First quarter
- Net sales decreased by 16% to
SEK 1,305 M (1,558) -
The underlying operating result increased to
SEK 42 M (10) -
The quarter was affected by items affecting comparability of
SEK -27 M (-) related to closure of the operations in the Baltics -
The operating result increased to
SEK 4 M (1), including inventory losses ofSEK -11 M (-9) -
Result after tax amounted to
SEK -4 M (-3) -
Cash flow from operating activities amounted to
SEK 44 M (226) -
Earnings per share amounted to
SEK -0.35 (-0.22)
Statement from the CEO
Net sales fell by 16 percent to
The decline in tonnage is primarily related to the construction segment but was also affected negatively by a three-day political strike that affected all our Finnish units and many of the customers in February. In mid-March a four week long strike targeted at the process industry and transportation on rails and in harbours followed which continued to affect the Finnish market.
The closure of the Baltic operations announced at the end of March is proceeding according to plan and is affecting the operating result by
Outlook
The industry sector is expected to continue at a good level in the near future. In general, the Finnish market is currently under more pressure than the Swedish right now because of the political strikes. When the situation calms down demand will reasonably increase at least in the short term. The construction sector remains under pressure and is expected to continue at low levels. In total, the construction sector constitutes approximately 15% of the turnover.
The price of sheet metal, which is mainly delivered to the industry, is expected to be relatively stable in the second quarter. Beams and rebar normally increase somewhat in the spring, but the price is now expected to remain relatively unchanged as a result of the challenges in the construction sector. The smaller price variations can reasonably be attributed to the return to a better balance between supply and demand.
Our focus
Our most important focus continues to be to increase and deepen our cooperation with our customers to win as much new business as possible, streamline the supply chain and continue to work with the cost side in order to achieve a healthy margin throughout the business. The ambition for the company is to be profitable regardless of economic trends and external factors. During the first quarter, we show a positive result despite both recession and strike hustle.
For further information, please contact:
Tel: +46 706 53 76 55, email: peter.andersson@begroup.com
Christoffer Franzén, CFO
Tel: +46 705 46 90 05, email: christoffer.franzen@begroup.com
This information is information that
https://news.cision.com/be-group-ab/r/be-group-interim-report-january---march-2024,c3963557
https://mb.cision.com/Main/1831/3963557/2741394.pdf
https://mb.cision.com/Public/1831/3963557/b038ebb427c7b395.pdf
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