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    SSAB A   SE0000171100

SSAB AB

(SSAB A)
  Report
Delayed Quote. Delayed Nasdaq Stockholm - 07/30 11:29:37 am
49.16 SEK   +1.21%
07/26SSAB : S&P Upgrades SSAB's Outlook to Positive Amid Reduced Indebtedness
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07/21SSAB : Report for the second quarter 2021
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07/21SSAB : Result for the second quarter 2021 presentation
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SSAB : Volvo Cars to test fossil-free steel from SSAB's HYBRIT venture

06/16/2021 | 02:17am EDT
FILE PHOTO: A long exposure picture shows cars of Swedish automobile manufacturer Volvo displayed in front of a showroom of Stierli Automobile AG company in St. Erhard

STOCKHOLM (Reuters) - Swedish steelmaker SSAB said on Wednesday it had agreed with Volvo Cars to jointly explore the development offossil-free steel for use in the automotive industry.

The Swedish carmaker, owned by China's Geely Holding, will be the first car maker to source steel from green steel venture HYBRIT, which is owned by SSAB, Swedish state-owned utility Vattenfall and Swedish miner LKAB.

"This steel will be used for testing purposes and may be used in a concept car," SSAB said in a statement.

The HYBRIT project last year began test operations in Sweden to replace coking coal, traditionally needed for ore-based steel making, with fossil-free electricity and hydrogen, which in turn is produced using only renewable power. It aims for a demonstration plant to be ready in 2026. [L8N2FX3LV]

"Together with Volvo Cars, we aim to developfossil-free steel products for cars of the future," SSAB said, adding that Volvo Cars aimed to be the first carmaker to use fossil-free steel for its own actual car production.

(Reporting by Anna Ringstrom; editing by Niklas Pollard)


© Reuters 2021
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Financials
Sales 2021 91 781 M 10 671 M 10 671 M
Net income 2021 10 544 M 1 226 M 1 226 M
Net Debt 2021 1 949 M 227 M 227 M
P/E ratio 2021 4,78x
Yield 2021 6,89%
Capitalization 46 875 M 5 450 M 5 450 M
EV / Sales 2021 0,53x
EV / Sales 2022 0,51x
Nbr of Employees 14 043
Free-Float 81,2%
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 48,57 SEK
Average target price 58,42 SEK
Spread / Average Target 20,3%
EPS Revisions
Managers and Directors
Erik Martin Lindqvist President, Chief Executive Officer & Director
Håkan Victor Folin Chief Financial Officer & Executive Vice President
Bengt David Harry Kjell Chairman
Martin Pei Chief Technology Officer & Executive VP
Eva Petursson Executive Vice President-Research & Innovation
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