Comments by the CEO

SSAB's operating result for the third quarter of 2025 amounted to SEK 1,869 (1,248) million, representing an increase of SEK 621 million compared to last year, mainly driven by a stronger development in SSAB Americas. Compared to the previous quarter, the operating result declined slightly, primarily due to seasonally lower shipments and planned annual maintenance. The operating cash flow increased significantly to SEK 2,274 (1,428) million. Net cash flow was SEK 227 (116) million.

SSAB Special Steels had an operating result of SEK 1,392 (1,228) million and an operating margin of 22% (18%) during the quarter. SSAB Americas' operating result amounted to SEK 853 (78) million with an operating margin of 16% (2%), higher prices contributed positively. SSAB Europe's operating result decreased to SEK -179 (42) million and the operating margin was -2% (0%), lower prices for standard products had a negative effect.

The European steel market was cautious during the seasonally weaker third quarter. SSAB Europe carried out planned maintenance and used time banks to adjust operations. Market prices in North America for heavy plate softened somewhat during the quarter. SSAB will carry out planned maintenance both in North America and in Europe during the fourth quarter. 

In early October, the European Commission proposed new measures to strengthen the resilience of the European steel industry. The proposal is meant to replace existing safeguards and counteract the negative impacts of global excess capacity on the European steel industry. SSAB welcomes the proposal since it protects fair and open trade, while strengthening competitiveness. The next step is for the European Parliament and the Council of Ministers to examine and decide on the proposal.

The direct impact of the US steel tariffs on SSAB has so far been limited, as local production accounts for most of SSAB's sales on the US market. However, certain special products, mainly high-strength steel for the automotive industry, are exported from the Nordics.

SSAB continues its long-term work to improve workplace safety and lost time injury frequency (LTIF) decreased to an all-time low of 0.56 (0.82) during the quarter. The favorable development in safety creates the conditions for improved production stability and better capacity utilization over time.

SSAB invites you to a presentation of the Q3 2025 report at 10.00am CEST on Wednesday, October 22, 2025.

The report will be presented by SSAB's President and CEO Johnny Sjöström, and CFO Leena Craelius.

The press conference will be held in English and live webcast on SSAB's website www.ssab.com.

Link to webcast: https://edge.media-server.com/mmc/p/ujs3mica

You can also participate in the briefing by telephone. Click on the link below and complete the online registration form. You can choose if you want to dial in or click "Call Me" for a call-back.

Link to teleconference: https://register-conf.media-server.com/register/BI797dfc85b7fb4280ae700bf03a521406

For further information, please contact:
Helena Norrman, EVP and Head of Group Communications, Helena.norrman@ssab.com, phone: +46 730 66 53 46
Per Hillström, Head of Investor Relations, per.hillstrom@ssab.com, phone: +46 702 95 29 12

This information is inside information that SSAB AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and information that SSAB AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 7.30am CEST on October 22, 2025.