BUSINESS AREA
FINLAND & BALTICS

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

Second quarter

Compared to the second quarter last year, net sales increased by 45 percent and amounted to SEK 710 M (490). Sales growth is mainly explained by an increase in tonnage by 21 percent and higher steel prices. The operating result increased to SEK 108 M (10). Adjusted for inventory gains and losses of SEK 9 M (0) and items affecting comparability of SEK 0 M (-5), the underlying operating result increased to SEK 99 M (15).

The Finnish operations provided a very strong underlying operating result compared to last year. The result development is explained by an increase in demand mainly from the manufacturing industry and higher steel prices.

The Baltic operations showed positive profitability through increased tonnage, higher steel prices and improved gross margin.

First six months

Net sales for the first six months increased by 20 percent compared to last year, amounting to SEK 1,266 M (1,052). The increase is mainly explained by organic tonnage growth of 10 percent, positive price and mix effects of 15 percent and negative currency effects of -5 percent. The operating result increased to SEK 160 M (33) and adjusted for inventory gains and losses of SEK 15 M (-6) and items affecting comparability of SEK 0 M (-5), the underlying operating result increased to SEK 145 M (44). This development is mainly attributable to increased gross margin and tonnage growth.