BUSINESS AREA
FINLAND & BALTICS

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

Fourth quarter

Compared to the fourth quarter last year, net sales were 9 percent lower and amounted to SEK 496 M (546). The tonnage was also lower compared to last year and contributed to the lower sales. The operating result amounted to SEK 7 M (8) mainly due to lower volumes. Adjusted for inventory gains of SEK 1 M (1), the underlying operating result decreased to SEK 6 M (7).

The distribution business in Finland provided a somewhat lower underlying operating result compared to last year. The lower tonnage was largely compensated by an improved underlying margin. The production business in Finland reported a slightly increased net sales at the same time as the underlying gross margin improved, mainly attributable to a particularly weak period last year. This resulted in an underlying operating result that was stronger than last year.

Full-year 2019

Net sales decreased by 6 percent compared to last year and amounted to SEK 2,157 M (2,299). The operating result amounted to SEK 65 M (81) and, adjusted for inventory gains, the underlying operating result decreased to SEK 65 M (68). The decline is largely attributable to the weaker volume development in the Finnish distribution business.

Business Area Finland & Baltics sales growth and underlying operating result per quarter