Salzgitter AG

Salzgitter is a holding company. Through its subsidiaries, Co. organized its businesses into five divisions. The Steel Division manufactures steel and special steels. The Tubes Division is involved with the manufacture of line pipes, HFI-welded pipes, precision tubes and stainless steel tubes. The Trading Division operates a European sales network as well as trading companies and agencies worldwide. The companies in the Services Division provide services such as data processing, telecommunications services, scrap dealing, the handling and storage of bulk cargo, transportation, and other services. The Technology Division operates in the filling and packaging technology segment.
  • Ticker620200
  • ISINDE0006202005
  • SectorIndustrial Metals & Mining
  • CountryGermany

Analysts

Alain William ...
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/15/2019

Insurers are better equipped than a few years ago to cope with the low interest rate environment. With earnings per share set to continue to grow, the market is likely to focus primarily on solvency margin levels. We believe that they should remain within the target ranges as long as the German 10-year rate does not fall below -1.5%. We reiterate our Buy rating on AXA (target price of € 28). - Cf. company report published last evening. - ...

Alain William ...
  • Florent Laroche-Joubert

ODDO BHF Small & MIDCAP MORNING NEWS - 10/15/2019

...

Alain William ...
  • Florent Laroche-Joubert

ODDO BHF Small & MIDCAP MORNING NEWS - 15/10/2019

...

Alain William ...
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/10/2019

...

Alain William

ODDO : The Q3 results and Q4 outlook might well be disappointing

>A very challenging Q3 2019 - The operating environment was challenging in Q3 2019. It is characterised by: i/ the lag effect on prices in Q3 caused by the decline in spot prices in Q2; ii/ the decline in volumes with a more marked seasonal impact in Europe; iii/ the persistently high level of input costs (notably iron ore prices); and iv/ the marked decrease in the price of scrap which is weighing on market sentiment. Also note that the series of price hikes over the...

Alain William

ODDO : The Q3 results and Q4 outlook might well be disappointing

>A very challenging Q3 2019 - The operating environment was challenging in Q3 2019. It is characterised by: i/ the lag effect on prices in Q3 caused by the decline in spot prices in Q2; ii/ the decline in volumes with a more marked seasonal impact in Europe; iii/ the persistently high level of input costs (notably iron ore prices); and iv/ the marked decrease in the price of scrap which is weighing on market sentiment. Also note that the series of price hikes over the...

Alain William

ODDO : Les résultats du T3 et les perspectives pour le T4 risquent de décevoir

>Un T3 2019 très compliqué - L’environnement opérationnel a été difficile au T3 2019. Il s’est caractérisé par : 1/ l’impact décalé sur les prix réalisés de la baisse des prix spots au T2 ; 2/ le recul des volumes avec une saisonnalité plus marquée en Europe ; 3/ le niveau toujours élevé du coût des inputs (notamment le prix du minerai de fer) et 4/ la forte chute du prix de la ferraille qui pèse sur le sentiment de marché. Notons également que la série de hausses de ...

Alain William

ODDO : An end-2019 to forget. Outokumpu Neutral vs Buy

>More marked seasonal effect in 2019 in Europe - The stainless steel market remained challenging in Q3 2019. Apart from the typical slowdown in Europe, demand was further penalised by high import volumes from Asia and the sluggishness of some client segments notably automotive and household appliances, with the rest of the sectors stable. Distributors stocks have fallen below the average level but remain high relative to lacklustre consumption. The base prices were ap...

Alain William

ODDO : Une fin d’année 2019 à oublier. Outokumpu Neutre vs Achat

>Une saisonnalité plus marquée cette année en Europe - Le marché de l'acier inoxydable est resté difficile au T3 2019. Outre le ralentissement saisonnier typique en Europe, la demande a encore été pénalisée par les volumes d'importation élevés en provenance d'Asie et par la faiblesse de certains segments de clientèle notamment l’automobile et l’électroménager, le reste des segments étant stable. Les stocks des distributeurs ont été réduits à des niveaux inférieurs à l...

Nurhayati Wan

Salzgitter

Alain William ...
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/15/2019

Insurers are better equipped than a few years ago to cope with the low interest rate environment. With earnings per share set to continue to grow, the market is likely to focus primarily on solvency margin levels. We believe that they should remain within the target ranges as long as the German 10-year rate does not fall below -1.5%. We reiterate our Buy rating on AXA (target price of € 28). - Cf. company report published last evening. - ...

Alain William ...
  • Florent Laroche-Joubert

ODDO BHF Small & MIDCAP MORNING NEWS - 10/15/2019

...

Alain William ...
  • Florent Laroche-Joubert

ODDO BHF Small & MIDCAP MORNING NEWS - 15/10/2019

...

Alain William ...
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/10/2019

...

Alain William ...
  • Anis Zgaya
  • Azza Khalfallah
  • Jerôme Bodin
  • Khaled Ben Amor
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Oussema Denguir
  • Sylvain Goyon, CFA

ODDO BHF Small & MIDCAP MORNING NEWS - 10/09/2019

...

Thanks to a better fundamental star rating, SALZGITTER AG sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to SALZGITTER AG (DE), active in the Steel industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date September 13, 2019, the closing price was EUR 18.89 and its expected value was estimated at EUR 18.11.

Nurhayati Wan

Salzgitter

Nurhayati Wan

Salzgitter

Nurhayati Wan

Salzgitter

Nurhayati Wan

Salzgitter

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Opportunities within Mobile Payments, Metals & Mining, and Utilities The MSCI ACWI and S&P 500 continue to recover following the most recent test of support at their respective 200-day moving averages. With market internals still mixed, support levels holding, and indexes continuing to consolidate sideways, our neutral but constructive outlook remains intact. • Major themes: Mobile Payments, Metals & Mining, and Utilities. We believe the secular mobile payments theme (ETF: IPAY) has room to run, and we expect related stocks to continue outperforming... see pages 2-4 for actionable stocks. W...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch