DOCSLIB.ORG

ANNUAL REPORT 2020 Toward Industry-Leading Profitability BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
ANNUAL REPORT 2020 Toward Industry-Leading Profitability BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020 ANNUAL REPORT 2020 Toward industry-leading profitability BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020 HIGHLIGHTS SSAB AND 2020 IN BRIEF OPERATING ENVIRONMENT STRATEGY BUSINESS SEGMENTS 2 Contents Business Review Sustainability Report Financial Reports 2020 CEO’s review 5 Sustainability approach 45 GRI Report Supplement 94 Board of Directors Report 133 The world’s first pilot plant for fossil-free steel 7 Sustainability strategy 46 Reporting practice 95 Highlights in 2020 8 Sustainability targets beyond 2020 48 Sustainability governance 96 Statements 160 Financial targets 9 Sustainability targets ending 2020 52 Stakeholder engagement 98 This is SSAB 10 SSAB and the value chain 54 Materiality assessment 101 Consolidated statement of profit and loss 160 GRI index 110 Consolidated statement of comprehensive SSAB and 2020 in brief 11 First in fossil-free steel 56 Climate-related financial disclosures income 160 Business segments 12 Use better steel: SSAB’s customers benefit (TCFD) index 114 Consolidated statement of financial position 161 Global presence 13 from leading CO2 efficient production 57 Auditor’s Combined Assurance Report on Consolidated statement of changes 2020 in brief 14 Use steel better: Environmental benefits with SSAB AB (publ)’s Sustainability Report in equity 162 The SSAB Way 15 SSAB’s steels 59 and statement regarding the Statutory Consolidated statement of cash flows 163 Vision and values 16 Go fossil-free: SSAB to be the first in Sustainability Report 115 SSAB’s value creation 17 fossil-free steel with HYBRIT technology 63 Parent Company’s statement of profit and loss 164 Parent Company’s statement of Operating environment 18 Leading sustainability performance 66 comprehensive income 164 Global megatrends affecting SSAB 19 Safety first: Becoming the world’s safest Corporate Governance Report Parent Company’s statement of financial Steel market and SSAB’s position 20 steel company 67 position 165 Resource efficient operations 71 Corporate Governance Report 2020 117 Parent Company’s statement of changes in Strategy 23 Material efficiency and recycling 76 Board of Directors 121 equity 166 Taking the Lead 24 Energy efficiency 78 Group Executive Committee 125 Parent Company’s statement of cash flows 167 Water recirculation in the production Business segments 28 process 80 5-year summary, Group 168 SSAB Special Steels 29 Responsible sourcing 81 Accounting and valuation principles 169 SSAB Europe 32 Zero tolerance for bribery and corruption 84 Notes 181 SSAB Americas 35 High-performing organization 87 Proposed allocation of profit 236 Tibnor 38 Human rights and fair labor conditions 93 Auditor’s report 237 Ruukki Construction 40 Shares and shareholders 243 Research and Development 42 Annual General Meeting, Nomination Committee, Calendar 246 Addresses 248 SSAB ANNUAL REPORT 2020 BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020 HIGHLIGHTS SSAB AND 2020 IN BRIEF OPERATING ENVIRONMENT STRATEGY BUSINESS SEGMENTS 3 About this report SSAB’s Annual Report 2020 consists of four SSAB’s Annual Report 2020 may be downloaded sections: Business Review, Sustainability at www.ssab.com. The Annual Report is an Report, Financial Reports 2020 and Corporate interactive pdf document providing easy How to navigate SSAB’s channels Governance Report. The Annual Report provides movement between the different sections using The following symbols guide you to more an overview of SSAB’s business as well as the top navigation menu. All four parts of the information on our website or in this financial, social and environmental performance Annual Report are published in English and report. Also underlined page numbers are in 2020. The Sustainability Report 2020 has Swedish. In the event of any differences between links to those pages in this report. been prepared in accordance with the GRI English translations and the Swedish original, Standards: Core option. the Swedish Report shall prevail. The Business Read more on our website (clickable) Review part with the CEO’s review is published Read more in this report also in Finnish. BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020 BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020 BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020 BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020 HIGHLIGHTS SSAB AND 2020 IN BRIEF OPERATING ENVIRONMENT STRATEGY BUSINESS SEGMENTS SUSTAINABILITY APPROACH FIRST IN FOSSIL-FREE STEEL LEADING SUSTAINABILITY PERFORMANCE GRI REPORT SUPPLEMENT CORPORATE GOVERNANCE REPORT 2020 BOARD OF DIRECTORS GROUP EXECUTIVE COMMITTEE BOARD OF DIRECTORS’ REPORT STATEMENTS 5-YEAR SUMMARY PRINCIPLES NOTES AUDITOR’S REPORT SHAREHOLDER INFORMATION 4 44 116 132 BUSINESS SUSTAINABILITY CORPORATE FINANCIAL REVIEW REPORT GOVERNANCE REPORTS 2020 REPORT Board of Directors Report 133 5-year summary, Group 168 CEO’s review 5 Strategy 23 Accounting and valuation principles 169 The world’s first pilot plant for fossil-free steel 7 Taking the Lead 24 Statements 160 Notes 181 Highlights in 2020 8 Sustainability approach 45 Leading sustainability performance 66 GRI Report Supplement 94 Proposed allocation of profit 236 Financial targets 9 Business segments 28 Sustainability strategy 46 Safety first: Becoming the world’s safest Reporting practice 95 Consolidated statement of profit and loss 160 Auditor’s report 237 This is SSAB 10 SSAB Special Steels 29 Sustainability targets beyond 2020 48 steel company 67 Sustainability governance 96 Consolidated statement of Shares and shareholders 243 SSAB Europe 32 Sustainability targets ending 2020 52 Resource efficient operations 71 Stakeholder engagement 98 comprehensive income 160 Annual General Meeting, SSAB and 2020 in brief 11 SSAB Americas 35 SSAB and the value chain 54 Material efficiency and recycling 76 Materiality assessment 101 Corporate Governance Report 2020 117 Consolidated statement of financial position 161 Nomination Committee, Calendar 246 Business segments 12 Tibnor 38 Energy efficiency 78 GRI index 110 Board of Directors 121 Consolidated statement of changes in equity 162 Addresses 248 Global presence 13 Ruukki Construction 40 First in fossil-free steel 56 Water recirculation in the production Climate-related financial disclosures Group Executive Committee 125 Consolidated statement of cash flows 163 2020 in brief 14 Research and Development 42 Use better steel: SSAB’s customers benefit process 80 (TCFD) index 114 The SSAB Way 15 from leading CO2 efficient production 57 Responsible sourcing 81 Auditor’s Combined Assurance Report on Parent Company’s statement of profit and loss 164 Vision and values 16 Use steel better: Environmental benefits with Zero tolerance for bribery and corruption 84 SSAB AB (publ)’s Sustainability Report Parent Company’s statement of comprehensive SSAB’s value creation 17 SSAB’s steels 59 High-performing organization 87 and statement regarding the Statutory income 164 Go fossil-free: SSAB to be the first in Human rights and fair labor conditions 93 Sustainability Report 115 Parent Company’s statement of financial position 165 Operating environment 18 fossil-free steel with HYBRIT technology 63 Parent Company’s statement of changes in equity 166 Global megatrends affecting SSAB 19 SSAB (publ.) is listed on NASDAQ Stockholm (Large cap list) Parent Company’s statement of cash flows 167 Steel market and SSAB’s position 20 and has a secondary listing on NASDAQ Helsinki. SSAB ANNUAL REPORT 2020 SSAB ANNUAL REPORT 2020 SSAB ANNUAL REPORT 2020 SSAB ANNUAL REPORT 2020 Business Review Sustainability Report Corporate Governance Report Financial Reports 2020 SSAB and 2020 in brief, strategy, value creation, Externally assured sustainability information compliant Corporate Governance Statement including remuneration Board of Directors’ Report, Financial statements and businesses with the GRI Standards investor information SSAB ANNUAL REPORT 2020 BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020 HIGHLIGHTS SSAB AND 2020 IN BRIEF OPERATING ENVIRONMENT STRATEGY BUSINESS SEGMENTS 4 BUSINESS REVIEW CEO’s review 5 Strategy 23 The world’s first pilot plant for fossil-free steel 7 Taking the Lead 24 Highlights in 2020 8 Financial targets 9 Business segments 28 This is SSAB 10 SSAB Special Steels 29 SSAB Europe 32 SSAB and 2020 in brief 11 SSAB Americas 35 Business segments 12 Tibnor 38 Global presence 13 Ruukki Construction 40 2020 in brief 14 Research and Development 42 The SSAB Way 15 Vision and values 16 SSAB’s value creation 17 Operating environment 18 Global megatrends affecting SSAB 19 SSAB (publ.) is listed on NASDAQ Stockholm (Large cap list) Steel market and SSAB’s position 20 and has a secondary listing on NASDAQ Helsinki. SSAB ANNUAL REPORT 2020 BUSINESS REVIEW SUSTAINABILITY REPORT CORPORATE GOVERNANCE REPORT FINANCIAL REPORTS 2020 HIGHLIGHTS SSAB AND 2020 IN BRIEF OPERATING ENVIRONMENT STRATEGY BUSINESS SEGMENTS 5 SSAB in strong position – despite a challenging year The year 2020 was a challenging one, which saw us successfully cope with the effects of Covid-19. At the same time, SSAB is well equipped for 2021 and beyond. Our focus is on being the first in the world with fossil-free steel and SSAB will continue to lead the transition in the industry. We find ourselves very well placed to strengthen profitability and our market position. Solid performance
Load more

Recommended publications
  • ANNUAL REPORT 2018 Toward Industry-Leading Profitability CONTENTS
    ANNUAL REPORT 2018 Toward industry-leading profitability CONTENTS 28 Businesses 60 Sustainable offering 145 Consolidated statement 29 SSAB Special Steels 61 Environmental benefits from of comprehensive income 33 SSAB Europe high-strength steels 146 Consolidated balance sheet 37 SSAB Americas 63 SSAB EcoUpgraded concept 147 Consolidated statement 41 Tibnor of changes in equity 44 Ruukki Construction 65 Sustainable operations 148 Consolidated cash flow 47 How we work with 66 Minimizing environmental statement BUSINESS REVIEW 2018 customers impact CORPORATE GOVERNANCE 49 Swedish Steel Prize 67 Material efficiency REPORT 2018 149 Parent Company 3 Introduction and recycling 149 Parent Company’s income 3 SSAB in brief 69 Energy consumption 106 Corporate Governance statement 5 2018 in brief and efficiency Report 2018 149 Parent Company’s other 6 Vision and values 71 Water recirculation 110 Board of Directors comprehensive income 7 SSAB’s value creation in the processes 114 Group Executive Committee 150 Parent Company’s balance 8 CEO’s review 72 CO2 efficient steel production sheet 10 SSAB as an investment 151 Parent Company’s statements 76 Responsible partner of changes in equity 11 Operating environment 77 High-performing 152 Parent Company’s cash flow 12 SSAB’s global presence organization statement 13 Global megatrends 84 Occupational health affecting SSAB SUSTAINABILITY and safety 153 5-year summary, Group 14 Steel market and REPORT 2018 87 Business ethics 154 Accounting and SSAB’s position and anticorruption valuation principles 17 Market
    [Show full text]
  • SSAB Announces the Terms of Its Rights Issue
    Not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, the United States or any other jurisdiction where such distribution of this press release would be subject to legal restrictions. PRESS RELEASE May 24, 2016 SSAB announces the terms of its rights issue SSAB AB (publ) (“SSAB” or the “Company”) announced on April 22, 2016 that the Board of Directors had resolved, subject to approval at the Extraordinary General Meeting (the “EGM”) on May 27, 2016, to launch a rights issue of approximately SEK 5 billion with preferential rights for existing shareholders. SSAB’s Board of Directors today announces the terms of the rights issue. The rights issue in brief Rights issue of Class B shares of approximately SEK 5 billion with preferential rights for existing shareholders in SSAB Shareholders in SSAB are entitled to subscribe for 7 new B shares for 8 old A and/or B shares held The subscription price is SEK 10.50 per share. For subscription of shares that will be registered with Euroclear Finland and listed on Nasdaq Helsinki, the subscription price is to be paid in EUR based on the European Central Bank EUR/SEK reference rate on May 31, 2016. The subscription price in EUR will be announced by way of a press release on or about May 31, 2016 The rights issue is subject to approval at the EGM on May 27, 2016 The record date is May 31, 2016 and the subscription period runs from June 3, 2016 until June 17, 2016 (both dates inclusive) or until such later date as decided by the Board of Directors SSAB’s two largest shareholders, Industrivärden and Solidium, together representing 28.7 per cent of the capital and 29.3 per cent of the votes, have undertaken to subscribe for their pro rata shares of the rights issue.
    [Show full text]
  • PRESS RELEASE Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC “MMC “Norilsk Nickel”, “Nornickel” Or the “Company”)
    PRESS RELEASE Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC “MMC “Norilsk Nickel”, “Nornickel” or the “Company”) NORNICKEL AWARDS MAJOR CONTRACT FOR PROCESSING EQUIPMENT SUPPLY TO METSO OUTOTEC Moscow, August 10, 2021 - Nornickel, the world’s largest producer of palladium and high- grade nickel and a major producer of platinum and copper, has awarded a major contract for the supply of some of the key industry-leading equipment used in mining operations to Metso Outotec, further extending the partnership with Finland’s technology solutions provider. Nornickel and Metso Outotec have signed an agreement to deliver industry-leading dewatering, flotation and automation equipment for Nornickel’s Talnakh concentrator expansion project in Russia’s Arctic city of Norilsk. The contract value is a commercially sensitive matter and therefore may not be disclosed publicly. Metso Outotec’s delivery scope consists of modernization of three existing thickeners and delivery of over 100 TankCell® flotation machines and an automation system for the new Talnakh concentrator Line 3 flotation area. In addition, the contract covers the supply of spare parts and consumables. Metso Outotec will also provide a metallurgical performance guarantee as well as advisory services for the installation and commissioning of the equipment. The delivery is scheduled for 2022-23. Sergey Dubovitsky, Nornickel Senior Vice President Strategy, Strategic Projects, Logistics & Procurement, commented: “The new contract further develops the collaboration with our longstanding partner Metso Outotec, which has supplied technology to us for many years. We have an excellent track record of using the Metso Outotec machinery across the entire geography of our operations.
    [Show full text]
  • Write the Title
    Aktienytt Aktieanalys - fredag den 13 april 2018 Nyhetsrik vecka i väntan på rapportsäsongen Marknadskommentar Stockholmsbörsen bjöd sammantaget på en positiv utveckling under veckan och var vid fredagseftermiddagen kl 14:00 upp med 0,4% för veckan. I takt med att oron för handelskrig lugnade sig något så övertog geopolitisk oro marknadens huvudfokus. Tele2 Com Hem minskar risken i Tele2 Sverige Rek: KÖP Riktkurs: 125 SEK Vi anser att Com Hem passar mycket bra för Tele2, eftersom man har en Pris: 105 SEK fast B2C-verksamhet som Tele2 Sverige för närvarande saknar. Vi esti- Analytiker: Stefan Billing merar att affären kan addera 10 SEK per utspädd aktie till vår värdering. Vi estimerar en FCFPS-tillväxt på 15-20%, baserat på fulla synergier. Vi uppgraderar till Köp (Behåll). Riktkursen höjs till 125 SEK (110). Fokus på specialstål och Amerika SSAB Rek: KÖP Fortsatt stark utveckling och goda utsikter förväntas när SSAB släpper Riktkurs: 53 SEK sitt resultat för det första kvartalet. De största förbättringarna framöver Pris: 49 SEK väntas inom SSAB specialstål (volym och försäljningsmix) samt SSAB Analytiker: Ola Soedermark Amerika från den starka prisutvecklingen i USA. Vi upprepar vår Köpre- kommendation och vår riktkurs på 53 SEK. Bolag Rek. Riktkurs Pris Analytiker Veckans bolag Tele2 Köp 125 SEK 105 SEK Stefan Billing SSAB Köp 53 SEK 49 SEK Ola Soedermark Nordea Bank Köp 95 SEK 85 SEK Robin Rane Danske Bank Köp 253 DKK 221 DKK Robin Rane SHB Minska 91 SEK 98 SEK Robin Rane SKF Behåll 197 SEK 176 SEK Markus Almerud Boliden Köp 320 SEK 290 SEK Ola Soedermark Com Hem Köp 165 SEK 142 SEK Stefan Billing Nordic Semicon.
    [Show full text]
  • Financial Statements Review 2019
    2019 Financial Statements Review Metso’s Financial Statements Review January 1 – December 31, 2019 Metso has classified its Minerals segment as discontinued operations from October 29, 2019, in accordance with IFRS. This was based on the decision taken by Metso’s Extraordinary General Meeting on October 29, 2019, to approve the partial demerger of the company. As a result, the depreciation and amortization of the Minerals segment is calculated only for the period of January-October 2019 according to IFRS. Metso has also prepared consolidated financial information, where the depreciation and amortization of Minerals is calculated for the full- year 2019, and these figures are comparable to the year 2018. Analysis of the fourth-quarter 2019 and January-December 2019 in this Financial Statements Review is based on the comparable figures unless otherwise noted. Figures in brackets refer to the corresponding period in 2018, unless otherwise stated. Fourth-quarter 2019 in brief • Market activity continued to be good • Orders received increased 1% to EUR 914 million (902 million) • Sales grew 7%, totaling EUR 963 million (897 million) • Adjusted EBITA improved to EUR 117 million, or 12.2% of sales (98 million, or 10.9%) • Operating profit improved to EUR 96 million, or 10.0% of sales (93 million, or 10.4%) • Earnings per share were EUR 0.41 (0.42) • Free cash flow was EUR 18 million (57 million) • Acquisition of the Canadian mobile aggregates equipment supplier McCloskey was completed • Shareholders approved Metso’s partial demerger to create
    [Show full text]
  • Svenska Handelsbanken
    SVENSKA HANDELSBANKEN Meeting Date: Wed, 25 Mar 2015 9:30am Type: AGM Issue date: Tue, 10 Mar 2015 Meeting Location: Hôtel’s Winter Garden, Royal entrance, Stallgatan 4, Stockholm Current Indices: FTSE EuroFirst Sector: Banks PROPOSALS ADVICE 1 Opening of the meeting Non-Voting Non-voting agenda item. 2 Elect Mr Sven Unger be chairman of the meeting Non-Voting Non-voting agenda item. 3 Establishment and approval of the list of voters Non-Voting Non-voting agenda item. 4 Approval of the agenda Non-Voting Non-voting agenda item. 5 Election of two persons to countersign the minutes Non-Voting Non-voting agenda item. 6 Determining whether the meeting has been duly called Non-Voting Non-voting agenda item. 7 A presentation of the annual accounts, Board’s report and auditors’ report Non-Voting Non-voting agenda item. 8 Receive the Annual Report For Disclosure is acceptable and the report was made available sufficiently before the meeting. However, the Company has been involved in alleged improper use of corporate resources; namely SCA’s corporate jet. Handelsbanken is one of SCA’s major shareholders. Said involvement led the Chairman of Handelsbanken Mr. Nyren to resign and was replaced by the CEO, Mr. Boman, who is candidate as Chairman at this AGM. It is considered that the Company should have discussed publicly appropriate use of corporate resources or acceptance of excessive gifts, which is however covered by their ethical guidelines. There seem to be insufficient checks and balances that could prevent such alleged improper use of resources from happening again. 9 Approve the dividend For The Board proposes a dividend of SEK 17.5 per share.
    [Show full text]
  • Dealing with Data: Cybersecurity in the COVID-19 Era Working Smarter and Safer Has Become an Industry Creed for Employee Welfare
    EEMJ_991MJ_991 FC.inddFC.indd 991991 88/7/20/7/20 33:43:43 PPMM Improves productivity Eliminates unplanned stops Increases employee safety — Condition monitoring For mechanical components The ABB AbilityTM Smart Sensor for mechanical products is an easy-to-use, wireless sensor which monitors the health of mounted bearings and gear reducers. The sensor provides warnings when health status declines, reducing the risk of unplanned downtime. In addition, connectivity and trend data allow maintenance to be planned proactively instead of reactively, and remote monitoring capabilities keep employees away from areas that are difficult or dangerous to access. Operate safely. Reduce downtime. Improve reliability. new.abb.com AEEMJ_992BMBJ_E99_2M IFC.inddIJF_CC.oinndddit i o 9992n9 M2 onitoring for Mechanical Components_0320.indd 1 788/3/20/1/3//20 99:542::5149 AAMPM AUGUST 2020 • VOL 221 • NUMBER 8 FEATURES Machines That Help Reduce Dilution The top narrow vein mining solutions on the market offer an increased power-to-weight ratio, lower ownership costs and higher productivity ...........28 Mineral Processing Titans Merge Stephan Kirsch, president of Metso Outotec’s new Minerals Business Area, discusses the next steps for the business and new opportunities ..................34 Refining Gold Processing E&MJ looks at designs and technologies that are making gold flowsheets more efficient and economic .........................................................................36 Dealing With Data: Cybersecurity in the COVID-19 Era Working smarter and safer
    [Show full text]
  • Appendix A:1
    Appendix A:1 Determination of the number of Directors and Deputy Directors to be elected and proposal for election of Directors and Deputies Number of Directors and Deputy Directors The Nomination Committee proposes that the Board of Directors shall comprise nine (9) Directors without Deputies. Board The Nomination Committee proposes re-election of the Directors Lars Westerberg, Bengt Andersson, Peggy Bruzelius, Börje Ekholm, Tom Johnstone, Anders Moberg, Gun Nilsson, Peder Ramel and Robert F. Connolly. The reason for not proposing new Board Members to be elected is that the Nomination Committee considers that the nine Board Members proposed by the Nomination Committee are very well suited for carrying out Husqvarna’s Board work over their coming term of office. The Nomination Committee proposes that Lars Westerberg is appointed chairman of the Board. Lars Westerberg Born 1948. M. Sc. Eng., MBA. Elected 2006. Member of the Remuneration Committee. President and CEO and Board Member of Autoliv Inc. Other major assignments: Board member of Haldex AB, Plastal Holding AB and SSAB. Previous positions: Senior management positions in Esab 1984–1994. President and CEO of Esab AB 1991. President and CEO of Gränges AB 1994. Holding in Husqvarna: 120,000 B-shares. Bengt Andersson Born 1944. Mech. Eng. President and CEO of Husqvarna AB Other major assignments: Board member of KABE AB, Chairman of Jönköping University Foundation, Sweden. Previous positions: Joined Electrolux in 1973. Sector manager in Facit-Addo 1976. Senior management positions within Electrolux Outdoor Products since 1979. Product-line Manager for Outdoor Products North America 1987. Product- line Manager for Forestry and Garden Products 1991, and Flymo 1996.
    [Show full text]
  • SSAB in 'Pole Position' in Green Steel Race with New Plant
    SSAB in ‘Pole Position’ in Green Steel Race With New Plant Hanna Hoikkala 3/24/2021 (Bloomberg) -- A Swedish joint venture that aims to remove fossil fuels from steelmaking is planning on establishing its first demonstration plant in 2026. Hybrit, an initiative run by steelmaker SSAB AB, iron ore producer LKAB and energy supplier Vattenfall AB, will locate the factory in the northern Swedish town of Gallivare, according to a statement. The demonstration plant will initially produce 1.3 million metric tons of fossil-free sponge iron, with a target to expand to 2.7 million tons by 2030, the companies said on Wednesday. That feedstock will be supplied to SSAB, among others, to help make fossil-free steel. Swedish Prime Minister Stefan Lofven described the announcement as “a huge industrial investment.” It shows “not only the whole of Sweden, but the whole world, that there is hope in climate change,” he said on social media. SSAB will also explore the prerequisites for converting to fossil-free steel production at its Lulea factory faster than planned under the Hybrit partnership. The company’s target of being the first to market with fossil-free steel remains in place, it said. The steelmaker’s Chief Executive Officer, Martin Lindqvist, told Bloomberg that it’s a positive development to see other business ventures now exploring this new type of production. “It is good for the climate,” he said of the development. “It also makes us on the margin even more confident that we have chosen the right path.” Analysts at Handelsbanken said in a note that the announcement keeps SSAB “in pole position” for the race to deliver green steel.
    [Show full text]
  • Annual Report 2001 Annual Report 2001
    31998_ASSA_Omslag_E_DS 02-03-14 13.25 Sida 1 ASSA ABLOY Annual Report 2001 Annual Report 2001 ASSA ABLOY AB (publ.) Postal Address: P.O. Box 70340, SE-107 23 Stockholm • Visiting Address: Klarabergsviadukten 90 Phone: +46 (0)8 506 485 00 • Fax: +46 (0)8 506 485 85 Registered No.: SE.556059-3575 • Registered Office: Stockholm, Sweden • www.assaabloy.com © Thierry Martinez 31998_ASSA_Omslag_E_DS 02-03-14 13.25 Sida 2 31998_ASSA_Fram_E_DS 02-03-14 13.12 Sida 1 Contents The year 2001 in brief 3 The President and CEO, Carl-Henric Svanberg 4 Group development 8 The ASSA ABLOY share 10 ASSA ABLOY and the lock industry 12 Strategy and financial objectives 14 Management philosophy 16 Environmental management philosophy 18 The trend towards higher security 20 ASSA ABLOY brand platform 22 ASSA ABLOY technology platforms 24 Integration Project – Volvo Ocean Race 26 Scandinavia 28 Finland 30 Central Europe 32 South Europe 34 United Kingdom 36 North America 38 South Pacific 42 New Markets 44 Hotel locks 48 Identification 49 Report of the Board of Directors 50 Consolidated income statement and cash flow statement 56 Consolidated balance sheet 57 Parent Company income statement and cash flow statement 58 Parent Company balance sheet 59 Accounting and valuation principles 60 Financial risk management 62 Notes 63 Audit report 72 ASSA ABLOY’s Board of Directors 73 ASSA ABLOY’s Group Management 74 Addresses 76 ASSA ABLOY / 2001 • 1 31998_ASSA_Fram_E_DS 02-03-14 13.12 Sida 2 The Annual General Meeting of ASSA ABLOY AB will be held at ‘Cirkus’, Djurgårdsslätten, Djurgården, Stockholm at 3 p.m.
    [Show full text]
  • CREDIT RESEARCH June 4, 2021, 11:31 CET Real Estate | Sweden
    [3,533 CREDIT RESEARCH June 4, 2021, 11:31 CET Real Estate | Sweden Diös No recommendation Heading for the Northern Lights MARKETING COMMUNICATION . A leader in stable and growing cities of northern Sweden . Strengthening credit profile . Handelsbanken has a mandate to issue bonds for Diös Leading market position in a growing, dynamic region Diös Fastigheter AB (Diös) has a market-leading position in 10 larger, growing cities in northern Sweden, as well as in Gävleborg County and Dalarna County. In our view, its property portfolio is well-diversified in terms of regional presence, property types and tenants, of which around 31% are related to government and municipalities, and 8% are residential rental properties. Based on data from Statistics Sweden and the regional municipalities, we expect the markets where Diös is active to continue to show healthy population and economic growth, which should in turn support the local property markets. About the company Strengthening credit profile We expect Diös to continue to strengthen its credit profile, including a sustained Profile: LTV of less than 55%, a lengthening of the debt maturity profile and an increased Diös Fastigheter AB, owns, manages and develops share of unsecured capital markets funding. Thanks to its cash-generative property commercial and residential properties, primarily in the larger cities of northern Sweden. The company was portfolio, we find that Diös’ credit metrics, such as debt-to-EBITDA and interest founded in 2005 and is headquartered in Östersund. coverage, are typically stronger than many of its Swedish real estate peers’. Total assets amounted to SEK 25bn as of March 31, 2021.
    [Show full text]
  • Our Operations Are Based on Our Own Methodology for Developing and Refining the Companies in Which Traction Is an Owner
    Our operations are based on our own methodology for developing and refining the companies in which Traction is an owner. ANNUAL REPORT 2009 Traction in brief raction is a publicly traded investment GOALS company with ownership interests in To achieve average annual growth of shareholders’ listed and unlisted companies. Our opera- equity of at least 25 percent. tions are based on our own methodology To create profitable growth in our wholly owned for developing and refining the compa- and partially owned companies. nies in which Traction is an owner. The To minimise the risk and increase the return on our Tprimary focus of the methodology is customer relation- projects. ships, capital flows and risk management. This metho- dology has evolved over Traction’s more than 35-year STRATEGY history. Traction does not focus on specific industries, To achieve Traction’s goals, the following are required: because our method is based on business acumen, which The ability to choose the right projects, in reality, the is applicable regardless of industry affiliation. Traction’s right partner – corporate managers. role as owner is based on an active and long-term enga- Project Managers who can provide corporate mana- gement, together with an entrepreneur or corporate ma- gers with the support and complementary expertise nagement. In addition hereto Traction conducts invest- they require to carry out the business project. ment operations aimed at achieving a good return on the Project Managers with varying expertise and back- Company’s capital. ground to cover the varying needs of each company. Project Managers with the ability to step in, when BUSINESS CONCEPT necessary, as corporate managers during transitional To apply Traction’s business development method in periods, until a new manager has been appointed.
    [Show full text]