Key data 2017 2016 3)
Shipped tonnage, thousands of tonnes 0 23
Net sales, SEK M 140 263
Change compared to previous year, % -47 -35
Operating result (EBIT), SEK M 1) -126 -119
Operating margin, % neg neg
Underlying operating result (uEBIT), SEK M 2) -79 -78
Underlying operating margin, % neg neg
Investments, SEK M 0 3
Average number of employees 72 104

1) The operating result 2017 has been impacted by items affecting comparability of SEK -45 M (-42).

2) Included as a part of BE Group’s alternative performance measures, see also tab Alternative performance measures.

3) BE Group Produktion Eskilstuna has been reported under Parent Company & consolidated items since the fourth quarter of 2017. Comparative numbers have been restated.

Parent Company & consolidated items include the Parent Company, Group eliminations and also parts of the Group´s operations undergoing reconstructuring, BE Group Czech Republic, BE Group Slovakia, BE Group Produktion Eskilstuna and RTS Estonia. BE Group Produktion Eskilstuna has been reported under Parent Company & consolidated items since the fourth quarter of 2017.

Development over the year

The restructuring work, decided on by the Board of BE Group partly in the first quarter of 2016 and the second quarter of 2017, are largely completed. At year-end, only the formal liquidation of the Slovakian and Estonian company remained. No further significant costs are expected to arise. The closure of the Group’s production operations in Eskilstuna was also concluded better than plan in the third quarter. During the year, sales in units under restructuring totalled SEK 158 M (289). The underlying operating result amounted to SEK -28 M (-29).

Parent Company

Sales for the Parent Company, BE Group AB (publ), amounted to SEK 92 M (25) during the period and derived from intra-Group services. The operating result amounted to SEK 38 M (-26). Net financial items, which were negatively impacted in both years by impairment of shares in subsidiaries and this year also intra-Group receivables, amounted to SEK -22 M (-50). The result before tax was SEK 0 M (-67) and the result after tax was SEK -1 M (-57). At the end of the period, Parent Company equity amounted to SEK 557 M (558). Investments in the Parent Company amounted to SEK 0 M (0). At the end of the year, cash and equivalents in the Parent Company amounted to SEK 44 M (9).

Continued development

The negative effects on net sales from the closure of the production unit in Eskilstuna will remain in the first three quarters of 2018. The cost savings achieved full effect as early as the fourth quarter of 2017.