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 third quarter of the Parent Company, BE Group AB (publ), amounted to SEK 21 M (23) 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 10 M (9), SEK 9 M (9) was allocated to the subsidiaries. The operating result amounted to SEK 11 M (15). For the first nine months, net sales amounted to SEK 65 M (72) and the operating result to SEK 32 M (41).

Net financial items for the quarter amounted to SEK 1 M (-1). Profit before tax amounted to SEK 12 M (14) and profit after tax amounted to SEK 10 M (11). Investments in the Parent Company amounted to SEK 0 M (0). At the end of the period, cash and equivalents in the Parent Company amounted to SEK 171 M (88).

Net financial items for the first nine months amounted to SEK 97 M (22). Profit before tax amounted to SEK 129 M (63) and profit after tax was SEK 123 M (58). 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 third quarter amounted to SEK -5 M (-7), of which net interest amounted to SEK -3 M (-5). During the quarter, interest expenses related to leasing according to IFRS 16 amounted to SEK -2 M (-3). Net financial items for the first nine months amounted to SEK -17 M (-29) and net interest to SEK -11 M (-14), of which SEK -7 M (-9) is related to leasing according to IFRS 16.

Taxes for the third quarter amounted to SEK -39 M (-1). Profit after tax amounted to SEK 175 M (-4) and to SEK 365 M (-9) for the first nine months including items affecting comparability of SEK 0 M (-40).

Cash flow

The Group’s consolidated working capital amounted to SEK 610 M (474) at the end of the period and the average working capital tied-up for the third quarter was 9.5 percent (15.6). Cash flow from operating activities amounted to SEK 6 M (1) during the quarter and to SEK 147 M (189) for the first nine months. The repayment of previously granted deferral of tax payments of approximately SEK 30 M affected cash flow negatively during the first nine months. Cash flow from investing activities amounted to SEK -6 M (-3) during the third quarter and SEK -15 M (-16) for the first nine months. Cash flow after investments thus amounted to SEK 0 M (-2) during the third quarter and SEK 132 M (173) for the first nine months.

Financial position and liquidity

At the end of the period, consolidated cash and cash equivalents, including overdraft facilities, amounted to SEK 276 M (252) and the interest-bearing net debt excl. IFRS 16 was SEK 98 M (281). Equity amounted to SEK 1,281 M (920) at the end of the period.

Organization, structure and employees

The number of employees amounted to 627 compared to 632 at the same time last year. The average number of employees during the quarter amounted to 625 (636).