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Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
SSAB (SSAB) investor relations material
SSAB CMD 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.CMD 2025 summary4 Nov, 2025
Strategic direction and market positioning
Accelerating premium leadership by increasing advanced high-strength steels, value-added services, and decarbonized steel, targeting a premium mix of 65% by 2030 and 75% by 2035.
Major investments in Luleå and Oxelösund, including a new mini-mill and cold mill complex, will add 1.2 million tons of premium capacity and support decarbonization.
Transformation to EAF-based mini-mills in Nordic operations aims for significant CO2 reductions and enhanced flexibility, leveraging proven technical feasibility from US operations.
Subsidiaries Tibnor and Ruukki Construction are expanding value-added services, digitalization, and local presence to drive profitability and growth.
Strategy focuses on cost efficiency, premium product mix, and resilience, with all divisions targeting higher profitability and outperforming peers.
Financial guidance, investment plans, and performance
Over-the-cycle EBITDA margin has averaged 14%, with a target to reach 23% after strategic investments, and projected to rise to SEK 23 billion after 2030.
Planned strategic CapEx totals SEK 58 billion from 2026 to 2030, with strong net cash, secured financing, and a fully financed investment program.
Maintenance CapEx is expected to remain just below SEK 3 billion per year, decreasing as new technology is implemented.
Dividend policy remains at 40% of net profit, with net gearing targeted between -20% and +20%.
Transformation projects are expected to lower fixed costs by 50% and deliver substantial operational and financial benefits.
Technology transformation and operational excellence
Major shift from blast furnaces to electric arc furnaces in Oxelösund and Luleå enables flexible, low-emission, and premium steel production starting in 2027.
Luleå's new mini-mill will feature advanced digital EAF, high-productivity caster, and a cold mill complex with fully electric heating and multi-coating flexibility.
Proven ability to produce advanced grades like Hardox, Armox, and Docol via EAF, leveraging US experience and cross-site collaboration.
Raw material strategy includes internal scrap, take-back agreements, and flexibility between scrap and pig iron for supply security.
Operational improvements include high capacity utilization, safety performance, and continuous process optimization, supporting resilience and profitability.
SSAB Special Steels annual shipment growth target?
Breakdown of SEK 9bn EBITDA improvement?
SSAB Europe decarbonized steel shipment target?
Clarify Raahe's EAF role vs. Lulea mini-mill
Quantify EU policy impact on premium pricing
Detail scrap/virgin iron sourcing for EAFs
Partial view of Summaries dataset, powered by Quartr API
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Next SSAB earnings date
Q4 202528 Jan, 2026
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Frequently asked questions
SSAB AB manufactures and supplies steel products for construction, manufacturing industries, mining industries, and other infrastructure segments. Its products include structural steel, engineering steels, high strength steels, hot and cold rolled sheet piles, sheet piling accessories, reinforcing solutions and concrete structures. The company also offers wear-resistant plates, quenched and tempered plates, abrasion resistant steels, pipe and tube materials, composite solutions for tubular products, hardox wear parts centers businesses, structural sections business; and services. A current relevant focus of SSAB AB is the production of fossil-free steel and integrating fossil-free steel in its core business. SSAB AB was founded in 1878 and is headquartered in Stockholm, Sweden.
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