SSAB Cuts Dividend to SEK5.00 a Share Vs SEK8.70 [MarketWatch]
SSAB SWEDISH STL UNSP/ADR (SSAAY)
NASDAQ:AMEX Investor Relations:
ssab.com/company/investors
Company Research
Source: MarketWatch
The company said Wednesday that it made a net profit of 1.90 billion Swedish kronor ($182.5 million) for the fourth quarter compared with a loss of SEK29.99 billion for the year-earlier period, which included impairment charges related to its acquisitions of Ipsco and Rautaruukki. Advertisement Revenue for the quarter was SEK26.47 billion compared with SEK30.14 billion, hurt by lower prices in Europe and the Americas. The company swung to an operating profit of SEK2.40 billion from a loss of SEK29.50 billion. Analysts expected SSAB to report an operating profit of SEK1.91 billion on revenue of SEK25.86 billion, according to consensus estimates provided by the company. SSAB said it expects shipments of special steels to be significantly higher in the first quarter relative to the fourth quarter, as well as higher shipments in Europe and the Americas. Write to Adria Calatayud at adria.calatayud@wsj.com
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