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

Second quarter

Compared to the second quarter last year, net sales were lower and amounted to SEK 585 M (629). Tonnage was 11 percent lower, but higher average steel prices and mix effects contributed to sales decreasing by 7 percent. Operating result increased to SEK 22 M (18) mainly due to the result of last year being impacted by a provision for an anticipated bad debt and inventory adjustment in the Baltics of SEK -12 M. Adjusted for inventory gains and losses of SEK 0 M (6), the underlying operating result increased to SEK 22 M (12).

Business unit Distribution Finland delivered an underlying operating result in line with last year although tonnage was lower. Business unit Production Finland showed marginally lower net sales while gross margin and the underlying operating result were in line with last year.

First six months

Net sales for the first six months decreased by 4 percent compared to last year, amounting to SEK 1,150 M (1,194). The operating result amounted to SEK 39 M (47) and, adjusted for inventory losses and items affecting comparability, the underlying operating result increased to SEK 42 M (39). This development is largely attributable to previously mentioned effects in the Baltics last year, as well as inventory gains and losses of SEK -3 M (9). Tonnage decreased by 8 percent compared with the same period in 2018.

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