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

Second quarter

Net sales increased by 9 percent in the second quarter compared to last year and amounted to SEK 629 M (576). Tonnage increased by 2 percent compared to last year. Operating result decreased to SEK 18 M (31), mainly due to the previously mentioned negative effect in the Baltics of SEK -12 M. Adjusted for inventory gains of SEK 6 M (5), the underlying operating result amounted to SEK 12 M (26).

Business unit Distribution Finland delivered a weaker result in the period with lower volume and margin as a result of developments in thin sheets. Production Finland shows a growth in tonnage and increased net sales and delivered improved profit compared with last year, mainly due to price and mix effects.

First six months

Net sales increased by 7 percent in the first six months compared with last year and amounted to SEK 1,194 M (1,115). Operating result decreased to SEK 47 M (67) and adjusted for inventory losses and items affecting comparability, the underlying operating result weakened to SEK 39 M (56). The development is mainly due to previously mentioned effects in the Baltics. In addition to this, the distribution operation is still impacted by price pressure on thin sheets in the Finnish market, which had a negative effect on gross margin. Tonnage decreased by 1 percent compared with the same period in 2017.

Business Area Finland & Baltics sales growth and underlying operating result per quarter