YEAR-END Report
BE Group AB (publ)
January – December 2024
Fourth quarter 2024
- Net sales decreased by 12% to SEK 1,033 M (1,177)
- The underlying operating result amounted to SEK -15 M (-17)
- The quarter was affected by items affecting comparability of SEK -28 M (-) related to closure of the unit in Poland
- The operating result amounted to SEK -69 M (-37), including inventory losses of SEK -26 M (-20)
- Result after tax amounted to SEK -57 M (-34)
- Cash flow from operating activities amounted to SEK 53 M (150)
- The closure of the Baltic unit was completed during the quarter
- Earnings per share amounted to SEK -4.36 (-2.58)
Full-year 2024
- Net sales decreased by 12% to SEK 4,667 M (5,328)
- The underlying operating result increased to SEK 51 M (30)
- The period was affected by items affecting comparability of SEK -47 M (-6) related to closure of the Baltic and Polish units
- The operating result amounted to SEK -49 M (-52), including inventory losses of SEK -53 M (-76)
- Result after tax amounted to SEK -42 M (-60)
- Cash flow from operating activities amounted to SEK 105 M (491)
- Earnings per share amounted to SEK -3.21 (-4.59)
- The Board of Directors proposes that no dividend will be paid for the financial year of 2024
“Net sales in the fourth quarter decreased by 12 percent to SEK 1,033 M (1,177) in a descending order attributable to the closure of the Baltic unit, lower material prices and lower demand from OEM customers linked to the automotive industry and a continued weak construction sector. The underlying operating result was in line with the previous year and amounted to SEK -15 M (-17), corresponding to an underlying operating margin of -1.5% (-1.4).”
Peter Andersson, President and CEO
Results overview | 2024 Oct-Dec | 2023 Oct-Dec | Change | 2024 Full-year | 2023 Full-year | Change | |
Resultatöversikt | 2024 okt-dec | 2023 okt-dec | Förändring | 2024 helår | 2023 helår | Förändring | |
Tonnage, thousands of tonnes | Tonnage, tusen ton | 60 | 67 | -7 | 271 | 285 | -14 |
-of which organic tonnage, thousands of tonnes | – varav organiskt tonnage, tusen ton | 60 | 61 | -1 | 260 | 261 | -1 |
Net sales, SEK M | Nettoomsättning, MSEK | 1,033 | 1,177 | -144 | 4,667 | 5,328 | -661 |
Underlying operating result, SEK M | Underliggande rörelseresultat, MSEK | -15 | -17 | 2 | 51 | 30 | 21 |
Operating result, SEK M | Rörelseresultat, MSEK | -69 | -37 | -32 | -49 | -52 | 3 |
Profit/loss for the period, SEK M | Periodens resultat, MSEK | -57 | -34 | -23 | -42 | -60 | 18 |
Earnings per share, SEK | Resultat per aktie, SEK | -4.36 | -2.58 | -1.78 | -3.21 | -4.59 | 1.38 |
Cash flow from operating activities, SEK M | Kassaflöde från den löpande verksamheten, MSEK | 53 | 150 | -97 | 105 | 491 | -386 |
BE Group AB (publ), which is listed on the Nasdaq Stockholm exchange, is a leading independent steel distributor that stores and processes steel, stainless steel, and aluminium for customers primarily in the construction and manufacturing industries. Through the company’s production services, customers can order customized steel components to optimize their production processes. In 2024, the Group reported sales of SEK 4.7 billion. BE Group has approximately 640 employees, with Sweden and Finland as its largest markets. The headquarters is located in Malmö, Sweden. Read more about BE Group at www.begroup.com.