Parent Company & consolidated items include the Parent Company, Group eliminations and also parts of the Group’s operations undergoing restructuring. For additional information see the Annual Report for 2021.

The effects regarding IFRS 16 were reported under Parent Company & consolidated items and have not been allocated to the two business areas.

Sales for the first quarter of the Parent Company, BE Group AB (publ), amounted to SEK 30 M (22) during the period and derived from intra-Group services. These intra-Group services mainly include central expenses for IT and business systems, the subsidiaries’ use of the BE Group brand and Finance. These expenses are distributed and invoiced to all subsidiaries in the Group. In the result follow-up of the business areas, these intra-group expenses have been eliminated except for expenses for IT and business systems. Out of the total costs for the Parent Company, of SEK 14 M (11), SEK 10 M (9) was allocated to the subsidiaries. The operating result amounted to SEK 16 M (11).

Net financial items for the quarter amounted to SEK 3 M (96). Profit before tax amounted to SEK 19 M (107) and profit after tax amounted to SEK 15 M (105). Investments in the Parent Company amounted to SEK 0 M (1). At the end of the period, cash and equivalents in the Parent Company amounted to SEK 112 M (272).

Group

Net financial items and tax

The Group’s consolidated net financial items in the first quarter amounted to SEK -2 M (-8), of which net interest amounted to SEK -3 M (-4). During the quarter, interest expenses related to leasing according to IFRS 16 amounted to SEK -2 M (-2).

Taxes for the first quarter amounted to SEK -34 M (-15). Profit after tax amounted to SEK 148 M (63).

Cash flow

The Group’s consolidated working capital amounted to SEK 920 M (376) at the end of the period and the average working capital tied-up for the first quarter was 12.0 percent (8.2). Cash flow from operating activities amounted to SEK 108 M (60) during the quarter, of which approximately SEK 45 M is related to deferred supplier payments as a result of sanctions imposed on Russian-controlled companies. Cash flow from investing activities amounted to SEK -6 M (-3). Cash flow after investments thus amounted to SEK 102 M (57).

Financial position and liquidity

At the end of the period, consolidated cash and cash equivalents, including overdraft facilities, amounted to SEK 269 M (442) and the interest-bearing net debt excl. IFRS 16 was SEK 159 M (124). Equity amounted to SEK 1,568 M (981) at the end of the period.

Organization, structure and employees

The number of employees increased to 663 compared to 609 at the same time last year. The average number of employees during the year amounted to 645 (613).