK 4.00 (5.00) per share, equal to SEK 1,296 (1,620) million.

*) The discontinued operations have been removed from the income statements and are reported solely as Profit after tax for discontinued operations. The balance sheet includes the discontinued operations until the divestment on June 12, 2008. The results for the discontinued operations have been affected by interest expenses corresponding to the net purchase price received in conjunction with the sale. SSAB North America is included in the Group commencing July 18, 2007.