S- MALMÖ, Sweden--(BUSINESS WIRE)--Regulatory News:
- Net sales decreased by 3 percent compared with last year and amounted to SEK 1,009 M (1,039).
- The operating result weakened to SEK -30 M (-8) and the underlying operating result to SEK -9 M (-4).
- Cash flow after investments was SEK 46 M (36).
- During the period, the Czech operations, previously classified as operations for sale, were reinstated as normal operations. Consequently, the operating result for the period was charged with a non-recurring expense of SEK 14 M.
- The Board of Directors proposes that no dividend be paid to shareholders for the 2014 financial year.
- The Board of Directors will propose a rights issue of approximately SEK 250 M.
BE Group’s acting President and CEO, Lars Engström, comments on the report:
“Although 2014 was a difficult year as a whole, development in the market towards the end of the year improved compared with the preceding quarter and the corresponding period last year.
In Sweden, sales and tonnage in the fourth quarter were at the same level as last year, while in Business Area Finland we noted a sharp increase in both tonnage and sales. Finland is driven mainly by a favorable trend in the engineering sector, but also by successful investment in the construction sector, where, until now, we have been weaker in Finland than in Sweden. It is also worth highlighting our operations in the Baltic States, where all units are showing growth and positive results.
During the quarter, we decided to reinstate the operations in the Czech Republic, since we have not been able to complete the planned divestment. In connection with this, we recognized impairment in assets that, together with an impairment in BE Group Produktion Eskilstuna, were charged against the period’s operating result in the form of non-recurring expenses totaling SEK 20 M. Consolidated gross earnings and gross margins were more or less unchanged compared with the same period last year.
We expect a certain improvement in demand during the upcoming quarter.”
Today, at 9:00 a.m., Lars Engström and Andreas Karlsson will comment on developments in a press and analyst conference. The conference may be followed via webcast or by phone (see information below).
If you wish to participate via webcast and/or ask questions at the press conference, please copy and paste the following link into your web browser to register online. Please be certain to copy the full link.
The following telephone numbers can be used to participate in the presentation:
Sweden: +46 (0)8 505 56 474
UK: +44 (0)203 364 53 74
USA: +1 855 753 22 30
BE Group, listed on the NASDAQ OMX Stockholm exchange, is a trading and service company in steel and other metals. BE Group provides various forms of service for steel, stainless steel and aluminium applications to customers primarily in the construction and engineering sectors. In 2014, the Group reported sales of SEK 4.2 billion. BE Group has about 800 employees, with Sweden and Finland as its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com
BE Group, listed on the NASDAQ OMX Stockholm exchange, is a trading and service company in steel and other metals. BE Group provides various forms of service for steel, stainless steel and aluminium applications to customers primarily in the construction and engineering sectors. In 2011, the Group reported sales of SEK 5.9 Bn. BE Group has slightly more than 900 employees in ten countries, with Sweden and Finland as its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com
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