Steel maker SSAB slides as growing uncertainty hits Q2 profits

SSAB AB

23/07/2025 08:09

** Shares in SSAB SSABa.ST slump 10% after the Swedish steel maker posted Q2 EBIT below market expectations, warning of increased uncertainty amid trade barriers

** It posts EBIT of 2.14 billion Swedish crowns ($224.93 million) vs analysts' expectations of 2.29 billion crowns

** "The bulk of the miss is Steel Europe which is ~30% below consensus ... which has negative read-across to other European Steel names after Salzgitter's SZGG.DE profit warning last week," J.P.Morgan says

** SSAB's Europe unit will adjust production and staffing levels during Q3, while postponing the planned start-up of the new steel mill in Luleå by 12 months

 (Reporting by Boleslaw Lasocki)

 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))