BUSINESS AREA
FINLAND & BALTICS

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

First quarter

Net sales decreased by 23 percent in the first quarter compared to last year amounting to SEK 782 M (1,013). It is explained by negative organic tonnage growth of -17 percent and price and mix effects of -13 percent partly compensated by positive currency effects of 7 percent. The operating result amounted to SEK 3 M (112). Adjusted for inventory gains and losses of SEK 9 M (-3), the underlying operating result amounted to SEK -6 M (116).

The Finnish operations generated a continued negative underlying operating result as a consequence of lower demand and falling steel prices, which resulted in a gross margin under continued pressure.

Similarly, the Baltic operations also had a negative operating result, which is a direct consequence of the current business environment.