BUSINESS AREA
FINLAND & BALTICS

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

Third quarter

Compared to the third quarter last year, net sales increased by 85 percent to SEK 753 M (408). Sales growth is explained by an increase in tonnage by 17 percent at the same time as steel prices were higher. The operating result increased to SEK 126 M (13). Adjusted for inventory gains and losses of SEK 9 M (-6), the underlying operating result improved to SEK 117 M (19).

The Finnish operations provided a very strong underlying operating result compared to last year, despite limited availability of flat and thin products. The result development is explained by increased demand mainly from the manufacturing industry, higher steel prices and improved gross margin.

The Baltic operations provided a positive result through increased tonnage, higher steel prices and improved gross margin.

First nine months

Net sales for the first nine months increased by 38 percent compared to last year, amounting to SEK 2,019 M (1,460). The increase is explained by tonnage growth of 12 percent at the same time as steel prices were higher. The operating result increased to SEK 286 M (46) and adjusted for inventory gains and losses of SEK 24 M (-12) and items affecting comparability of SEK 0 M (-5), the underlying operating result increased to SEK 262 M (63). The development is attributable to high steel prices, strong gross margin and tonnage growth.