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SSAB AB (SSABb.ST)

SSABb.ST on Stockholm Stock Exchange

25.58SEK
19 Jul 2019
Change (% chg)

-0.17kr (-0.66%)
Prev Close
25.75kr
Open
24.97kr
Day's High
25.81kr
Day's Low
24.36kr
Volume
6,436,607
Avg. Vol
4,050,189
52-wk High
37.45kr
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24.01kr

Latest Key Developments (Source: Significant Developments)

SSAB's Ruukki Construction To Divest Building Systems
Friday, 19 Jul 2019 

July 19 (Reuters) - SSAB AB ::RUUKKI CONSTRUCTION TO DIVEST BUILDING SYSTEMS.BUILDING SYSTEMS CONSTITUTES AROUND 20% OF RUUKKI CONSTRUCTION'S TOTAL SALES..DIVESTMENT WILL ALLOW RUUKKI CONSTRUCTION TO FULLY FOCUS ON PROFITABLE GROWTH IN ITS PRODUCT BUSINESSES WITHIN RESIDENTIAL ROOFING AND BUILDING COMPONENTS.TRANSACTION IS EXPECTED TO CLOSE BY END OF 2019.BUSINESS NOW BEING DIVESTED HAD SALES OF AROUND SEK 1.1 BILLION IN 2018 WITH A BREAKEVEN RESULT ON EBIT-LEVEL.TRANSACTION WILL HAVE NO IMPACT ON RESIDENTIAL ROOFING BUSINESS OR BUILDING COMPONENTS BUSINESS, WHICH FOCUSES ON BUILDING PRODUCTS AND SERVES PARTLY SAME CUSTOMERS..BUILDING SYSTEMS EMPLOYS SOME 500 PERSONS, WHO WILL TRANSFER TO SERVICE OF NEW OWNER.  Full Article

SSAB AB Q2 Operating Profit Falls To SEK 1.32 Bln
Friday, 19 Jul 2019 

July 19 (Reuters) - SSAB AB ::REPORT FOR THE SECOND QUARTER 2019: MAJOR RESULT IMPROVEMENT IN SSAB AMERICAS, DECLINE IN SSAB EUROPE.Q2 SALES WERE SEK 20,654 (19,263) MILLION.Q2 OPERATING PROFIT WAS SEK 1,316 (1,630) MILLION.Q2 EARNINGS PER SHARE WERE SEK 0.98 (1.27).DEMAND FOR SSAB SPECIAL STEELS WAS GOOD DURING QUARTER.HIGHER REALIZED PRICES WERE LARGELY COUNTERACTED BY HIGHER IRON ORE COSTS.DEMAND IN EUROPE WEAKENED DURING Q2 AND SSAB EUROPE'S SHIPMENTS WERE DOWN COMPARED TO LAST YEAR.THIS WAS PRIMARILY DUE TO WEAKER DEMAND FROM AUTOMOTIVE INDUSTRY.SHARP RISE IN IRON ORE PRICES AND WEAKER STEEL PRICES HAVE RESULTED IN EXCEPTIONAL PRESSURE ON MARGINS ON EUROPEAN MARKET.Q2 OPERATING PROFIT FOR SSAB AMERICAS ROSE TO SEK 872 (365) MILLION. THIS IMPROVEMENT WAS DRIVEN BY SIGNIFICANTLY HIGHER REALIZED PRICES AND LOWER SCRAP METAL PRICES COMPARED TO Q2 LAST YEAR.THERE IS SOME UNCERTAINTY AS TO HOW BUSINESS CYCLE WILL DEVELOP LOOKING AHEAD.WEAKER STEEL PRICES ON OUR HOME MARKETS, EUROPE AND USA, IMPLY A CAUTIOUS SENTIMENT AT DISTRIBUTORS AND DEMAND IS EXPECTED TO BE SEASONALLY WEAKER DURING Q3.CURRENT STAFFING LEVEL IS ALIGNED WITH A RELATIVELY HIGH PRODUCTION RATE, WITH A LARGE NUMBER OF TEMPORARY EMPLOYEES, WHICH GIVES US FLEXIBILITY WHEN MARKET SLOWS DOWN.DURING Q3, PRODUCTION VOLUME WILL BE LOWER AND NUMBER OF TEMPORARY EMPLOYEES WILL BE REDUCED ACCORDINGLY.OUR STRONG BALANCE SHEET GIVES US A SOUND BASIS TO CONTINUE TO DEVELOP COMPANY, REGARDLESS OF BUSINESS CONDITIONS.  Full Article

Ruukkiconstruction To Become A Majority Shareholder In Piristeel Oy
Wednesday, 20 Feb 2019 

Feb 20 (Reuters) - SSAB AB ::RUUKKICONSTRUCTION TO BECOME A MAJORITY SHAREHOLDER IN PIRISTEEL OY.SAYS SSAB'S SUBSIDIARY RUUKKI CONSTRUCTION HAS AGREED TO ACQUIRE A MAJORITY HOLDING (67%) IN FINNISH COMPANY PIRISTEEL OY.SAYS PIRISTEEL OY'S SALES IN 2018 WERE AROUND SEK 200 MILLION.  Full Article

Modernization Of Pickling Line Entry Section Completed At SSAB Hämeenlinna
Thursday, 13 Dec 2018 

Dec 13 (Reuters) - SSAB AB ::MODERNIZATION OF PICKLING LINE ENTRY SECTION COMPLETED AT SSAB HÄMEENLINNA.Investment of some SEK 370 million included the mechanical, electrical and automation equipment as well as new electrical and automation premises, an entry section control room and scale dust removal devices.  Full Article

SSAB And Kemppi Create A Joint Digi Solution To Speed Up The Welding Process
Friday, 9 Nov 2018 

Nov 9 (Reuters) - SSAB AB ::SSAB AND KEMPPI CREATE A JOINT DIGI SOLUTION TO SPEED UP THE WELDING PROCESS.  Full Article

SSAB's Tibnor to buy Danish Sanistal's steel distribution business
Friday, 9 Nov 2018 

Nov 9 (Reuters) - SSAB AB ::TIBNOR TO ACQUIRE SANISTÅL'S STEEL DISTRIBUTION BUSINESS.SAYS STEEL DISTRIBUTION BUSINESS NOW BEING ACQUIRED HAD SALES OF AROUND SEK 1.8 BILLION IN 2017.SAYS BASED ON ACQUISITION, SSAB AND TIBNOR EXPECT ANNUAL SYNERGIES OF APPROXIMATELY SEK 50 MILLION TO BE REALIZED WITHIN THREE YEARS.SAYS TIBNOR IS ACQUIRING SANISTÅL'S STEEL DISTRIBUTION BUSINESS AS AN ASSET DEAL AT NET VALUE OF APPROXIMATELY SEK 630 MILLION.THE ACQUISITION IS EXPECTED TO BE EARNINGS AND CASH FLOW ACCRETIVE FROM CLOSING.  Full Article

SSAB To Invest SEK 1 Bln in Alabama Steel Plant
Friday, 26 Oct 2018 

Oct 26 (Reuters) - SSAB AB ::SSAB TO INVEST IN INCREASED Q&T STEEL PRODUCTION CAPACITY.SAYS TO INVEST A TOTAL OF AROUND SEK 1 BILLION IN SSAB AMERICAS' STEEL MILL IN MOBILE, ALABAMA TO INCREASE PRODUCTION CAPACITY FOR QUENCHED AND TEMPERED (Q&T) STEELS.SAYS INVESTMENTS WILL TAKE PLACE DURING 2019-2021 AND WILL INCREASE ANNUAL CAPACITY OF Q&T IN MOBILE FROM 300,000 TONNES TO 400,000 TONNES.SAYS TAKING INTO ACCOUNT COST SAVINGS, PAYBACK TIME IS ESTIMATED TO BE LESS THAN FOUR YEARS.  Full Article

SSAB Europe to invest SEK 300 mln over 2 years to improve efficiency of its tube production
Friday, 5 Oct 2018 

Oct 5 (Reuters) - SSAB AB ::SSAB EUROPE INVESTS IN THE TUBE PRODUCTION AND IMPROVES EFFICIENCY.SAYS SSAB EUROPE WILL INVEST SEK 300 MILLION OVER A 2-YEAR PERIOD TO IMPROVE EFFICIENCY OF ITS TUBE PRODUCTION.SAYS IN SAME CONTEXT, TUBE BUSINESS WILL BE CENTRALIZED TO SECURE LONG-TERM COMPETITIVENESS.SAYS SSAB EUROPE AIMS TO INCREASE SALES VOLUMES OF PREMIUM PRODUCTS, WHICH ARE MORE PROFITABLE THAN STANDARD PRODUCTS.SAYS AS A RESULT OF RESTRUCTURING, LAPPOHJA TUBE MILL WILL BE CLOSED GRADUALLY BY END OF 2020.  Full Article

Johnny Sjöström To Be New Head Of SSAB Special Steels
Wednesday, 26 Sep 2018 

Sept 26 (Reuters) - SSAB AB ::JOHNNY SJÖSTRÖM TO BE NEW HEAD OF SSAB SPECIAL STEELS.HE WILL JOIN SSAB FROM UDDEHOLM, WHERE HE HAS BEEN CEO SINCE 2014.SAYS HE SUCCEEDS PER OLOF STARK, WHO WILL RETIRE IN 2019.  Full Article

SSAB Issues Bonds Amounting EUR 150M
Thursday, 30 Aug 2018 

Aug 30 (Reuters) - SSAB AB ::SSAB ISSUES BONDS AMOUNTING EUR 150M.SAYS ISSUES BONDS AMOUNTING TO EUR 150M WITH A TENOR OF 5 YEARS FOR GENERAL CORPORATE PURPOSES.  Full Article

Steelmaker SSAB's second-quarter profit drops as Europe weighs

STOCKHOLM Swedish steelmaker SSAB reported a 19% drop in second-quarter operating profit on Friday as weak profitability in Europe, its biggest market, overshadowed more solid development in the United States.