Brief: SSAB Reports Q2 EBIT Of SEK 2.7 Billion, Below Estimate
BRIEF-SSAB Reports Q2 EBIT Of SEK 2.7 Billion, Below Estimate July 22 (Reuters) - SSAB AB SSABa.ST:
SSAB Q2 EPS SEK 2.09
SSAB Q2 EBIT SEK 2,695 MILLION VS. ESTIMATE SEK 2,846 MILLION
SSAB Q2 REVENUE SEK 27,489 MILLION VS. ESTIMATE SEK 26,621 MILLION
DURING Q3, WE EXPECT TO SEE SEASONAL SLOWDOWN IN DEMAND AND WE WILL CARRY OUT PLANNED MAINTENANCE AT ALL STEEL DIVISIONS
GROUNDWORK IN LULEÅ CONTINUES AFTER PRECAUTIONARY PAUSES, PROJECT REMAINS ON SCHEDULE FOR PRODUCTION START LATE 2029
HIGHER PRICES AND HIGHER SHIPMENTS WERE PARTLY COUNTERACTED BY HIGHER COST, INCLUDING HIGHER COST FOR LOGISTICS AND ENERGY
SEES EU MEASURES AIMED AT PROTECTING SECTOR TO IMPROVE FUTURE SUPPLY-DEMAND BALANCE IN EUROPEAN MARKET
EXPECTS SIGNIFICANTLY LOWER SHIPMENTS IN SPECIAL STEELS AND EUROPE IN Q3 VERSUS Q2, LOWER IN AMERICAS
EXPECTS SOMEWHAT HIGHER REALIZED PRICES IN Q3 VERSUS Q2
Source text: ID:nWkr3KZzPw
Further company coverage: [SSABa.ST]
(Gdansk Newsroom)
((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))