Steelmaker SSAB aims to boost its core earnings growth over the next five years through strategic investments and an increased share of premium steels in its product mix, it said in a statement published ahead of its investor day on Tuesday.
The Swedish group said it expects to lift “over-the-cycle” earnings before interest, taxes, depreciation and amortisation to around 23 billion Swedish crowns ($2.4 billion) after 2030, compared to 14 billion crowns in the previous business cycle. It did not specify what years were covered by the prior period and was not immediately available for clarifying questions.
SSAB, whose specialized high-strength steels are used in cars, construction machinery and agricultural equipment, also said it aimed to accelerate growth of its premium offering so that it would make up 65 per cent of its total shipments by 2030 and 75 per cent by 2035.
Premium products, as opposed to commodity steel, make up 55 per cent of SSAB’s shipments today.
