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).
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% |