BUSINESS AREA
SWEDEN & POLAND

The business area includes the Group’s operations in Sweden consisting of the companies BE Group Sverige, BE Group Produktion Arvika, the joint venture ArcelorMittal BE Group SSC AB as well as the Polish operation BE Group Poland.

Fourth quarter

Net sales decreased by -20 percent in the fourth quarter compared to last year and amounted to SEK 621 M (777). The decreased sales is explained by negative price and mix effects of -12 percent and negative organic tonnage growth of -8 percent driven by the slowdown in the construction sector. The operating result amounted to SEK -17 M (-15). Adjusted for inventory losses of SEK -13 M (-28), the underlying operating result amounted to SEK -4 M (13).

The Swedish operations provided a negative underlying operating result compared to last year as a result of the weak demand within the construction sector, where tonnage decreased by -29 percent, and declining steel prices. In the Polish operations, the volume rose but the result was negative as a consequence of lower steel prices and a low gross margin.

Our joint venture AMBE provided a strong operating result as a result of increased volumes and a strong gross margin.

Full-year 2023

Net sales decreased by -23 percent compared to last year, amounting to SEK 2,641 M (3,408). The decline is explained by negative organic tonnage growth of -15 percent and price and mix effects of -8 percent. The decrease in tonnage is explained by a sharp slowdown in demand from the construction sector. Demand within the manufacturing industry was stable. The operating result amounted to SEK -24 M (217). Adjusted for inventory losses of SEK -59 M (-19) and items affecting comparability of SEK -4 M (-), the underlying operating result amounted to SEK 39 M (236).