SSAB : Very decent Q3 print but subdued Q4 outlook on economic slowdown
>Better-than-expected print as very sticky prices offset weaker volumes - SSAB delivered decent Q3 results with EBITDA at SEK 2.3bn, 11% above consensus and 9% ODDO BHF. Net result was a stronger beat at SEK 1.0bn, 21% above consensus and 38% ODDO BHF. EBITDA was still down 43% q-o-q at the lowest in four years as volumes contracted well beyond the usual seasonality but prices proved very resilient overall thanks to the high-end positioning and the cautious commercial...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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