SSAB AB A

SSAB is a supplier of high strength steels with products comprising various qualities and dimensions within wear steels and structural steels. Co.'s solutions also include services, from concept to finished delivery. SSAB Wear Services also provides advice, repairs, and sales of spare parts to the aftermarket. The business is organized into three business areas; SSAB Americas, SSAB EMEA and SSAB APAC as well as the subsidiary, Tibnor, which is a steel distributor in the Nordic region. SSAB EMEA consist of Europe, the Middle East and Africa; SSAB Americas of North and Latin America; SSAB APAC of Asia, Australia and New Zealand and Tibnor of steel and metal distribution in northern Europe.
  • TickerSSAB A
  • ISINSE0000171100
  • ExchangeNasdaq Nordic Stockholm
  • SectorIndustrial Metals & Mining
  • CountrySweden
Baptiste Lebacq

ODDO BHF Small & MIDCAP MORNING NEWS - 07/23/2020

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Baptiste Lebacq

ODDO BHF Small & MIDCAP MORNING NEWS - 23/07/2020

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Alain William

SSAB : Fine resilience in Q2 and improvement expected in Q3. Intrinsic qualities underestimated. Buy vs Neutral.

>Improvement in final demand in prospect in Q3 - In a still highly uncertain climate, the management said that it expects a sequential decline in shipments amplified by the seasonal pattern for SSAB Europe (15% of 2019 EBITDA) and SSAB Special Steels (33% of 2019 EBITDA) while those for SSAB Americas (45% of 2019 EBITDA) are expected to be stable. The management appear fairly constructive on prices, which they expect to be stable for the Americas and down slightly in ...

Alain William

SSAB : Une belle résilience au T2 et une amélioration attendue courant T3. Des qualités intrinsèques sous-estimées. Achat vs Neutre

>Du mieux en perspective au T3 sur la demande finale - Dans un contexte encore très incertain, le management a indiqué s’attendre à une baisse séquentielle des livraisons amplifiée par la saisonnalité pour SSAB Europe (15% de l’EBITDA 2019) et SSAB Special Steels (33% de l’EBITDA 2019) tandis que celles de SSAB Americas (45% de l’EBITDA 2019) sont attendues stables. Le management nous semble assez constructif sur les prix qu’il attend stables pour Americas ou en légèr...

Jimi Lehtonen ...
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Viktor Trollsten

Northern Lights

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EM Remains In Favor; Shanghai Comp Breaking Out A weakening US dollar (DXY) continues to be a major tailwind for both EM equities and the commodity Sectors. Improving price and RS trends for these risk-on areas of the market are among the many characteristics consistent with historical bull markets. Therefore, we continue to label this a bull market and we believe global equities are still in the early innings of a broad-based advance. • EM Equities. Price action has remained weak for the US dollar (DXY), which has been great news for EM equities. As outlined in our 12/19/19 Int'l Compass an...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EM Breakout -- Add Exposure The laundry list of market characteristics consistent with historical bull markets continues to grow, helping support our ongoing belief that global equities are in the early stages of a broad-based advance. • US Dollar; EM Equities. The US dollar (DXY) exhibits signs of rolling over, something we outlined as increasingly likely in our 12/10/19 Int'l Macro Vision strategy. This is bullish for global equities -- especially EM -- and has paved the way for the MSCI EM index to break above key resistance. Add exposure... see chart below and page 2. • Europe and Japan...

Alain William

SSAB : Fine resilience in Q2 and improvement expected in Q3. Intrinsic qualities underestimated. Buy vs Neutral.

>Improvement in final demand in prospect in Q3 - In a still highly uncertain climate, the management said that it expects a sequential decline in shipments amplified by the seasonal pattern for SSAB Europe (15% of 2019 EBITDA) and SSAB Special Steels (33% of 2019 EBITDA) while those for SSAB Americas (45% of 2019 EBITDA) are expected to be stable. The management appear fairly constructive on prices, which they expect to be stable for the Americas and down slightly in ...

Alain William

SSAB : Une belle résilience au T2 et une amélioration attendue courant T3. Des qualités intrinsèques sous-estimées. Achat vs Neutre

>Du mieux en perspective au T3 sur la demande finale - Dans un contexte encore très incertain, le management a indiqué s’attendre à une baisse séquentielle des livraisons amplifiée par la saisonnalité pour SSAB Europe (15% de l’EBITDA 2019) et SSAB Special Steels (33% de l’EBITDA 2019) tandis que celles de SSAB Americas (45% de l’EBITDA 2019) sont attendues stables. Le management nous semble assez constructif sur les prix qu’il attend stables pour Americas ou en légèr...

Viktor Trollsten

SSAB (Buy, TP: SEK35.00) - BUY ahead of earnings recovery

We reiterate our BUY and SEK35 target price, as: 1) outlook comments suggest we are approaching trough earnings; 2) operational performance in Special Steels bodes well for cost absorption and mix effects; and 3) we expect rising steel prices to drive profitability. In our view, expanding margins are not reflected in the valuation, and combining our 2022e volume scenario with peak EBITDA per tonne could justify a fair value of SEK54. We have raised our 2021–2022e EBITDA by 2–5%.

Alain William

SSAB : Q2 2020 stronger than expected. Q3 may not improve sequentially

>Q2 results comes in well above expectations - SSAB published a Q2 2020 operating loss of SEK 251m i.e. much better than our expectations (ODDO BHF: SEK -560m; Q1 2020: SEK 343m) and the consensus (SME Direct: -SEK 478m). This beat is probably due to the fact that the allocation of maintenance costs between Q2 and Q3 has been geared towards Q3 while the overall cost is now expected at SEK 900m (vs SEK 880m). Q2 EBITDA came in at SEK 705m (vs ODDO-BHF: SEK 350m). By di...

Alain William

SSAB : Q2 2020 stronger than expected. Q3 may not improve sequentially

>Q2 results comes in well above expectations - SSAB published a Q2 2020 operating loss of SEK 251m i.e. much better than our expectations (ODDO BHF: SEK -560m; Q1 2020: SEK 343m) and the consensus (SME Direct: -SEK 478m). This beat is probably due to the fact that the allocation of maintenance costs between Q2 and Q3 has been geared towards Q3 while the overall cost is now expected at SEK 900m (vs SEK 880m). Q2 EBITDA came in at SEK 705m (vs ODDO-BHF: SEK 350m). By di...

Baptiste Lebacq

ODDO BHF Small & MIDCAP MORNING NEWS - 07/23/2020

...

Baptiste Lebacq

ODDO BHF Small & MIDCAP MORNING NEWS - 23/07/2020

...

Jimi Lehtonen ...
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Viktor Trollsten

Northern Lights

Emmanuel Matot ...
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 07/21/2020

...

Emmanuel Matot ...
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 21/07/2020

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Thanks to a better fundamental star rating, SSAB AB sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to SSAB AB (SE), active in the Steel industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date June 5, 2020, the closing price was SEK 26.79 and its expected value was estimated at SEK 22.64.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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