Focus on efficiency, customer value and growth

In 2025, the business area accounted for 45 percent (48) of the Group’s external net sales. The business area includes the Group’s operations in Finland. The Baltic unit was closed and divested during 2024. The Finnish operations consist of production and warehouse facilities in Lapua, Lahti, and Turku, as well as sales offices in nine locations. As the Group’s Polish operations were discontinued during the first half of the year, part of that production was transferred to the Finnish operations.

In the Finnish market, the company has approximately 2,700 customers and the ten largest customers account for 19 percent of the business area’s sale. The focus is on delivering value‑generating services to both the construction and manufacturing industries. The main competitors are Tibnor and Feon.

Sales and business performance

Net sales for the year decreased by 17 percent compared to last year, amounting to SEK 1,850 million (2,290). The decline is explained by negative organic tonnage growth of -12 percent, the closure of the Baltic unit of -4 percent, negative currency effects of -3 percent, and positive price and mix effects of 2 percent.

The operating result amounted to SEK -263 M (-11). Adjusted for items affecting comparability of SEK -194 M (-19) and inventory gains and losses of SEK 6 M (-4), the underlying operating result amounted to SEK -75 M (12). The weak underlying result is mainly attributable to lower volume and pressure on the gross margin.

In 2025, the Finnish market was characterised by pressured steel prices and weak demand in both the construction and manufacturing industries, although signs of recovery were noted during the fourth quarter. The operations were also negatively affected by lower efficiency during the transition to a new business system at the beginning of March, although the situation gradually improved throughout the year. During the third quarter, rationalisation measures were implemented as part of the Group’s overall cost‑saving program. In light of these challenges, the focus during the year was strict working capital discipline and strengthening cash flow.

Continued development

The organisation is now fully focused on resolving remaining technical challenges in the business system, restoring efficiency and improving customer satisfaction to regain market share. The Finnish steel distribution market is expected to recover gradually, and steel prices are anticipated to trend upward in line with the rest of Europe. Growth and improved profitability will be achieved through an enhanced customer experience, deeper customer relationships, and a clearer offering of value‑creating solutions tailored to each customer segment.