Finland-based steelmaker Ruukki has issued its financial results for the second quarter and the first half of 2013, reporting an operating profit of €17 million in the second quarter, increasing 70 percent year on year. Net sales revenues in the given quarter amounted to €633 million, decreasing by eight percent year on year. The company's order intake decreased by nine percent to €644 million in the given period, compared to the second quarter of the previous year.
During the first six months of 2013, Ruuki registered an operating profit of €21 million, compared to operating loss of €1 million in the corresponding period of the previous year. In the given period, the company's sales revenues amounted to €1.22 billion, down 8.7 percent year on year, while the order intake decreased by eight percent year on year to €1.23 billion.
According to Ruukki, economic development was weak in the euro zone also during the second quarter of the year and Europe was in recession. Economic development continued to show regional differences. The situation in Europe is difficult and it is hard to see any basis for growth during the second half of the year either. The emerging markets and the United States are forecast to continue maintaining global growth despite growing uncertainty, especially with regard to China's ability to achieve its growth forecasts. Concerning Ruukki's most important markets, Sweden and Russia are expected to show better development than other markets. The situation in Finland gives particular cause for concern because we have lost much export manufacturing industry and the change is structural rather than a question of business cycles.
