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 2 percent amounting to SEK 766 M (753). Sales growth is explained by positive price and mix effects of 15 percent, positive currency effects of 5 percent and negative organic tonnage growth of -18 percent. The operating result amounted to SEK 16 M (126). Adjusted for inventory gains and losses of SEK -13 M (9), the underlying operating result amounted to SEK 29 M (117).

The Finnish operations provided a weaker underlying operating result compared with the very strong previous year. The earnings trend is attributable to decreased demand and high costs for incoming materials resulting in a lower gross margin.

The Baltic operations provided a weak result due to decreased tonnage and a changed price trend.

First nine months

Net sales for the first nine months increased by 38 percent compared to last year, amounting to SEK 2,794 M (2,019). Sales growth is explained by higher steel prices while tonnage decreased by -7 percent. The operating result increased to SEK 315 M (286) and adjusted for inventory gains and losses of SEK -11 M (24), the underlying operating result increased to SEK 326 M (262).