The year in brief
- Net sales decreased by 9% to SEK 4,359 M (4,803)
- The underlying operating result amounted to SEK 94 M (117)
- The operating result amounted to SEK 88 M (132)
- Result after tax amounted to SEK 50 M (80)
- Cash flow from operating activities increased to SEK 200 M (86), of which SEK 78 M is an effect of IFRS 16
- Earnings per share amounted to SEK 3.87 (6.13)
- Peter Andersson started as CEO and President in October
- A new three-year credit agreement was signed with an option for extension
- Decision was taken regarding investments in production equipment in Norrköping, totalling approximately SEK 60 M, and an extension of existing rental agreement
- The Board of Directors proposes that no dividend (1.75) will be paid for the financial year of 2019
1) Operating result (EBIT) before items affecting comparability (see Note 7 and 8) and adjusted for inventory gains and losses (deductions for gains and additions for losses).
Key data | 2019 | 2018 | Change | |
Nyckeltal | 2019 | 2018 | Förändring | |
Tonnage, thousands of tonnes | Tonnage, tusental | 340 | 377 | -10% |
Net sales, SEK M | Nettoomsättning, MSEK | 4,359 | 4,803 | -9% |
Operating result, SEK M 1) | Rörelseresultat, MSEK 1) | 88 | 132 | -33% |
Operating margin, % | Rörelsemarginal, % | 2.0 | 2.8 | -0.8% |
Underlying operating result 2) | Underliggande rörelseresultat 2) | 94 | 117 | -20% |
Result after tax, SEK M | Resultat efter skatt, MSEK | 50 | 80 | -38% |
Result per share, SEK | Resultat per aktie, SEK | 3.87 | 6.13 | -37% |
Return on capital employed excl. IFRS 16. % | Avkastning på sysselsatt kapital exkl. IFRS 16. % | 5.6 | 9.4 | -3.8% |
Net debt excl. IFRS 16. SEK M | Nettoskuld exkl. IFRS 16. MSEK | 373 | 440 | -15% |
Net debt/equity ratio excl. IFRS 16. % 2) | Nettoskuldsättningsgrad exkl. IFRS 16. % 2) | 40 | 49 | -9% |
Cash flow from operating activities, SEK M | Kassaflöde från löpande verksamheten, MSEK | 200 | 86 | 133% |
Average number of employees | Medeltal anställda | 652 | 668 | -2% |
2) Part of BE Group´s alternative performance measures which you can read more about in Alternative performance measures and Financial definitions.
The comparative figures for 2018 are prepared according to previous accounting principles regarding leasing (IAS 17).
Sales by business solution, SEK M | Försäljning per affärslösning, MSEK | 2019 | 2018 | % |
Inventory sales | Lagerförsäljning | 1,856 | 2,047 | -9% |
Production service sales | Produktionsserviceförsäljning | 1,956 | 2,151 | -9% |
Direct sales | Direktförsäljning | 547 | 605 | -10% |
Total | Totalt | 4,359 | 4,803 | -9% |
Sales by product area, SEK M | Försäljning per produktområde, MSEK | 2019 | 2018 | % |
Long steel products | Långa produkter | 1,572 | 1,683 | -7% |
Flat steel products | Platta produkter | 1,727 | 1,869 | -8% |
Stainless steel | Rostfritt stål | 752 | 872 | -14% |
Aluminium | Aluminium | 207 | 229 | -10% |
Other | Övrigt | 101 | 150 | -33% |
Total | Totalt | 4,359 | 4,803 | -9% |