SSAB : Des perspectives favorables mais gare à l’effet de ciseaux pour SSAB Europe
>Un T1 2019 (un peu) meilleur que prévu - SSAB a publié un EBIT au T1 2019 de 1.7 MdSEK (vs 1.0 MdSEK au T4 18) légèrement supérieur à nos attentes (1.6 MdSEK). L’amélioration séquentielle de l’EBITDA provient en grande partie : 1/ de la non récurrence au T1 des arrêts pour maintenance (-350 MSEK à Specialty Steel et 285 MSEK à Americas au T4 2018) ; 2/ à des volumes en hausse (saisonnalité) ; 3/ à un effet prix/mix favorable avec notamment un meilleur mix à SSAB Euro...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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