BE Group Q3 2014 – market remains challenging

• Net sales rose by 1 percent compared with the same period last year, amounting to SEK 923 M (916). Shipped tonnage decreased by 7 percent.
• The operating result weakened to SEK -1 M (13) and the underlying operating result to SEK 7 M (18).
• Cash flow after investments was SEK -8 M (-41).
• Earnings after tax for the continuing operations were SEK -11 M (1) and from operations for sale SEK -5 M (-2).

BE Group’s acting President and CEO, Lars Engström, comments on the report:

“Following my first few months at BE Group, I can conclude that the market is still under considerable pressure. Our priority must be to focus on sales and customer relations, while keeping costs under control. Our position as the largest independent player in the Swedish and Finnish markets can be developed further.

During the quarter, the earlier signals of a slight improvement in demand gave way to a slightly weaker market compared to the same period last year. Business Area Sweden is seeing reduced sales and tonnage, while in Finland, despite the current climate, we improved our sales, primarily as a result of increased market share.

In terms of results, gross earnings for the quarter were in line with the same period last year. However, the operating result declined, largely as a result of non-recurring costs associated with the change of CEO and additional measures to improve profitability.

The demand in the fourth quarter is expected to be at the same level as in the third quarter.”

For further information, please contact:

Lars Engström, acting President and CEO
tel.: +46 (0)734-11 79 01 e-mail: lars.engstrom@begroup.com

Andreas Karlsson, CFO
tel.: +46 (0)709-48 22 33  e-mail: andreas.karlsson@begroup.com

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.

http://www.media-server.com/m/p/oqiysaer

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 2013, the Group reported sales of SEK 4.0 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.

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