YEAR-END Report
BE Group AB (publ)
January – December 2023
Fourth quarter 2023
- Net sales decreased by 20% to SEK 1,177 M (1,472)
- The underlying operating result amounted to SEK -17 M (-50)
- The operating result amounted to SEK -37 M (-119), including inventory losses of SEK -20 M (-69)
- Result after tax amounted to SEK -34 M (-101)
- Cash flow from operating activities amounted to SEK 150 M (152)
- Earnings per share amounted to SEK -2.58 (-7.79)
Full-year 2023
- Net sales decreased by 23% to SEK 5,328 M (6,875)
- The underlying operating result amounted to SEK 30 M (488)
- The operating result amounted to SEK -52 M (418), including inventory losses of SEK -76 M (-70) and items affecting comparability
of SEK -6 M (-) - Result after tax amounted to SEK -60 M (324)
- Cash flow from operating activities increased to SEK 491 M (204)
- Earnings per share amounted to SEK -4.59 (24.96)
- A new credit agreement was signed with a credit facility of SEK 775 M
- The Board of Directors proposes that no dividend will be paid for the financial year of 2023
“Cash flow continued to be strong amounting to SEK 150 M (152) and increased to SEK 491 M (204) for the full-year. Lower material prices and pressured market conditions, primarily in the construction sector, caused net sales to drop 20%.”
Peter Andersson, President and CEO
Results overview | 2023 Oct-Dec | 2022 Oct-Dec | Change | 2023 Jan-Dec | 2022 Jan-Dec | Change | |
Resultatöversikt | 2023 okt-dec | 2022 okt-dec | Förändring | 2023 jan-dec | 2022 jan-dec | Förändring | |
Tonnage, thousands of tonnes | Tonnage, tusen ton | 67 | 72 | -5 | 285 | 320 | -35 |
Net sales, SEK M | Nettoomsättning, MSEK | 1,177 | 1,472 | -295 | 5,328 | 6,875 | -1,547 |
Underlying operating result, SEK M | Underliggande rörelseresultat, MSEK | -17 | -50 | 33 | 30 | 488 | -458 |
Operating result, SEK M | Rörelseresultat, MSEK | -37 | -119 | 82 | -52 | 418 | -470 |
Profit/loss for the period, SEK M | Periodens resultat, MSEK | -34 | -101 | 67 | -60 | 324 | -384 |
Earnings per share, SEK | Resultat per aktie, SEK | -2.58 | -7.79 | 5.21 | -4.59 | 24.96 | -29.55 |
Cash flow from operating activities, SEK M | Kassaflöde från den löpande verksamheten, MSEK | 150 | 152 | -2 | 491 | 204 | 287 |
BE Group, which is listed on the Nasdaq Stockholm exchange, is a trading and service company in steel, stainless steel and aluminium. BE Group offers efficient distribution and value-adding production services to customers primarily in the construction and manufacturing industries. In 2023, the Group reported sales of SEK 5.3 billion. BE Group has approximately 680 employees, with Sweden and Finland as its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com.