BE Group’s capital markets day 2010
BE Group AB is holding a capital markets day in Stockholm, Sweden, today between 2.00 p.m. and 5.00 p.m. CET. The program and presentations will be available in pdf format from the BE Group website at www.begroup.com->Investor Relations.
The CEO, Lars Bergström, will provide a review of developments in 2009, market conditions and the Group’s business model and strategy. He will repeat his message from the first quarter, which told of rising steel prices resulting from higher costs for raw materials and increased demand from BE Group’s customers. In the strategy section of his presentation, he will talk about how BE Group is to achieve its operational objectives, which include growing more rapidly than the steel market, increasing the Group’s share of production services to 50 percent and strengthening its operational excellence.
The deputy CEO and CFO, Torbjörn Clementz will present the financial trend up to and including the first quarter of 2010 and the initiatives that have been taken to reduce the Group’s cost base and enhance its capital efficiency. He will also announce that BE Group has signed a new three-year credit agreement with Skandinaviska Enskilda Banken and Svenska Handelsbanken. The total credit facility amounts to SEK 1,300 M, including guarantee facilities, and matures in May 2013. The Group’s financial targets will be subject to review over the year. Currently, the targets remain intact with the exception of net debt in relation to total equity, for which the target has been adjusted to a maximum of 125 percent, previously 150 percent.
Senior Vice President Purchasing and Production, Per Horstmann, will present current market trends, prices and fluctuations in global steel consumption.
The Business Area Managers for Sweden, Finland and CEE will describe their operations and provide examples of how the Group’s strategy is being implemented. They will focus on deepened cooperation projects with customers, efficient logistics solutions and growth in mature and new markets.
In conclusion, Lars Bergström and Torbjörn Clementz will provide an update on the general market situation and developments in the second quarter thus far. As previously announced the demand and sales prices have increased during the second quarter. Compared with the first quarter, delivered tonnage per working day has risen by more than 15 percent to date. Over the same period, the average sales price has risen by slightly less than 10 percent.
Lars Bergström, President and CEO Tel. +46 (0)702 240 5235 E-mail: lars.bergstrom@begroup.com Torbjörn Clementz, CFO and Deputy CEO Tel. +46 (0)70 869 07 88 E-mail: torbjorn.clementz@begroup.com
BE Group, listed on the Nasdaq OMX Stockholm since November 2006, is one of the leading trading and service companies for steel and other metals in Europe. The Group has about 10,000 customers, primarily in the construction and engineering industries. BE Group provides various forms of service for steel, stainless steel and aluminium applications. In 2009, the company reported sales totaling SEK 4.3 billion. BE Group has slightly less than 900 employees in nine countries in northern Europe, where Sweden and Finland are its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com
Tags: