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MarketScreener Homepage  >  Equities  >  Nasdaq Stockholm  >  SSAB AB    SSAB A   SE0000171100

SSAB AB

(SSAB A)
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Real-time Estimate Quote. Real-time Estimate Cboe Europe - 04/16 07:27:55 am
49.39 SEK   +1.77%
04/14SSAB  : Resolutions adopted at SSAB's 2021 AGM
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04/14SSAB  : Resolutions adopted at SSAB's 2021 AGM
AQ
04/09SSAB  : Invitation to SSAB's report for the first quarter of 2021
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SSAB : Volvo, SSAB plan first fossil-free steel trucks on road to carbon neutrality

04/08/2021 | 05:22am EDT
FILE PHOTO: IAA truck show in Hanover

STOCKHOLM (Reuters) - Swedish truck maker AB Volvo and steel maker SSAB have signed an agreement to produce the world's firstvehicles made of fossil-free steel, the companies said on Thursday.

Volvo plans to start production this year of prototype vehicles and components from steel made by SSAB using hydrogen produced from renewable energy. Small-scale serial production will start in 2022.

"This is an important step on the road to completely climate-neutral transport," Volvo CEO Martin Lundstedt said.

The vehicles and machines will be emissions-free in operation, Volvo said, without specifying how they would run, while adding the company is reviewing all the materials used in their construction to eliminate anything based on fossil fuels.

It will be sourcing steel from green steel venture HYBRIT - which is owned by SSAB, Swedish state-owned utility Vattenfall and Swedish miner LKAB.

Last August, it began test operations in Lulea, 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. [L8N2FX3LV]

China's Geely Holding, which has a stake in AB Volvo, owns Volvo Cars, which it has said will be fully electric by 2030. [L2N2KZ10C]

(Reporting by Helena Soderpalm; editing by Barbara Lewis)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO 1.58% 212.7 Delayed Quote.8.08%
SSAB AB 1.69% 49.36 Delayed Quote.65.63%
All news about SSAB AB
04/14SSAB  : Resolutions adopted at SSAB's 2021 AGM
PU
04/14SSAB  : Resolutions adopted at SSAB's 2021 AGM
AQ
04/09SSAB  : Invitation to SSAB's report for the first quarter of 2021
PU
04/09SSAB  : Invitation to SSAB's report for the first quarter of 2021
AQ
04/08Volvo Partners with SSAB to Produce World's First Vehicles Made with Fossil-f..
MT
04/08SSAB  : Volvo, SSAB plan first fossil-free steel trucks on road to carbon neutra..
RE
04/08CORRECTION : Volvo, SSAB to Collaborate on Vehicles Made of Fossil-Free Steel
MT
04/08Volvo, SSAB in Deal to Produce Vehicles Made of Fossil-Free Steel
DJ
04/08SSAB  : Volvo, SSAB to Collaborate on Vehicles Made of Fossil-Free Steel
MT
04/08SSAB  : Volvo Group and SSAB to collaborate on the world's first vehicles of fos..
PU
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Financials
Sales 2021 80 036 M 9 489 M 9 489 M
Net income 2021 4 214 M 500 M 500 M
Net Debt 2021 6 656 M 789 M 789 M
P/E ratio 2021 11,3x
Yield 2021 3,11%
Capitalization 47 656 M 5 635 M 5 650 M
EV / Sales 2021 0,68x
EV / Sales 2022 0,67x
Nbr of Employees 14 412
Free-Float 74,9%
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Technical analysis trends SSAB AB
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 47,70 SEK
Last Close Price 48,53 SEK
Spread / Highest target 15,4%
Spread / Average Target -1,71%
Spread / Lowest Target -25,8%
EPS Revisions
Managers and Directors
NameTitle
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
Sector and Competitors
1st jan.Capitalization (M$)
SSAB AB65.63%5 635
ARCELORMITTAL29.34%30 785
NUCOR CORPORATION48.34%23 567
POSCO27.21%23 449
NIPPON STEEL CORPORATION48.04%16 647
TATA STEEL LIMITED39.52%14 383