Note 18 – Participations in joint ventures
BE Group owns 50 percent of ArcelorMittal BE Group SSC AB (company registration number 556192-8770, domiciled in Karlstad, Sweden). The company is a Steel Service Center providing customer specific solutions within thin sheets and coils. The interest in the joint venture company is reported in the consolidated accounts using the equity method, by which 50 percent of profit after tax for the joint venture company will be reported as a share in earnings included in the consolidated operating result of BE Group.
| Earnings in joint venture ArcelorMittal BE Group SSC AB | Resultat i joint venture ArcelorMittal BE Group SSC AB | 2025 | 2024 |
| Result before tax | Resultat före skatt | 38 | 44 |
| Tax | Skatt | -9 | -9 |
| Result after tax | Resultat efter skatt | 29 | 35 |
| Dividends received | Erhållen utdelning | 12 | 16 |
| Overview of income statements and balance sheets for the joint venture | Sammandrag av resultaträkningar och balansräkningar för joint venture | 2025 | 2024 |
| Net sales | Nettoomsättning | 913 | 897 |
| Operating result 1) | Rörelseresultat 1) | 40 | 39 |
| Net financial items | Finansnetto | -2 | 5 |
| Tax | Skatt | -9 | -9 |
| Result for the year 2) | Årets resultat 2) | 29 | 35 |
| 1) Depreciations amounts to | 1) Avskrivningar uppgår till | 9 | 8 |
| 2025 | 2024 | ||
| Non-current assets | Anläggningstillgångar | 201 | 198 |
| Current assets excl. cash and cash equivalents | Omsättningstillgångar exkl. likvida medel | 300 | 374 |
| Cash and cash equivalents | Likvida medel | 37 | 56 |
| Total assets | Summa tillgångar | 538 | 628 |
| 2025 | 2024 | ||
| Equity | Eget kapital | 469 | 460 |
| Provisions | Avsättningar | 13 | 15 |
| Other non-interest-bearing liabilities | Övriga icke räntebärande skulder | 56 | 153 |
| Total equity and liabilities | Summa eget kapital och skulder | 538 | 628 |
| Participations in joint ventures | Andelar i joint venture | 2025 | 2024 |
| Opening balance, cost | Ingående anskaffningsvärde | 192 | 191 |
| Dividends received | Erhållen utdelning | -12 | -16 |
| Share in earnings of joint venture | Resultatandel i joint venture | 15 | 18 |
| Carrying amount at year-end 2) | Bokfört värde vid årets utgång 2) | 195 | 192 |
| Transactions with joint venture ArcelorMittal BE Group SSC AB | Transaktioner med joint venture ArcelorMittal BE Group SSC AB | 2025 | 2024 |
| Receivables from joint venture | Fordringar på joint venture | 2 | 0 |
| Debts to joint venture | Skulder till joint venture | – | 5 |
| Sales to joint venture | Försäljning till joint venture | 2 | – |
| Purchases from joint venture | Inköp från joint venture | 47 | 62 |
| Dividends received | Erhållen utdelning | 12 | 16 |
2) The result is reported under “Participations in earnings of joint venture” in the consolidated income statement. Book value at the end of the year is reported under “Participations in joint ventures” in the consolidated balance sheet.
Impairment testing
Through BE Group Sverige AB, the Group is the owner of 50 percent of the shares in ArcelorMittal BE Group SSC AB. The value of the company’s proportion is tested yearly by the recoverable amount being compared with the book value. Book value amounts to SEK 195 M (192).
The calculation as per December 31, 2025 shows that there is no impairment requirement. Nor was there any impairment requirement for the calculation as per December 31, 2024.