BUSINESS AREA
FINLAND & BALTICS

The business area includes the Group’s operations in Finland. The Baltic unit was closed during 2024.

Second quarter

Net sales decreased by 24 percent in the second quarter compared to last year and amounted to SEK 479 M (632). It is explained by negative organic tonnage growth of -17 percent, negative currency effects of -5 percent, closure of the Baltic unit of -3 percent and positive price and mix effects of 1 percent. The operating result amounted to SEK -213 M (11). Adjusted for items affecting comparability of SEK -192 M (-27), of which goodwill of SEK -190 M and inventory gains and losses of SEK 5 M (0), the underlying operating result amounted to SEK -25 M (11).

The Finnish operations provided a very negative underlying operating result. Besides weak market conditions, sales and tonnage has been significantly negatively affected through lower efficiency since the transition to a new business system in the beginning of March. Tonnage decreased by 17 percent while the Finnish market is estimated to have decreased by 7 percent. An action plan has been developed focusing on improved efficiency, delivery capacity and customer satisfaction to regain lost tonnage.

First six months

Net sales for the first six months decreased by 22 percent compared to last year, amounting to SEK 974 M (1,253). The decline is explained by negative organic tonnage growth of -15 percent, closure of the Baltic unit of -3 percent, negative currency effects of -3 percent and negative price and mix effects of -1 percent. Operating result amounted to SEK -223 M (10). Adjusted for items affecting comparability of SEK -192 M (-27) and inventory gains of SEK 1 M (2), the underlying operating result amounted to SEK -32 M (15).