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
Net sales
Underlying operating result 1)

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%
1) The operating result 2018 was impacted by items affecting comparability of SEK -12 M (-52), of which, SEK 4 M was attributable to the release of part of the provision related to maintenance of the warehouse in Malmö and SEK -16 M was attributable to the exit from the operations in Prerov, Czech Republic.
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%