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SSAB AB (SSABa.ST)

SSABa.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

SSAB gets funding of EUR 2 mln for product development from Finnish innovation agency
4:30am EDT 

May 29 (Reuters) - SSAB ::Says has received funding approaching EUR 2 million for product and process development from Tekes - Finnish funding agency for innovation.The funding will be used to develop automotive steels and steels suitable for Arctic conditions.  Full Article

Steel firm SSAB's Q1 operating profit tops forecast
Friday, 21 Apr 2017 01:30am EDT 

April 21 (Reuters) - SSAB AB :Report for the first quarter of 2017: solid earnings improvement driven by SSAB Europe.Q1 sales were SEK 15,739 (12,964) million.Q1 operating profit/loss was SEK 702 (-193) million.Reuters poll: SSAB Q1 operating profit seen at SEK 237 million, sales at 15.0 billion.Says overall, SSAB’s shipments are expected to be somewhat higher during the second quarter than during the first quarter.Says it is anticipated that prices realized by SSAB during the second quarter will increase compared to prior quarter, however mitigated by increased raw material costs.Says in North America, demand for heavy plate both from end customers and distributors is anticipated to be good during the second quarter.Says in Europe, demand is likewise expected to be good during the second quarter, with no major changes expected in either end customer or distributor stock levels.Says it is anticipated that import volumes into North America will remain lower than the same period a year earlier, whereas in Europe no major change in import volumes is expected.Says it is expected that the underlying demand for high-strength steels will show positive development during the second quarter.Says second quarter shipments will not to any larger extent be impacted by the breakdown in the rolling mill in Oxelosund that occurred in the end of 2016, as the restart in february went according to plan.Expects Q2 costs for maintenance shutdowns on 250 million SEK.  Full Article

MultiDocker Cargo Handling establishes cooperation with SSAB
Thursday, 30 Mar 2017 08:37am EDT 

MULTIDOCKER CARGO HANDLING AB :ESTABLISHES COOPERATION WITH SSAB.  Full Article

SSAB says Swedish Energy Agency invest in carbon-dioxide-free industry initiative
Monday, 27 Feb 2017 03:00am EST 

SSAB AB : The Swedish Energy Agency is investing in a carbon-dioxide-free steel industry . Says Today the agency passed a resolution to finance a 4-year long research project for SEK 102 million . Says research project has been allocated 102 million Swedish crowns, with The Swedish Energy Agency providing SEK 56 million of this amount and the three companies contributing the remaining SEK 46 million. .Says at same time, three companies behind initiative, SSAB, LKAB, and Vattenfall, have decided to form a corporate joint venture to spur on this initiative.  Full Article

SSAB says Oxelosund restart pushed back until early February
Tuesday, 10 Jan 2017 12:51am EST 

SSAB AB : Oxelosund restart pushed back until the beginning of February . Says net production and delivery loss is estimated to total around 70,000 tonnes, which will impact the fourth quarter of 2016 and the first quarter of 2017, with most of the loss impacting the first quarter .It was earlier estimated that the net production and delivery loss would total around 40,000 tonnes.  Full Article

SSAB says breakdown at Oxelosund plant will impact Q4 2016, Q1 2017
Tuesday, 20 Dec 2016 09:00am EST 

Ssab Ab : Production breakdown in Oxelösund to result in further delay . SSAB says unplanned outage will be longer than earlier announced . SSAB says will impact result in q4 of 2016 and q1 of 2017 . SSAB says ssab special steels now plans to restart rolling mill in mid-january . SSAB says net production and delivery loss is expected to total around 40,000 tonnes .The initial estimate, communicated on December 16, was that the breakdown would imply a production and delivery loss totaling around 25,000 tonnes..  Full Article

SSAB invests just over SEK 500 mln in Nordic operations
Monday, 31 Oct 2016 07:37am EDT 

Ssab Ab : SSAB invests in its Nordic operations . Says will invest more than 500 million Swedish crowns ($55.50 million) in its Nordic operations to support automotive growth strategy, increased production stability and reduced energy consumption . Will invest SEK 370 million to modernize the first section of the pickling line at the Hämmeenlinna Works in Finland, to support automotive growth strategy and secure the stable and long-term production of coated strip products . In Lulea, Sweden, an investment of SEK 156 million will be made in a new blower for hot metal production .Says investments are a part of the already communicated capital expenditure program. The projects are planned to start towards the end of 2016.  Full Article

SSAB Q2 core profit beats forecast
Friday, 22 Jul 2016 01:41am EDT 

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 03:30am EDT 

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 10:38am EDT 

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

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