BUSINESS AREA
FINLAND & BALTICS

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

Fourth quarter

Net sales amounted to SEK 564 M (703) which is a decrease by -20 percent compared to the fourth quarter last year. It is explained by negative price and mix effects of -21 percent and organic tonnage development of -3 percent partly compensated by positive currency effects of 4 percent. The operating result amounted to SEK -21 M (-98) and adjusted for inventory losses of SEK -7 M (-39), the underlying operating result amounted to SEK -14 M (-59).

The Finnish operations provided a negative underlying operating result as a result of declining steel prices, lower demand and a pressured gross margin.

Volumes increased in the Baltic operations but the result was negative as a result of declining steel prices and a low gross margin.

Full-year 2023

Net sales decreased by -22 percent compared to last year, amounting to SEK 2,729 M (3,497). The decline is explained by negative price and mix effects of -22 percent and negative tonnage development of -8 percent partly compensated by positive currency effects of 8 percent. Mainly, sales of long and flat products decreased compared to last year. The operating result amounted to SEK -22 M (217) and adjusted for inventory losses of SEK -17 M (-50) and items affecting comparability of SEK -2 M (-), the underlying operating result amounted to SEK -5 M (267).