ANNUAL REPORT 2024
The year in brief
Net sales
SEK 4,667 M
(2023: SEK 5,328 M)
Underlying operating result
SEK 51 M
(2023: SEK 30 M)
Operating result
SEK -47 M
(2023: SEK -52 M)
Result after tax
SEK -42 M
(2023: SEK -60 M)
Cash flow from operating activities
SEK 105 M
(2023: SEK 491 M)
Result per share
SEK -3.21
(2023: SEK -4.59)
CEO STATEMENT
Continued challenging market conditions
During the year, market conditions, particularly for the construction sector, remained challenging at the same time as material prices continued to fall. This caused a decrease in sales of 12 percent and pressured gross margins, resulting in an underlying operating margin of 1.1 percent (0.6). This result is far from the ambition, but at the same time, good progress has been made in many parts of the company.
Business area Sweden & Poland
Structural changes in focus
Business area Sweden & Poland accounted for 52 percent (49) of BE Group’s net sales in 2024. The business area includes the Group’s operations in Sweden, the joint venture ArcelorMittal BE Group SSC AB and the Polish operation BE Group Poland Sp.z.o.o., which is under closure. The operations in Sweden consist of production and warehouse facilities in Norrköping and sales offices in eight cities.
Business area Finland & Baltics
Deepen collaboration with customers
In 2024, the business area accounted for 48 percent (51) of the Group’s net sales. The business area consists of the Group’s operations in Finland. The Baltic unit was closed and divested during the year. The operations in Finland consist of production and warehousing facilities in Lapua, Lahti and Turku and sales offices in nine locations.
Corporate Governance
Information about Corporate Governance
The Company’s accounts as well as the administration of the Board of Directors and the President are reviewed by auditors appointed by the Annual General Meeting. The Annual General Meeting adopts principles for the appointment of the Nomination Committee, which formulates proposals to the Annual General Meeting prior to the election and setting of fees for the Board of Directors and auditors. In addition to laws, regulations and the Code, BE Group applies internal governance instruments such as a code of conduct and information policy.
This is BE Group
BE Group dates back to the 1800s and is today one of the Nordic region’sleading trading and service companies in steel, stainless steel and aluminum.
The BE Group share
Since 2006, BE Group AB has been listed on the NASDAQ Stockholm Exchange under the ticker BEGR. The company is included in the Basic Resources sector and has ISIN code SE0008321921.
At the end of 2024, BE Group had 10,231 shareholders, compared with 13,615 at the end of the previous year. AB Traction and Svedulf Fastighets AB were the two largest owners with, in total, approximately 50% of the shares.
Market capitalization end of year
SEK 582 M
(2023: SEK 927 M)
Highest price paid 2024
SEK 83.50
(2023: SEK 149.90)
P/E ratio
-13.9
(2023: -15.5)
Closing balance 2024
SEK 44.75
(2023: SEK 71.25)
Lowest price paid 2024
SEK 44.00
(2023: SEK 65.90)
Yield rate
-%
(2023: -%)