BUSINESS AREA
FINLAND & BALTICS

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

Fourth quarter

Compared to the fourth quarter last year, net sales were 12 percent lower and amounted to SEK 436 M (496). The lower sales is explained by negative price and mix effects of 9 percent and negative currency effects of 3 percent. Tonnage was unchanged compared to last year. The operating result increased to SEK 17 M (5) despite lower sales. Adjusted for inventory gains of SEK 6 M (1), the underlying operating result improved to SEK 11 M (4).

The Finnish operations delivered an improved underlying operating result despite lower sales. Lower steel prices and slightly lower tonnage are compensated by a higher gross margin through an improved customer and product mix as well as continued increased efficiency in production operations. The Baltic operations delivered an improved underlying operating result as a consequence of increased volume and sales.

Full-year 2020

Net sales decreased by 12 percent compared to last year, amounting to SEK 1,896 M (2,157). The lower sales is explained by a decrease in tonnage of 6 percent at the same time as steel prices were lower. The operating result improved to SEK 63 M (53) and was impacted by items affecting comparability of SEK -5 M (-) related to the decision to centralize warehousing and production operations in the Baltics, which was communicated during the second quarter. Adjusted for the items affecting comparability and inventory gains and losses of SEK -6 M (0) the underlying operating result increased to SEK 74 M (52), which is mainly explained by an increased gross margin and improved efficiency in the production operations in Finland.