The Group & Parent Company

Net financial items and tax

The Group’s consolidated net financial items in the first quarter amounted to SEK -4 M (-5), of which net interest amounted to SEK -6 M (-6). During the quarter, interest expenses related to leasing according to IFRS 16 amounted to SEK -3 M (-3).

Taxes for the first quarter amounted to SEK -4 M (1). The Group has not booked any deferred tax on the non-recurring costs that were charged to the quarter in connection with the closure of the Baltics. Profit after tax amounted to SEK -4 M (-3).

Cash flow

The Group’s consolidated working capital amounted to SEK 686 M (931) at the end of the period and the average working capital tied-up for the first quarter was 13.1 percent (16.5). Cash flow from operating activities amounted to SEK 44 M (226) during the quarter. Cash flow from investing activities amounted to SEK -26 M (-48) and is mainly related to the investment in a new business system. Cash flow after investments thus amounted to SEK 18 M (178).

Financial position and liquidity

At the end of the period, consolidated cash and cash equivalents, including overdraft facilities, amounted to SEK 182 M (289) and the interest-bearing net debt excl. IFRS 16 was SEK 271 M (204). Equity amounted to SEK 1,439 M (1,643) at the end of the period.

Organization, structure and employees

The number of employees amounted to 648 compared to 683 at the same time last year. The average number of employees during the quarter amounted to 652 (674).

Parent Company & consolidated items

Parent Company & consolidated items include the Parent Company and Group eliminations. For additional information see the Annual Report for 2023.

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

Parent Company

Sales for the first quarter of the Parent Company, BE Group AB (publ), amounted to SEK 34 M (34) and derived from intra-Group services. These intra-Group services mainly include the subsidiaries’ use of the BE Group brand and central expenses for IT 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 -17 M (-19), SEK 16 M (14) was allocated to the subsidiaries. The operating result amounted to SEK 18 M (15).

Net financial items for the quarter amounted to SEK 6 M (3). Profit before tax amounted to SEK 24 M (18) and profit after tax amounted to SEK 19 M (15). Investments in the Parent Company amounted to SEK 20 M (0). At the end of the period, cash and equivalents in the Parent Company amounted to SEK 13 M (114).