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 ...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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