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SSABa.ST on Stockholm Stock Exchange

8 Dec 2017
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Latest Key Developments (Source: Significant Developments)

SSAB to start using liquefied natural gas in Raahe mill
Monday, 27 Nov 2017 


SSAB Q3 operating profit tops forecast, sees stable Q4 shipments
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - SSAB AB :Q3 ‍sales were SEK 16,188 (13,477) million​.Q3 ‍operating profit was SEK 1,089 (707) million.Reuters poll: SSAB Q3 operating profit seen at SEK 961 million, sales at 15.6 billion​.SSAB says ‍underlying demand is considered to be at a good level, albeit with a seasonally weaker product mix during Q4​.Says overall, SSAB’s shipments during the fourth quarter are expected to be in line with those of the third quarter‍​.SSAB AB says ‍in North America, shipments increased during quarter​.Says it is anticipated that overall the prices realized by SSAB during the fourth quarter will be somewhat lower compared with prior quarter.Says this is attributable to SSAB Americas and to a seasonally weaker mix in SSAB Europe.SSAB says ‍market prices for heavy plate decreased during quarter and short-term outlook is somewhat uncertain.​.SSAB says ‍target to reduce net debt by SEK 10 billion between end of Q1 of 2016 and end of 2017 is progressing according to plan​.Says SSAB Europe will carry out planned maintenance outages during Q4, these outages are expected to have an impact of SEK 180 million (excluding lost margins) on earnings..Says in North America, demand for heavy plate is anticipated to be stable during the fourth quarter.Says in Europe, demand is expected to be good..  Full Article

SSAB Q4 operating profit lags forecast
Wednesday, 15 Feb 2017 

SSAB AB : SSAB Q4 sales were SEK 14,442 (12,499) million . SSAB Q4 operating profit/loss was SEK 107 (-878) million . Says board proposes that no dividend will be paid for 2016 . Says in North America Q4 was adversely affected by lower realized prices . Says market prices, however, rose during quarter, which is expected to impact positively on SSAB's realized prices and margins from Q1 of 2017 onwards . Reuters poll: SSAB Q4 operating profit seen at SEK 244 million, sales at 13.4 billion . Lower profit in Q4 vs Q3 largely due to Special Steels, where there was a production breakdown in Oxelosund . Says convinced that we will continue to strengthen our position during 2017 . Says in North America, demand for heavy plate is anticipated to be good during the first quarter of 2017 and distributors are expected to increase purchases in the wake of low stock levels . Says in Europe, demand is similarly anticipated to be good during the first quarter; although no major changes in either end customer or distributor stock levels are expected . Says it is anticipated that import volumes into North America will gradually decline as a result of import duties, although in Europe no major change in import volumes is expected . Says it is expected that the underlying demand for high-strength steels will be relatively unchanged during the first quarter, even though the production breakdown in Oxelosund will impact shipments negatively during the quarter.  Full Article

SSAB Q2 core profit beats forecast
Friday, 22 Jul 2016 

SSAB : SSAB AB Q2 operating profit was SEK 592 (292) million and excluding items affecting comparability was SEK 668 (301) million . Q2 sales were SEK 14,471 (15,303) million . Reuters poll: Q2 adjusted EBIT seen at SEK 368 million, sales at 14.62 billion . Says during Q3, we expect stable underlying demand, although reflecting normal seasonal slowdown . Says well on way to deliver on our total cost savings target, which is to have reduced cost level by SEK 2.8 billion on an annual basis in 2017 . Says import volumes to Europe are expected to continue to be lower during the third quarter than at the end of 2015 and beginning of 2016 . Says overall, SSAB’s shipments during the third quarter are expected to be lower than during the second quarter, but at a higher price level . Says synergy program was completed at end of Q2, with significantly more synergies realized than SEK 1.0-1.35 billion we had originally communicated . Says in North America, demand for heavy plate is expected to be somewhat lower during the third quarter, mainly due to the normal seasonal slowdown . Says likewise in Europe, demand is expected to be seasonally weaker during the third quarter.  Full Article

SSAB says concludes negotiations to cut workforce in Nordics
Thursday, 2 Jun 2016 

SSAB AB : SSAB concludes negotiations to reduce workforce in its nordic operations . Says negotiations just concluded will result in loss of 98 permanent front-line jobs in Oxelosund . Says in addition to this, number of temporary employees will be reduced by 85 persons .Says as communicated earlier, workforce will also be reduced by a total of around 50 office jobs in finland and around 260 in sweden.  Full Article

BRIEF-SSAB rights issue euro conversion is set at 1.13 EUR per share
Tuesday, 31 May 2016 

Ssab Ab : The subscription price converted to eur in ssab's rights issue is eur 1.13 per share .The currency conversion rate has been determined and resulted in an amount of EUR 1.13 per share. The conversion rate for the subscription price is based on the European Central Bank EUR/SEK reference rate of 9.2910, which was published at 3.00 pm CEST on May 31, 2016..  Full Article

SSAB sets subscription price to SEK 10.50/share in rights issue
Tuesday, 24 May 2016 

SSAB AB : Says to launch a rights issue of approximately SEK 5 billion with preferential rights for existing shareholders . Says shareholders in SSAB are entitled to subscribe for 7 new B shares for 8 old A and/or B shares held . Says subscription price is SEK 10.50 per share . Says SSAB's two largest shareholders, Industrivarden 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 . Says for the remaining amount, a syndicate of banks: Crédit Agricole Corporate and Investment Bank, Handelsbanken Capital Markets, Nordea Bank and Swedbank have entered into an underwriting commitment, subject to customary terms and conditions .Says Swedbank Robur and LKAB have, whom together represent 4.4 per cent of the capital and 5.5 per cent of the votes in the Company, expressed their support for the rights issue and their intention to vote in favour of the rights issue at the EGM on May 27, 2016.  Full Article

SSAB AB says number of Swedish job cuts roughly as estimated - Reuters News
Wednesday, 27 Apr 2016 

SSAB AB:Says negotiations concluded regarding personnel downsizing among office workers in SSAB's swedish operations.The result of the negotiations will be a reduction of 262 office workers in Sweden.Says when the negotiations began, it was estimated that 265 office workers in Sweden would be reduced.Says downsizing will be carried out through terminations, retirement and natural attrition.Says negotiations have begun regarding front line workers in Oxelosund, and they will be concluded and communicated in May.SSAB announced in February that it had begun negotiations in order to reduce the number of employees in its Nordic operations.  Full Article

SSAB AB launches a rights issue
Friday, 22 Apr 2016 

SSAB AB:Resolved to launch a rights issue of class B shares of around 5 billion crowns.Shareholders Industrivärden and Solidium have undertaken to subscribe for their pro rata shares of rights issue.Swedbank Robur and LKAB, together representing 4.4 per cent of the capital and 5.5 per cent of the votes have expressed their support for the rights issue and their intention to vote in favour of the rights issue at the extraordinary general meeting.  Full Article

SSAB AB says concludes Finnish labour talks, to cut 47 jobs
Wednesday, 6 Apr 2016 

SSAB AB:Completion of SSAB's negotiations to reduce workforce in its Finnish operations.Says as a result of the negotiations, a total of 47 office jobs will be cut in Finland.  Full Article

Finnish electrical workers plan one-week strike

HELSINKI, Oct 18 The Finnish Electrical Workers' Union said on Wednesday it was planning a one-week strike at companies including steel makers and elevator firms due to a dispute over wage-setting and collective agreements in the industry.