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SSAB AB (SSABb.ST)

SSABb.ST on Stockholm Stock Exchange

31.22SEK
12:00pm EDT
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-1.04kr (-3.22%)
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32.26kr
Open
31.88kr
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31.99kr
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31.05kr
Volume
3,382,395
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3,534,161
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42.93kr
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31.05kr

Latest Key Developments (Source: Significant Developments)

Transformer Fire At SSAB Hameenlinna Mill
Tuesday, 12 Jun 2018 10:34am EDT 

June 12 (Reuters) - SSAB AB ::TRANSFORMER FIRE AT SSAB HÄMEENLINNA MILL.SAYS FIRE HAS BEEN EXTINGUISHED.SAYS A TRANSFORMER FIRE OCCURRED AT SSAB EUROPE HÄMEENLINNA MILL THIS AFTERNOON AND MILL WAS EVACUATED DUE TO SMOKE.SAYS THERE WERE NO INJURIES.SAYS ACCORDING TO A PRELIMINARY ESTIMATE, PRODUCTION WILL BE DOWN IN COLD ROLLING SECTION OF MILL FOR A FEW DAYS.SAYS GALVANIZED AND COLOR-COATED PRODUCTS WILL SOON BE ABLE TO BE PRODUCED AT A NORMAL SPEED, BUT COLD ROLLING WILL RUN AT A LIMITED CAPACITY INITIALLY.  Full Article

SSAB comments on impact of U.S. steel tariffs
Friday, 9 Mar 2018 02:04am EST 

March 9 (Reuters) - SSAB AB ::US STEEL TARIFFS HAVE TWOFOLD IMPACT ON SSAB.SAYS OUR AMERICAS DIVISION HAS A PRODUCTION CAPACITY OF 2.4 MILLION TONS OF STEEL AT OUR US MILLS IN IOWA AND ALABAMA. THESE VOLUMES ARE EXCLUDED FROM THE TARIFFS.SAYS US STEEL PRODUCTION IS SUPPLEMENTED WITH SPECIAL, HIGH-STRENGTH PRODUCTS FROM SWEDEN AND FINLAND THAT ARE NOT PRODUCED IN OUR NORTH AMERICAN PRODUCT LINES. IN 2017, THESE EXPORTS TOTALED AROUND 250,000 TONNES.SAYS ‍WE WILL INVESTIGATE IMPACT TO OUR BUSINESS AND DISCUSS WITH OUR CUSTOMERS BEST WAY TO GO FORWARD GIVEN YESTERDAY'S ANNOUNCEMENT​.SAYS OUR NORDIC EXPORTS INTO THE US ARE TRADED FAIRLY, FOLLOWING ESTABLISHED INTERNATIONAL RULES OF TRADE, AND WE HAVE ENJOYED A POSITIVE TRADE RELATIONSHIP FOR MANY YEARS.SAYS WE THEREFORE WILL BE ENGAGING WITH US GOVERNMENT OFFICIALS TO ADVOCATE FOR THE PRESERVATION OF THIS IMPORTANT US-NORDIC TRADE RELATIONSHIP..SAYS IF EXEMPTIONS ARE NOT GRANTED, WE WILL CONTINUE TO EVALUATE ALL ASPECTS OF OUR AMERICAN BUSINESS – FROM PRICING AND INVESTMENTS TO LOGISTICS AND OPERATIONS – TO ENSURE OUR BUSINESS REMAINS PROFITABLE AND BEST POISED FOR FUTURE GROWTH.  Full Article

Finland's Solidium Trims Stake In SSAB
Thursday, 1 Feb 2018 02:04am EST 

Feb 1 (Reuters) - Ssab Ab ::SOLIDIUM SAYS ‍HAS TODAY, 1 FEBRUARY 2018, PLACED 37 MILLION B SHARES IN SSAB IN AN ACCELERATED BOOKBUILT OFFERING TO INTERNATIONAL AND NORDIC INSTITUTIONAL INVESTORS AT A PRICE OF SEK 40 PER SHARE, RESULTING IN GROSS PROCEEDS OF SEK 1.48 BILLION​.SUCCESSFUL PLACEMENT BY SOLIDIUM OF SSAB SHARES.  Full Article

SSAB revises financial targets
Thursday, 14 Dec 2017 11:30am EST 

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 11:48am EST 

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 07:00am EST 

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 01:41am EDT 

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

Ruukki supplies steel structures for sixth longest bridge in Finland
Thursday, 7 Sep 2017 03:09am EDT 

Sept 7 (Reuters) - SSAB :Ruukki supplies steel structures for sixth longest bridge in Finland.  Full Article

SSAB Q2 operating profit tops forecast
Thursday, 20 Jul 2017 01:30am EDT 

July 20 (Reuters) - Ssab AB :Q2 sales were SEK 17,115 (14,471) million.Q2 operating profit was SEK 1,205 (592) million.Reuters poll: SSAB Q2 operating profit seen at SEK 1,038 million, sales at 17.1 billion.Says overall, SSAB’s shipments are expected to follow the normal seasonal pattern during the third quarter and to be somewhat lower than during the second quarter.Says it is anticipated that overall the realized prices by ssab during the third quarter will be relatively unchanged compared with prior quarter.Says both SSAB Special Steels and SSAB Europe will carry out planned maintenance outages during the third quarter, expected to have a total impact of sek 350 million (excluding lost margins) on earnings..Says in North America, demand for heavy plate is anticipated to be relatively stable during the third quarter, with some seasonal slowdown.Says in Europe, demand is expected to be good during the third quarter, however with the normal seasonal slowdown.Says it is expected that the underlying demand for high-strength steel will continue to show positive development during the third quarter.  Full Article

SSAB, LKAB and Vattenfall form JV for fossil-free steelmaking process
Wednesday, 28 Jun 2017 02:00am EDT 

June 28 (Reuters) - SSAB AB :SSAB, LKAB and Vattenfall form joint venture company for fossil-free steel.Says three companies will each own one third of company, which will seek to develop a steelmaking process that emits water instead of carbon dioxide.  Full Article

UPDATE 1-Steelmaker SSAB Q2 lags forecast, Americas weaker than expected

STOCKHOLM, July 20 Swedish steelmaker SSAB missed second-quarter operating earnings expectations on Friday due to a smaller-than-expected boost from soaring U.S steel prices.