reports
SSAB AB: 2 directors
Two Directors at SSAB AB bought 15,813 shares at between 60.100SEK and 61.060SEK. The significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last t...
- Johannes Grunselius
SSAB (Buy, TP: SEK100.00) - Impressive earnings resilience
Q1 proved another solid quarter, aided by impressive earnings resilience in SSAB Special Steels and SSAB Europe. While we have lowered our 2024-25 forecasts for SSAB Americas, this is offset by a more positive view on SSAB Special Steels and SSAB Europe, meaning our group earnings are largely unchanged. We reiterate our BUY, but given the stock is now trading ex-dividend (DPS of SEK5), we have lowered our target price to SEK100 (SEK105).
- Chaima Ferrandon
- Sven Edelfelt
HEIA HEINEKEN NV
AI AIR LIQUIDE SA
IPN IPSEN SA
DB1 DEUTSCHE BOERSE AG
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
KPN ROYAL KPN NV
COV COVIVIO SA
ROG ROCHE HOLDING LTD
ORA ORANGE SA
SSAB A SSAB AB CLASS A
FGR EIFFAGE SA
KER KERING SA
RAND RANDSTAD NV
ENI ENI S.P.A.
ASM ASM INTERNATIONAL N.V.
ASSA B ASSA ABLOY AB CLASS B
INGA ING GROEP NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
EPI A EPIROC AB
- Chaima Ferrandon
- Sven Edelfelt
AI AIR LIQUIDE SA
IPN IPSEN SA
DB1 DEUTSCHE BOERSE AG
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
KPN ROYAL KPN NV
COV COVIVIO SA
ROG ROCHE HOLDING LTD
ORA ORANGE SA
SSAB A SSAB AB CLASS A
FGR EIFFAGE SA
KER KERING SA
RAND RANDSTAD NV
ENI ENI S.P.A.
ASM ASM INTERNATIONAL N.V.
ASSA B ASSA ABLOY AB CLASS B
INGA ING GROEP NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
EPI A EPIROC AB
- Emna Ben Bdira
- Maxime Kogge
SSAB : Sound Q1 results thanks to Special Steels and Europe, decent Q2...
>Q1 a strong beat on Europe and Special Steels, Americas more underwhelming - SSAB delivered better-than-expected Q1 results with EBITDA at SEK 4.1bn, 18% > consensus and 26% > ODDO BHF. The beat was essentially driven by the Special Steels division which achieved SEK 2.1bn of EBITDA, 45% > consensus on very sound volume growth (+17% q-o-q) as good demand in material handling offset weakness in construction. Europe also outperformed with EBITDA at SEK 0.6bn, 44% > con...
- Emna Ben Bdira
- Maxime Kogge
SSAB : Sound Q1 results thanks to Special Steels and Europe, decent Q2...
>Q1 a strong beat on Europe and Special Steels, Americas more underwhelming - SSAB delivered better-than-expected Q1 results with EBITDA at SEK 4.1bn, 18% > consensus and 26% > ODDO BHF. The beat was essentially driven by the Special Steels division which achieved SEK 2.1bn of EBITDA, 45% > consensus on very sound volume growth (+17% q-o-q) as good demand in material handling offset weakness in construction. Europe also outperformed with EBITDA at SEK 0.6bn, 44% > con...
- Johannes Grunselius
SSAB (Buy, TP: SEK105.00) - Transformational story is unfolding
Due to negative effects from the ongoing strikes in Finland and a more cautious view on prices for the America’s division, we have cut our EBITDA for 2024e by c9%. More importantly, we have also revised our long-term forecast following SSAB’s cSEK50bn capex plan to turn the Lulea steel mill into a new fossil-free mini-mill system by 2028e that we estimate will mean at least SEK5bn structurally higher annual EBITDA. Reflecting the estimate cuts and heavier capex than previously assumed, we have c...
- Baptiste Salaville
- Bruno Cavalier
- Jean Danjou
BMW BAYERISCHE MOTOREN WERKE AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
SSAB A SSAB AB CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
VNA VONOVIA SE
01913 PRADA S.P.A.
MONC MONCLER SPA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
NN NN GROUP N.V.
HLAG HAPAG-LLOYD AG
- Baptiste Salaville
- Bruno Cavalier
- Gerardo Ibanez
- Steven Boumans
BMW BAYERISCHE MOTOREN WERKE AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
LI KLEPIERRE SA
COV COVIVIO SA
GFC GECINA SA
SSAB A SSAB AB CLASS A
NXI NEXITY SA CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
FLY SOCIETE FONCIERE LYONNAISE SA
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
EL ESSILORLUXOTTICA SA
WHA WERELDHAVE N.V.
INTO INTERVEST OFFICES & WAREHOUSES SA
BRBY BURBERRY GROUP PLC
KOF KAUFMAN & BROAD SA
KER KERING SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
DEQ DEUTSCHE EUROSHOP AG
ICAD ICADE SA
01913 PRADA S.P.A.
COFB COFINIMMO SA
VASTN VASTNED RETAIL NV
TEG TAG IMMOBILIEN AG
PSPN PSP SWISS PROPERTY AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
MONC MONCLER SPA
CPINV CARE PROPERTY INVEST SA
ARG ARGAN SA
VGP VGP NV
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
LRE LAR ESPANA REAL ESTATE SOCIMI SA
NN NN GROUP N.V.
MERLIN MERLIN PROPERTIES SOCIMI S.A.
DKG DEUTSCHE KONSUM REIT-AG
HLAG HAPAG-LLOYD AG
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
SHUR SHURGARD SELF STORAGE LIMITED
- Emna Ben Bdira
- Maxime Kogge
SSAB : Preview T1 : impacté par la grève en Finlande et la baisse des ...
>Environnement de marché plus faible qu’attendu notamment sur les plates US - Dans la continuité de 2023, SSAB affiche la meilleure performance boursière du secteur depuis le début 2024, en hausse (modeste) de 1,5%, grâce à ses positions sur les aciers spéciaux et aux US qui le rendent moins sensible que les autres acteurs à la dégradation actuelle du marché de l’acier due à la faible conjoncture en Chine. Toutefois, le groupe n’est pas complètement à l’écart. En part...
- Emna Ben Bdira
- Maxime Kogge
SSAB : Q1 preview: affected by Finland strike and falling US plate ste...
>Weaker market environment than expected, notably in US plate steel - Carrying on from 2023, SSAB has posted the best share performance in the sector year-to-date, up a (modest) 1.5%, thanks to its positions in special steels and in the US, which make it less sensitive than other players to the current deterioration of the steel market due to the weak Chinese economy. However, the group is not completely shielded. In particular, US plate prices continue to trend downw...
- Johannes Grunselius
- Emmanuel Matot
FP TOTAL SE
PUB PUBLICIS GROUPE SA
IPN IPSEN SA
EQNR EQUINOR ASA
DG VINCI SA
MT ARCELORMITTAL SA
SSAB A SSAB AB CLASS A
FORTUM FORTUM OYJ
ULVR UNILEVER PLC
KBC KBC GROUP N.V.
AMUN AMUNDI SA
ISP INTESA SANPAOLO S.P.A.
ORSTED ORSTED
GN GN STORE NORD A/S
SOI SOITEC SA
NEM NEMETSCHEK SE
UCG UNICREDIT S.P.A.
ASSA B ASSA ABLOY AB CLASS B
AZN ASTRAZENECA PLC
SIE SIEMENS AG
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
VWS VESTAS WIND SYSTEMS
ARM ARM HOLDINGS PLC
- Emmanuel Matot
FP TOTAL SE
PUB PUBLICIS GROUPE SA
IPN IPSEN SA
EQNR EQUINOR ASA
DG VINCI SA
MT ARCELORMITTAL SA
SSAB A SSAB AB CLASS A
FORTUM FORTUM OYJ
ULVR UNILEVER PLC
KBC KBC GROUP N.V.
AMUN AMUNDI SA
ISP INTESA SANPAOLO S.P.A.
ORSTED ORSTED
GN GN STORE NORD A/S
SOI SOITEC SA
NEM NEMETSCHEK SE
UCG UNICREDIT S.P.A.
ASSA B ASSA ABLOY AB CLASS B
AZN ASTRAZENECA PLC
SIE SIEMENS AG
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
VWS VESTAS WIND SYSTEMS
ARM ARM HOLDINGS PLC
- Emna Ben Bdira
- Maxime Kogge
SSAB : Feedback from roadshow: cautious short-term outlook but long-te...
>Cautious short-term outlook on lack of visibility … - We hosted CFO Leena Craelius and Head of IR Per Hillström on a roadshow in Paris in the wake of solid Q4 2023 results published last week. We found the tone of the group’s message relatively cautious on short-term trends with the anticipated volume rebound in Q1 2024 mostly due to seasonality and some restocking from services centres while underlying demand remains soft for most end-markets. Visibility is als...
- Emna Ben Bdira
- Maxime Kogge
SSAB : Feedback from roadshow: cautious short-term outlook but long-te...
>Cautious short-term outlook on lack of visibility … - We hosted CFO Leena Craelius and Head of IR Per Hillström on a roadshow in Paris in the wake of solid Q4 2023 results published last week. We found the tone of the group’s message relatively cautious on short-term trends with the anticipated volume rebound in Q1 2024 mostly due to seasonality and some restocking from services centres while underlying demand remains soft for most end-markets. Visibility is als...
- Bruno Cavalier
- Jerôme Bodin
ROG ROCHE HOLDING LTD
SSAB A SSAB AB CLASS A
ABB ABB LTD.
VIV VIVENDI SE
G ASSICURAZIONI GENERALI S.P.A.
SAN SANOFI
SOLB SOLVAY SA
HM B H&M HENNES & MAURITZ AB CLASS B
ASRNL ASR NEDERLAND NV
SKF B SKF AB CLASS B
INGA ING GROEP NV
LDO LEONARDO SPA
SHL SIEMENS HEALTHINEERS AG
DSY DASSAULT SYSTEMES SA
SHEL SHELL PLC
- Bruno Cavalier
- Jerôme Bodin
ROG ROCHE HOLDING LTD
SSAB A SSAB AB CLASS A
ABB ABB LTD.
VIV VIVENDI SE
G ASSICURAZIONI GENERALI S.P.A.
SAN SANOFI
SOLB SOLVAY SA
HM B H&M HENNES & MAURITZ AB CLASS B
ASRNL ASR NEDERLAND NV
SKF B SKF AB CLASS B
INGA ING GROEP NV
LDO LEONARDO SPA
SHL SIEMENS HEALTHINEERS AG
SHEL SHELL PLC
- Emna Ben Bdira
- Maxime Kogge
SSAB : Q4 postview: resilience confirmed but Q1 a bit more challenging...
>Good quality release despite some negative points and robust indications for Q1 - SSAB yesterday reported another robust set of results with Q4 EBITDA of SEK 3.4bn, 19% above consensus and 13% above our estimates (cf. yesterday’s First Take). SSAB Europe was the main cause for satisfaction, a performance that rewards the proactive cost management with efforts undertaken before most other steelmakers. In a challenging market environment, prices and volumes, reflecting...
- Emna Ben Bdira
- Maxime Kogge
SSAB : Post-vue T4 : capacité de résilience confirmée mais T1 un peu p...
>Publication de qualité malgré quelques bémols et indications solides sur le T1 - SSAB a livré hier une nouvelle publication solide avec un EBITDA T4 de 3,4 MdSEK supérieur de 19% au consensus et de 13% à nos propres attentes (cf. first take publié hier). SSAB Europe a été la principale source de satisfaction. Dans un environnement de marché difficile, la division a vu ses prix de vente et ses volumes résister, une performance qui récompense la gestion proactive des c...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.