The business area includes the Group’s operations in Finland and the three Baltic States.

First quarter

Compared with the first quarter last year, net sales were unchanged and amounted to SEK 565 M (565). Tonnage was 6 percent lower but higher average steel prices and mix effects contributed to the preserved sales level. However, the operating result decreased to SEK 17 M (29) mainly due to a weaker development in Finland. Adjusted for inventory losses of SEK -3 M (3), the underlying operating result amounted to SEK 20 M (26).

Business unit Distribution Finland delivered an underlying result in line with last year and the tonnage volume was also at the same level. Business unit Production Finland showed marginally lower net sales while volume, gross margin and profit were lower than last year as a result of tough competition in the segment.

Business Area Finland & Baltics sales growth and underlying operating result per quarter