Friday, October 28, 2016

SSAB beats expectations – Business

steel producer, SSAB’s operating profit amounted to sek 707 million for the third quarter of 2016. It is clear from the interim report.

Expected, according to SME Direkt prognossammanställning 552 million. The operating margin was 5.2%, compared with the expected 3.8 percent.

the Result before tax landed at 461 million for the third quarter. Analysts had on average expected a profit before tax of eur 354 million.

Sales amounted to 13.477 million for the period. This low SME Direkt konsensusprognos on 14.409 million.

Steelmaker SSAB expects that the company’s deliveries in the fourth quarter to be on about the same level as during the third quarter, with lower rates in north America, and stable prices in Europe.

Shipments in the fourth quarter will however be affected by customer expectations about price levels in the beginning of 2017. It said the company in the third quarter report.

In north America, demand is expected on the plate remain relatively weak in the fourth quarter, however, is expected to distributors increase their purchases due to low inventory levels, according to SSAB on.

In Europe, demand is expected to remain unchanged in the fourth quarter, however, with a slight seasonal slowdown towards the end of the quarter.

the Volumes of imports to Europe are expected to be on about the same level as during the third quarter, which is lower than at the end of 2015 and beginning of 2016, continues SSAB.

During the third quarter, SSAB maintenance shutdowns at a cost of 280 million sek, of which 200 million in the united states. For the fourth quarter, costs are expected for maintenance shutdowns amount to sek 190 million.


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