Comments on the report

First quarter

Consolidated net sales for the period decreased by 7 percent compared to last year, amounting to SEK 1,118 M (1,205). The decrease is mainly attributable to lower steel prices and the comparatively weaker development in the Swedish operation.

Gross profit amounted to SEK 170 M (166), with a stronger gross margin compared to last year of 15.2 percent (13.8). The operating result amounted to SEK -4 M (34), corresponding to an operating margin of -0.4 percent (2.8). Adjusted for inventory gains and losses of SEK -11 M (-6) and items affecting comparability of SEK -35 M, the underlying operating result amounted to SEK 42 M (40). The underlying operating margin during the period was 3.8 percent (3.3). The higher underlying operating result is mainly attributable to efficiency improvements and higher capacity utilization in the Finnish and Polish production operations and Lecor Stålteknik.

The Group´s sales growth and underlying operating result per quarter

The comparative figures for 2018 are prepared according to previous accounting principles regarding leasing (IAS 17).

The Group´s gross margin and gross profit per quarter