The Group & Parent Company

Net financial items and tax

The Group’s consolidated net financial items in the fourth quarter amounted to SEK 4 M (-2), of which net interest was SEK -5 M (-6). During the quarter, interest expenses related to leasing according to IFRS 16 amounted to SEK -2 M (-2). Net financial items for the full-year amounted to SEK -18 M (-22) and net interest to SEK -24 M (-26), of which SEK -9 M (-10) relates to leasing according to IFRS 16.

Taxes for the fourth quarter amounted to SEK 11 M (14) and was SEK 66 M (29) for the full-year. The positive tax effect of SEK 66 M is mainly attributable to capitalized loss carryforwards of SEK 41 M and tax reversal of the impairment in Finland of SEK 23 M. Profit after tax amounted to SEK -37 M (-57) and was SEK -538 M (-42) for the full-year.

Cash flow

The Group’s consolidated working capital amounted to SEK 546 M (628) at the end of the period and the average working capital tied-up for the fourth quarter was 15.1 percent (16.1). The lower working capital is mainly explained by decreased inventory value, which amounted to SEK 615 M (858) at the end of the period. The decrease in inventory value is due to decreased inventory levels and lower average prices.

Cash flow from operating activities amounted to SEK -5 M (53) during the quarter and amounted to SEK 2 M (105) for the full-year. Cash flow from investing activities amounted to SEK -9 M (-26) for the fourth quarter and to SEK -18 M (-84) for the full-year, of which SEK 17 M is related to a new business system. Cash flow after investments thus amounted to SEK -14 M (27) during the fourth quarter and to SEK -16 M (21) 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 211 M (159) and the interest-bearing net debt excl. IFRS 16 was SEK 297 M (340). Equity amounted to SEK 967 M (1,390) at the end of the period. The decrease is mainly connected to write-down of goodwill of SEK -409 M, which was carried out during the second quarter.

During the third quarter, BE Group conducted a rights issue that provided the company with net proceeds of around SEK 135 M. Through the rights issue the share in capital increased by SEK 130 M to SEK 390 M and the total number of shares increased by 6 491 602 to 19 501 726. During the fourth quarter, the extraordinary general meeting resolved on reduction of the share capital without cancellation of shares for allocation to non-restricted equity. Once the reduction of the share capital has been executed, the share capital will amount to SEK 48,754,315.00. The reduction shall be made without cancellation of shares, which means that the share’s quota value will change from SEK 20.0 to SEK 2.5 per share.

Organization, structure and employees

The number of employees amounted to 513 compared to 626 at the same time last year. The average number of employees during the year amounted to 555 (640). The decrease is mainly attributable to the closure of the Polish unit and the site in Arvika.

Johan Wiig will assume the position as President and CEO on February 2, 2026. Johan has extensive experience with full overall responsibility for results and a strong track record of driving strategic development and execution within several global industrial companies, including SSAB, Scania and Uddeholm.

Parent Company & consolidated items

Parent Company & consolidated items include the Parent Company and Group eliminations. For additional information see the Annual Report for 2024. 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 28 M (12) 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 -25 M (-18), SEK 23 M (2) was allocated to the subsidiaries. The operating result amounted to SEK 3 M (-6) for the quarter. Sales for the full-year amounted to SEK 129 M (111) and the operating result was SEK 9 M (46). The operating result is charged with write-down of capitalized expenses for a new business system of SEK -31 M, which was carried out in the second quarter.

Net financial items for the quarter amounted to SEK 9 M (-12). Profit before tax amounted to SEK 12 M (-73) and profit after tax increased to to SEK 13 M (-59). At the end of the period, cash and equivalents in the Parent Company amounted to SEK 61 M (5).

Net financial items for the year amounted to SEK -221 M (-2) mainly attributable to write-down of shares in group company of SEK -234 M, which was carried out in the second quarter. Profit before tax amounted to SEK -212 M (-11) and profit after tax amounted to SEK -213 M (-10). Investments in the Parent Company amounted to SEK 17 M (92) mainly attributable to a new business system.