FINLAND & BALTICS
The business area includes the Group’s operations in Finland and the three Baltic countries.
Compared to the second quarter last year, net sales were lower and amounted to SEK 490 M (585). Tonnage decreased by 12 percent and the lower steel prices contributed to sales decreasing by 16 percent. The operating result amounted to SEK 10 M (20) and was affected by items affecting comparability of SEK -5 M (-) related to the decision to centralize warehousing and production operations in the Baltics. Adjusted for inventory gains and losses of SEK 0 M (0) and items affecting comparability of SEK -5 M (-), the underlying operating result amounted to SEK 15 M (19).
The Finnish operations delivered an underlying operating result in line with last year despite lower sales. Decreased tonnage and lower steel prices are compensated by a higher gross margin and efficiency in production operations.
The Baltic operations delivered a weak underlying operating result as a consequence of declining volume and Covid-19. During the second quarter, a decision was made to restructure the business. There will be representation in all of the Baltic countries, but warehousing and production service are being consolidated to Estonia.
First six months
Net sales for the first six months decreased by 9 percent compared to last year, amounting to SEK 1,052 M (1,150). The lower sales is explained by a decrease in tonnage of 5 percent at the same time as steel prices were lower. The operating result amounted to SEK 33 M (33) and adjusted for inventory gains and losses of SEK -6 M (-2) and items affecting comparability of SEK -5 M (-), the underlying operating result increased to SEK 44 M (35). This development is mainly attributable to an increased gross margin and efficiency in the production operations in Finland.