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SSAB AB (SSABb.ST)

SSABb.ST on Stockholm Stock Exchange

40.24SEK
23 Feb 2018
Change (% chg)

-0.15kr (-0.37%)
Prev Close
40.39kr
Open
40.40kr
Day's High
40.72kr
Day's Low
40.12kr
Volume
3,001,018
Avg. Vol
4,396,139
52-wk High
41.66kr
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27.56kr

Latest Key Developments (Source: Significant Developments)

SSAB Q4 operating profit lags forecast, proposes first dividend since 2012
Friday, 26 Jan 2018 

Jan 26 (Reuters) - Ssab AB ::RESULTS FOR 2017: IMPROVED EARNINGS AND STRONG CASH FLOW, NET DEBT REDUCTION TARGET EXCEEDED.SAYS ‍BOARD PROPOSES A DIVIDEND OF SEK 1.00 PER SHARE​.Q4 ‍OPERATING PROFIT WAS SEK 843 (107) MILLION​.Q4 ‍SALES WERE SEK 17,017 (14,442) MILLION​.REUTERS POLL: SSAB Q4 OPERATING PROFIT SEEN AT SEK 1,013 MILLION, SALES AT 15.7 BILLION, DIVIDEND AT 0.90 SEK/SHARE.CEOSAYS ‍OVERALL, I HAVE A POSITIVE VIEW OF 2018​.SAYS T IS ANTICIPATED THAT OVERALL THE PRICES REALIZED DURING THE FIRST QUARTER BY SSAB’S THREE STEEL DIVISIONS WILL BE SOMEWHAT HIGHER COMPARED WITH THE FOURTH QUARTER OF 2017.SAYS H THIS IMPACT WILL TO A CERTAIN EXTENT BE COUNTERACTED BY HIGHER RAW MATERIAL COSTS.SAYS HAS ‍BUILT A STRONG PLATFORM TO CONTINUE TO DRIVE INITIATIVES FOR PROFITABLE GROWTH.​.SAYS IN NORTH AMERICA, DEMAND FOR HEAVY PLATE IS EXPECTED TO BE GOOD DURING THE FIRST QUARTER OF 2018.SAYS IN EUROPE, DEMAND FOR STRIP AND HEAVY PLATE IS EXPECTED TO REMAIN GOOD.SAYS IT IS ANTICIPATED THAT THE UNDERLYING DEMAND FOR HIGH-STRENGTH STEEL WILL CONTINUE TO SHOW POSITIVE DEVELOPMENT.SAYS SHIPMENTS BY SSAB EUROPE AND SSAB AMERICAS DURING THE FIRST QUARTER OF 2018 ARE EXPECTED TO BE SOMEWHAT HIGHER THAN DURING THE FOURTH QUARTER OF 2017, WHEREAS SHIPMENTS BY SSAB SPECIAL STEELS ARE EXPECTED TO BE STABLE.SAYS ‍POSITIVE TREND IN DEMAND IS EXPECTED TO CONTINUE DURING Q1.​.SAYS THERE ARE NO MAJOR PLANNED MAINTENANCE OUTAGES DURING THE FIRST QUARTER OF 2018.  Full Article

SSAB revises financial targets
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - SSAB::SSAB REVISES FINANCIAL TARGETS.SAYS ‍DIVIDENDS WILL CONSTITUTE 30-50% OF PROFIT AFTER TAX (EARLIER 50% OVER A BUSINESS CYCLE)​.SAYS ‍NET DEBT/EQUITY RATIO WILL NOT NORMALLY EXCEED 35% (EARLIER LONG-TERM RATIO OF 30%)​.SAYS ‍SSAB'S GOAL TO ACHIEVE INDUSTRY-LEADING PROFITABILITY REMAINS UNCHANGED.SAYS THIS IS DEFINED AS PROFITABILITY MEASURED AS THE HIGHEST EBITDA MARGIN AMONG THE FOLLOWING COMPARABLE PEERS; ARCELORMITTAL, AK STEEL, NUCOR, SALZGITTER, TATA STEEL EUROPE, THYSSENKRUPP AND US STEEL​.​.  Full Article

SSAB says reaches settlement for breakdown in Oxelosund‍​
Wednesday, 13 Dec 2017 

Dec 13 (Reuters) - Ssab Ab ::SAYS HAS REACHED A FINAL SETTLEMENT OF AROUND SEK 315 MILLION WITH INSURANCE COMPANY AND SUPPLIER IN COMPENSATION FOR BREAK DOWN THAT OCCURRED IN OXELÖSUND IN DECEMBER 2016​.SAYS ‍SETTLEMENT WILL HAVE A POSITIVE IMPACT OF AROUND SEK 265 MILLION ON RESULT FOR Q4 OF 2017​.  Full Article

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

Nov 27 (Reuters) - SSAB ::SSAB TO START USING LIQUEFIED NATURAL GAS IN RAAHE.  Full Article

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

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European share rebound loses steam, steel stocks gain on U.S. move

MILAN European shares dipped in choppy trade on Monday as a poor update from Reckitt Benckiser hit consumer staples, though steel-makers rose after the United States outlined proposals for hefty import curbs.