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Finland-based steelmaker Ruukki has issued its financial results for the first nine months of the current year, posting an operating profit of �27 million for the period in question, 13 percent lower than the same period of the previous year. The decline in the operating profit was due to weaker profitability of the construction business compared to a year earlier. Net sales revenues in the first nine months this year amounted to �1.77 billion, decreasing by two percent year on year, mostly because of lower sales volumes in construction and currency effects. The company''s order intake decreased by 2.8 percent to �1.75 billion in the given period, compared to the first nine months of 2013.
According to Ruukki, during the first nine months of the current year, the steel market in western Europe demonstrated a normal seasonal slowdown, but otherwise demand was stable. In eastern Europe, uncertainty has increased and demand has weakened due to the complicated political situation in Russia and Ukraine. Inventory levels at distributors and end customers in Europe are considered to be in balance. Growth in the Asian market remains weak, primarily due to a slowdown in China. Market prices in Europe, for both strip and plate products, recovered during the third quarter after having fallen slightly towards the end of the second quarter.
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