BUSINESS AREA
FINLAND & BALTICS

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

Third quarter

Net sales decreased by -14 percent compared to the third quarter last year and amounted to SEK 656 M (766). The decline is explained by negative price and mix effects of -30 percent partly compensated by positive currency effects of 11 percent and organic tonnage growth of 5 percent. Mainly, sales of long and flat products decreased compared to last year. The operating result amounted to SEK -20 M (16). Adjusted for inventory losses of SEK -21 M (-13) and items affecting comparability of SEK -2 M (-), the underlying operating result amounted to SEK 3 M (29).

The Finnish operations generated a weak underlying operating result compared to last year as a result of lower steel prices and a pressured gross margin while volumes were unchanged.

Volumes increased in the Baltic operations but the result was negative as a result of declining steel prices and a low gross margin.

First nine months

Net sales for the first nine months decreased by -22 percent compared to last year, amounting to SEK 2,165 M (2,794). The decline is explained by negative price and mix effects of -21 percent and organic tonnage growth of -10 percent partly compensated by positive currency effects of 9 percent. Mainly, sales of long and flat products decreased compared to last year. The operating result amounted to SEK -1 M (315) and adjusted for inventory losses of SEK -10 M (-11) and items affecting comparability of SEK -2 M (-), the underlying operating result amounted to SEK 9 M (326).