Fourth quarter
- Net sales decreased by 20% to
SEK 1,177 M (1,472) -
The underlying operating result amounted to
SEK -17 M (-50) -
The operating result amounted to
SEK -37 M (-119), including inventory losses ofSEK -20 M (-69) -
Result after tax amounted to
SEK -34 M (-101) -
Cash flow from operating activities amounted to
SEK 150 M (152) -
Earnings per share amounted to
SEK -2.58 (-7.79)
Statement from the CEO
Cash flow continued to be strong amounting to
In total, tonnage decline was -6% in the quarter and -12% for the full-year. The decline is somewhat larger within business area
The joint venture
Outlook
Now, a bit into January, the industrial sector is doing better in terms of tonnage than previous year, while the construction sector remains under pressure and is expected to continue with a low level of activity.
Material prices are, at least for the time being, believed to have bottomed out. Sheet metal producers say that they have a good utilisation and longer lead times indicate that this is the case. Many of the producers that previously have had capacity reductions are now beginning to open up production again. It seems likely that demand will increase during the spring, which would reasonably mean that prices will increase. The supply chain and with it the lead times for long products are shorter than for ore-based sheet metal items and consequently the prices are more "from hand to mouth" and the changes are lower.
Our focus
The market situation remains tough. After close to 20 months of continuous drops in material prices, the price level must be stabilised for margins to return to reasonable levels. The steel industry is cyclic and material prices go up and down. Even though demand varies, a great deal of steel is used even in worse times. Our most important focus is to increase and deepen the collaboration with our customers to win as many new deals as possible, streamline the supply chain and continuing to work with the cost side to achieve a healthy margin for the entire business.
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-year-end-report-2023,c3915542
https://mb.cision.com/Main/1831/3915542/2563223.pdf
https://mb.cision.com/Public/1831/3915542/9700720f9d619415.pdf
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