Essentially the reasons behind today’s improved outlook comes down to better visibility and a belief that the remainder of the year won’t be as volatile or as poor as last year – when demand failed to pick up follow the summertime lull in Europe. Hoyer explained that Ruukki’s operations are currently focussed on the production of speciality alloys, which have more stable niche markets. As such he says Ruukki’s operations are mainly being driven by demand for specific alloys, and production is being guided by the group’s sales team. Ruukki reported revenues in the first six months of 2012 of €78 million versus €79.3 million in the first half of last year, while earnings increased to €6.7 million compared with €5.1 million in the corresponding period of 2011. In the second quarter of this year production decreased by 20.1 percent to 74,181 tonnes tonnes, mainly due to the shut-down of two of the four furnaces of the Mogale alloys plant in South Africa in response to power constraints in the country and an electricity buyback programme by power group Eskom. Ruukki’s cash flow from operations was much improved at 13.5 million, compared with minus €5.8 million in the same period of last year, and at the end of the year it had €45 million.
9 Feb '13
Ruukki (LON:RKKI) today upgraded its outlook for the remainder of the year as it said the previously volatile ferrochrome market is stabilising. It said full-year revenues are now expected to be in-line with last year. This marks a notable turnaround after it warned of uncertain conditions in the first quarter of the year. In a conference call today chief executive Thomas Hoyer said: “The recent volatility in ferrochrome prices has been huge, but when you look at realised prices in the physical market this volatility is decreasing,” he said. “It seems that the market is finding a bottom in terms of pricing, though it is still a weak market. And we are looking forward with slightly more positivity.” He stressed, however, that the seasonally-affected third quarter is always weaker than the rest of the year. And unlike other ferrochrome producers, Ruukki is not expecting, or banking on, a significant rally in prices the fourth quarter.
17 Feb '12
RUUKKI GROUP PLC'S 2011 FINANCIAL STATEMENTS BU... 12:00 London, 14:00 Helsinki, 17 February 2012 - Ruukki Group Plc, Stock Exchange Release RUUKKI GROUP PLC'S 2011 FINANCIAL STATEMENTS BULLETIN ADVISORY Ruukki Group Plc ("Ruukki" or the "Company") (LSE: RKKI, OMX: RUG1V) will publish its 2011 Financial Statements Bulletin on Friday 24 February at 09.00 Finnish time, 07.00 UK time. The Financial Statements Bulletin will be available on the Company's website www.ruukkigroup.com after publication. Investor Conference Call Management will host an investor conference call in English at 14.00 Finnish time, 10.00 UK time. Please dial-in at least 10 minutes beforehand, quoting the reference: 912604.
This the same mob that were in negotiation with SLV a couple of years ago?
20 Dec '11
RUUKKI GROUP ENTERS INTO NEW STANDBY LOAN FACILITY AGREEMENT WITH KERMAS Ruukki Group Plc ("Ruukki" or the "Company") (LSE: RKKI, OMX: RUG1V) wishes to announce it has entered into a new US$55 million standby loan facility agreement with Kermas Ltd ("Kermas"), which replaces the current facility for the same amount that is restricted to working capital purposes only and expires on 31 December 2011. The new standby facility is less restrictive and will provide Ruukki with additional financing options, over and above its current cash reserves, as it pursues its growth strategy to increase its ore resources and expand production. Due to its 29% shareholding, Kermas is a Related Party (as defined by the Listing Rules) of the Company. In accordance with the Listing Rules, the facility has been entered into on normal commercial terms on an unsecured basis and therefore no prior shareholder approval is required. This loan facility is available until 31 December 2014 and the loan term will be from the first draw-down until 31 December 2015. RUUKKI GROUP PLC Thomas Hoyer CEO For additional information, please contact:
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.