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September 06, 2008


Rautaruukki Q3 pretax up at EUR 159 million

Finnish steelmaker Rautaruukki on announced that it’s July to September pretax profit rising to EUR 159 million from EUR 141 million in July to September 2006 on net sales of EUR 935 million, up from EUR 885 million in 2006.

Summary of the January to September 2007 results is as under
1. Net sales EUR 2 895 million up by 16% on comparable net sales.
2. Operating profit EUR 518 million up by 49% on comparable operating profit
3. Operating profit for 2007 will markedly exceed the comparative figure for last year. The good market situation in the company’s customer industries is expected to continue. This will form a good platform for Rautaruukki in 2008.

January to September highlights include
1. Continued strong demand across Ruukki’s core market area and in main customer industries
2. Strong demand and deliveries continued within building construction in the Nordic countries, Russia and Central Eastern Europe
3. Brisk demand and deliveries at good level in infrastructure construction
4. Ruukki Construction almost doubled operating profit to EUR 117 million
5. Strong order books in all engineering customer sectors
6. Acquisitions have given Rautaruukki major new customers in the lifting, handling and transportation industry and expanded its product range
7. Special steel products continued to form an increasing share of sales
8. Strong organic business growth, especially in Central Eastern Europe and Russia, increased Group’s headcount by 12% YoY

Mr Sakari Tamminen president & CEO of Rautaruukki said that “Our net sales increased by 16% and operating profit by 49% on a comparable basis over the same period last year. We have seen steady, strong profitability development during past quarters. In line with our strategy we have successfully increased the share of the solutions businesses. Ruukki Construction and Ruukki Engineering of our net sales. We also aim to increase the share of special products of Ruukki Metals division’s net sales from the current figure of 24% to 40% by the end of 2010.”

He added that “There was continued brisk construction activity during January to September and deliveries increased in all markets, especially in the Nordic countries, Russia and Central Eastern Europe. Strong demand continued both in office and commercial construction and in infrastructure construction. Most of our deliveries focused on large transport infrastructure and harbor projects already under way in Finland, the Nordic countries and Russia. Our investments to increase production capacity in Central Eastern Europe, Finland and Russia progress as planned and will strengthen our delivery capability in our fast growing core market areas.”