Parent Company & consolidated items include the Parent Company, Group eliminations and also parts of the Group’s operations undergoing restructuring. For additional information see the Annual Report for 2020.

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

Sales for the second quarter of the Parent Company, BE Group AB (publ), amounted to SEK 22 M (25) during the period and derived from intra-Group services. These intra-Group services mainly include central expenses for IT and business systems, the subsidiaries’ use of the BE Group brand 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 12 M (11), SEK 9 M (8) was allocated to the subsidiaries. The operating result amounted to SEK 10 M (13).

Net financial items for the quarter amounted to SEK 0 M (8). Profit before tax amounted to SEK 10 M (21) and profit after tax amounted to SEK 8 M (17). Investments in the Parent Company amounted to SEK 2 M (0). At the end of the period, cash and equivalents in the Parent Company amounted to SEK 182 M (9).

Net financial items for the first six months amounted to SEK 96 M (23). Profit before tax amounted to SEK 117 M (49) and profit after tax was SEK 113 M (47). Investments in the Parent Company amounted to SEK 3 M (0).

Group

Net financial items and tax

The Group’s consolidated net financial items in the second quarter amounted to SEK -4 M (3), of which net interest amounted to SEK -3 M (-4). During the quarter, interest expenses related to leasing according to IFRS 16 amounted to SEK -2 M (-3). Net financial items for the first six months amounted to SEK -12 M (-22) and net interest to SEK -7 M (-9), of which SEK -5 M (-6) relates to IFRS 16.

Taxes for the second quarter amounted to SEK -27 M (-6). Profit after tax amounted to SEK 127 M (18) and was SEK 190 M (-5) for the first six months including items affecting comparability of SEK 0 M (-40).

Cash flow

The Group’s consolidated working capital amounted to SEK 434 M (455) at the end of the period and the average working capital tied-up for the second quarter was 7.2 percent (13.0). Cash flow from operating activities amounted to SEK 81 M (95) during the quarter and to SEK 141 M (188) for the first six months. Cash flow from investing activities amounted to SEK -6 M (-6) during the quarter and SEK -9 M (-13) for the first six months. Cash flow after investments thus amounted to SEK 75 M (89) during the second quarter and SEK 132 M (175) for the first six months.

Financial position and liquidity

At the end of the period, consolidated cash and cash equivalents, including overdraft facilities, amounted to SEK 290 M (176) and the interest-bearing net debt excl. IFRS 16 was SEK 75 M (254). Equity amounted to SEK 1,101 M (921) at the end of the period.

Organization, structure and employees

The number of employees amounted to 623 compared to 640 at the same time last year. The average number of employees during the quarter amounted to 616 (637).