Safety Improvement
Lost time injury frequency improved to 0.56 in 2025 and total recordable injuries also reduced, reflecting stronger safety performance across the organization.
Strong Balance Sheet and Net Cash Position
Net cash at year-end was SEK 11.6 billion (end-2024: SEK 17.8 billion), maintaining a healthy net debt/equity position of around -17% and within financial targets despite heavy strategic investments.
Full-Year Operating Result and YoY EBITDA Improvement
Full-year operating result was SEK 6.1 billion. Q4 EBITDA was SEK 1.8 billion, up vs Q4 2024 (SEK 1.6 billion) representing an EBITDA margin of ~8% (vs 7% a year earlier).
Shipment Growth in Q4
Q4 shipments were 1,515 kilotonnes, up 49 kt (3%) vs Q3 and up 67 kt (5%) vs prior-year Q4, with all steel divisions reporting higher year‑on‑year volumes.
Product & Commercial Innovation
Launched and developed premium grades and offerings: Hardox HiAce (wear-resistant alternative to stainless), Docol high edge tailored AHSS for automotive, a new complex phase product in collaboration with Gestamp, and a rapeseed-oil based environmentally friendly color coating via Ruukki Construction.
Strategic Projects Progressing
Oxelösund EAF project progressing to plan with targeted production start-up early 2027; Luleå project advanced (groundbreaking, environmental permit, customer/supplier agreements). Strategic CapEx executed: SEK ~7.2 billion in 2025; 2026 strategic CapEx guided to SEK 10.5 billion (Luleå ~SEK 6 billion, Oxelösund <SEK 3 billion).
Dividend Proposal
Board proposed a SEK 2.00 dividend per share to be decided at the AGM, demonstrating confidence in cash generation and capital allocation despite heavy investment spending.
Operational Execution in Americas
SSAB Americas delivered strong December shipments and order intake in Q4, helping the division reach expected result levels despite a weaker USD translation into SEK.