INTERIM Report
BE Group AB (publ)
January – June 2023
Second quarter 2023
- Net sales decreased by 31% to SEK 1,406 M (2,044)
- The underlying operating result amounted to SEK 33 M (291)
- The operating result amounted to SEK 26 M (313), including inventory gains and losses of SEK -7 M (22)
- Result after tax amounted to SEK 19 M (251)
- Cash flow from operating activities increased to SEK 132 M (127)
- Earnings per share amounted to SEK 1.47 (19.30)
- A new credit agreement has been signed with a credit facility of SEK 775 M
First six months 2023
- Net sales decreased by 24% to SEK 2,964 M (3,889)
- The underlying operating result amounted to SEK 43 M (471)
- The operating result amounted to SEK 27 M (497), including inventory gains and losses of SEK -16 M (26)
- Result after tax amounted to SEK 16 M (399)
- Cash flow from operating activities increased to SEK 358 M (235)
- Earnings per share amounted to SEK 1.25 (30.71)
“The reason for the weak result is, as in the last quarter, a decline in tonnage of 18% and a price reduction of 17% compared to the second quarter last year which pushed down the gross margin. The Group´s main operations in Sweden and Finland has, as a consequence of changes in the surrounding world, lost significant turnover which led to the Group ending up on an unacceptably low profitability level. BE Group has increased focus on measures to enhance efficiency and margin. The ambition is that the company should be profitable regardless of the economic situation or factors from the surrounding world”
Peter Andersson, President and CEO
Results overview | 2023 Apr-Jun | 2022 Apr-Jun | Change | 2023 Jan-Jun | 2022 Jan-Jun | Change | |
Resultatöversikt | 2023 apr-jun | 2022 apr-jun | Förändring | 2023 jan-jun | 2022 jan-jun | Förändring | |
Tonnage, thousands of tonnes | Tonnage, tusen ton | 73 | 88 | -15 | 154 | 180 | -26 |
Net sales, SEK M | Nettoomsättning, MSEK | 1,406 | 2,044 | -638 | 2,964 | 3,889 | -925 |
Underlying operating result, SEK M | Underliggande rörelseresultat, MSEK | 33 | 291 | -258 | 43 | 471 | -428 |
Operating result, SEK M | Rörelseresultat, MSEK | 26 | 313 | -287 | 27 | 497 | -470 |
Profit/loss for the period, SEK M | Periodens resultat, MSEK | 19 | 251 | -232 | 16 | 399 | -383 |
Earnings per share, SEK | Resultat per aktie, SEK | 1.47 | 19.30 | -17.83 | 1.25 | 30.71 | -29.46 |
Cash flow from operating activities, SEK M | Kassaflöde från den löpande verksamheten, MSEK | 132 | 127 | 5 | 358 | 235 | 123 |
BE Group, which is listed on the Nasdaq Stockholm exchange, is a trading and service company in steel, stainless steel and aluminium. BE Group offers efficient distribution and value-adding production services to customers primarily in the construction and manufacturing industries. In 2022, the Group reported sales of SEK 6.9 billion. BE Group has approximately 650 employees, with Sweden and Finland as its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com.