BUSINESS AREA
FINLAND & BALTICS

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

First quarter

Net sales increased by 82 percent in the first quarter compared to last year amounting to SEK 1,013 M (556). Sales growth is mainly explained by positive price and mix effects of 69 percent and increased tonnage by 9 percent. The operating result increased to SEK 112 M (52) mainly due to high steel prices. Adjusted for inventory gains and losses of SEK -3 M (6), the underlying operating result increased to SEK 116 M (46).

The Finnish operations provided a very strong underlying operating result and that in comparison with a strong quarter also last year. This was a result of increased tonnage, higher steel prices and sustained gross margin and cost level.

Also the Baltic operations showed strong earnings driven by high steel prices.