Comments on the report

Fourth quarter

The Group’s consolidated net sales for the period increased by 73 percent compared to last year, amounting to SEK 1,510 M (875). The increase is explained by organic growth of 4 percent, positive price and mix effects of 70 percent and negative currency effects of -1 percent. The market continued to recover in the beginning of the fourth quarter, mainly within the manufacturing industry and OEM customers, in combination with continous rising steel prices. A certain slowdown in demand occured by the end of the quarter as a result of the lack of components within the manufacturing and automotive industries and that December contained fewer construction projects compared to 2020.

The gross profit increased to SEK 283 M (135) with a stronger gross margin compared to last year of 18.7 percent (15.5). The operating result increased to SEK 158 M (18), corresponding to an operating margin of 10.4 percent (2.1). Adjusted for inventory gains of SEK 23 M (6), the underlying operating result thus increased to SEK 135 M (12). The underlying operating margin during the period increased to 9.0 percent (1.4).

Full-year 2021

During the year, the Group’s consolidated net sales increased by 47 percent compared to last year and amounted to SEK 5,388 M (3,672). Tonnage in business area Sweden & Poland increased by 14 percent compared to last year, while Finland & Baltics delivered 10 percent more. Net sales has also been positively affected by rising steel prices and mix effects of 38 percent and negative currency effects of -2 percent.

Gross profit increased to SEK 1,102 M (548) with a strong gross margin of 20.4 percent (14.9).

The operating result increased to SEK 621 M (39), corresponding to an operating margin of 11.5 percent (1.1). Adjusted for inventory gains and losses of SEK 92 M (-17) and items affecting comparability of SEK 0 M (-40), the underlying operating result increased to SEK 529 M (96). The underlying operating margin thus increased to 9.8 percent (2.6).