Report

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...
Underlying
SSAB AB Class 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.

Provider
Oddo BHF
Oddo BHF

​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.

Other Reports on these Companies
Other Reports from Oddo BHF

ResearchPool Subscriptions

Get the most out of your insights

Get in touch