The Group & Parent Company
Net financial items and tax
The Group’s consolidated net financial items in the fourth quarter amounted to SEK -2 M (-5), of which net interest amounted to SEK -6 M (-5). During the quarter, interest expenses related to leases according to IFRS 16 amounted to SEK -2 M (-2). Net financial items for the full-year amounted to SEK -22 M (-23) and net interest to SEK -26 M (-25), of which SEK -10 M (-10) relates to leases according to IFRS 16.
Taxes for the fourth quarter amounted to SEK 14 M (8) and to SEK 29 M (15) for the full-year. Profit after tax amounted to SEK -57 M (-34) and was SEK -42 M (-60) for the full-year.
Cash flow
The Group’s consolidated working capital amounted to SEK 628 M (683) at the end of the period and the working capital tied-up for the fourth quarter was 16.1 percent (15.5). The lower working capital is mainly explained by decreased accounts receivable, which amounted to SEK 419 M (532) at the end of the period. Cash flow from operating activities amounted to SEK 53 M (150) during the quarter and to SEK 105 M (491) for the full-year. Cash flow from investing activities amounted to SEK -26 M (-63) during the fourth quarter and to SEK -84 M (-145) for the full-year of which SEK -64 M is related to a new business system. Cash flow after investments thus amounted to SEK 27 M (87) during the fourth quarter and to SEK 21 M (346) for the full-year.
Financial position and liquidity
At the end of the period, consolidated cash and cash equivalents, including overdraft facilities, amounted to SEK 159 M (224) and the Group’s net debt excl. IFRS 16 was SEK 340 M (259). Equity amounted to SEK 1,390 M (1,424) at the end of the period.
Organization, structure and employees
The number of employees decreased to 626 compared to 657 at the same time last year. The decrease is mainly attributable to the closure of the Baltic unit. The average number of employees during the year amounted to 640 (678).
Parent Company & consolidated items
Parent Company & consolidated items include the Parent Company and Group eliminations. For additional information see the Annual Report for 2023.
The effects regarding IFRS 16 were reported under Parent Company & consolidated items and have not been allocated to the two business areas.
Parent Company
Sales for the fourth quarter of the Parent Company, BE Group AB (publ), amounted to SEK 12 M (24) and derived from intra-Group services. These intra-Group services mainly include the subsidiaries’ use of the BE Group brand and central expenses for IT and Finance. These expenses are distributed and invoiced to all subsidiaries in the Group. In the result follow-up of the business areas, these intra-group expenses have been eliminated except for expenses for IT and business systems. Out of the total costs for the Parent Company, of SEK -18 M (-11), SEK 2 M (11) was allocated to the subsidiaries. The operating result amounted to SEK -6 M (13) in the quarter. For the full-year, net sales amounted to SEK 111 M (128) and the operating result to SEK 46 M (64).
Net financial items for the quarter amounted to SEK -12 M (4). Profit before tax amounted to SEK -73 M (-81), due to Group contributions provided, and profit after tax amounted to SEK -59 M (-62). At the end of the period, cash and equivalents in the Parent Company amounted to SEK 5 M (64).
Net financial items for the full-year amounted to SEK -2 M (97). Profit before tax amounted to SEK -11 M (63) and profit after tax amounted to SEK -10 M (70). Investments in the Parent Company amounted to SEK 92 M (44) mainly attributable to a new business system.