BUSINESS AREA
FINLAND & BALTICS

The business area includes the Group’s operations in Finland. The Baltic unit was closed during the quarter.

Fourth quarter

Net sales amounted to SEK 483 M (564), which is a decrease by 15 percent compared to the fourth quarter last year. It is explained by closure of the Baltic unit of -11 percent and negative price and mix effects of -5 percent partly compensated by organic tonnage growth of 1 percent. The operating result amounted to SEK -15 M (-21) and adjusted for inventory losses of SEK -6 M (-7), the underlying operating result amounted to SEK -10 M (-14).

The Finnish operations provided a negative underlying operating result. Tonnage increased somewhat but was counteracted by lower steel prices and a pressured gross margin.

The closure of the Baltic unit was completed during the quarter and the shares in the company were divested in December. The closure generated a positive cashflow of approximately SEK 30 M and will have a positive impact on the Group’s future result.

Full-year 2024

Net sales decreased by 16 percent compared to last year, amounting to SEK 2,290 M (2,729). The decline is explained by negative price and mix effects of -10 percent and closure of the Baltic unit of -7 percent. Tonnage increased organically by 1 percent. Demand strongly increased in long products while demand in flat products decreased compared to last year. The operating result amounted to SEK -11 M (-22) and adjusted for inventory losses of SEK -4 M (-17) and items affecting comparability of SEK -19 M (-2), the underlying operating result increased to SEK 12 M (-5).

Business Area Finland & Baltics sales growth and underlying operating result per quarter
Results overview 2024
Oct-Dec
2023
Oct-Dec
2024
Full-year
2023
Full-year
Resultatöversikt 2024
okt-dec
2023
okt-dec
2024
helår
2023
helår
Tonnage, thousands of tonnes Tonnage, tusen ton 29 34 140 151
-of which organic tonnage, thousands of tonnes – varav organiskt tonnage, tusen ton 29 29 131 130
Net sales, SEK M Nettoomsättning, MSEK 483 564 2,290 2,729
Operating result, SEK M
Rörelseresultat, MSEK
-15 -21 -11 -22
Operating margin, % Rörelsemarginal, % -3.3% -3.8% -0.5% -0.8%
Underlying operating result, SEK M Underliggande rörelseresultat, MSEK -10 -14 12 -5
Underlying operating margin, % Underliggande rörelsemarginal, % -2.1% -2.6% 0.5% -0.2%