SSAB : A favourable outlook but take care of the scissors effect at SSAB Europe
>Q1 2019 (a little) better than expected - SSAB reported Q1 2019 EBIT of SEKÂ 1.7bn (vs SEKÂ 1.0bn in Q4 2018) a shade higher than our forecasts (SEKÂ 1.6bn). The sequential improvement in EBITDA mainly stems from: 1/ the fact that maintenance downtime did not recur in Q1 (-SEKÂ 350m for specialty steel and SEKÂ 285m in the Americas in Q4 2018), 2/ the rise in volumes (seasonal impact); and 3/ the favourable price-mix effect with, in particular, a better mix at SSAB Europe...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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