Rautaruukki has reported that its business activity in commercial and industrial construction was low throughout the report period. Net sales of infrastructure construction declined clearly less than those of other construction sectors. Market conditions for residential roofing products during 2009 were much weaker than in earlier years. Delivery volumes in the engineering industry fell sharply, especially in the lifting, handling and transportation equipment industry. Except for the fourth quarter, deliveries to equipment manufacturers in the energy industry, both in wind and diesel power plants, continued at a good level compared to other customer groups. End-customer demand for steel products was weak and delivery volumes were exceptionally low. Sales of colour-coated and galvanised strip products were better than those of plate products. Sales of special steel products decreased more than those of other product groups because of low activity in the main industrial sectors that use these products, such as the heavy engineering industry. The operational excellence programme, Boost, progressed faster than planned and the company’s cost structure improved noticeably. The largest single benefits were achieved from the centralisation of steel service centre operations in the Nordic countries, improved supply chain efficiency and from efficiency programmes in the construction business in Russia and Poland. The annualised impact of efficiency projects initiated during 2009 is around EUR 90 million. Working capital of EUR 317 million was released and the consolidated balance sheet remained healthy.