Note 34 – Significant events after balance sheet date

At present there is a considerable uncertainty in the world regarding what consequences the spread of Covid-19 (coronavirus) will result in and that poses a risk for virtually all companies in the world.

BE Group’s Board of Directors decided on March 16, 2020, to withdraw the previously communicated proposal to the Annual General Meeting concerning dividend of SEK 1.75 per share, in total approximately SEK 23 M. The Board´s decision was taken in light of the prevailing conditions around the world with the insecurities about the possible future economic effects related to the outbreak of Covid-19 (coronavirus).

BE Group is initiating a process to centralize warehouse and production operations in Sweden to the site in Norrköping. The intention, related to this change, is to close the warehouse in Malmö which will affect approximately 15 employees. The one-off cost is approximately SEK 35 M and will be charged to the first quarter 2020. The centralization also leads to cost savings of approximately SEK 15 M per year.

No other significant events have taken place after the end of the period.