BE Group year-end report 2011 – strong cash flow in Q4
• Net sales rose by 2 percent in the fourth quarter compared with the year-earlier period, amounting to SEK 1,405 M (1,383). Shipped tonnage rose by 5 percent.
• The operating result weakened to a loss of SEK 19 M (8) as a consequence of inventory losses of SEK 26 M (15) and non-recurring items amounting to a net negative SEK 11 M.
• The underlying operating result improved to SEK 18 M (7) and cash flow from operating activities improved strongly to SEK 162 M (58).
• The announced profit improvement program is progressing according to plan. Costs totaling SEK 26 M were charged against the fourth quarter.
• The Board of Directors proposes that a dividend of SEK 0.25 per share (-) be paid to shareholders.
The CEO of BE Group, Roger Johansson, made the following comments on the report for the fourth quarter of 2011:
“The fourth quarter was characterized by continued uncertainty regarding the economy and price trends, both among producers and customers. Combined with inventory losses and non-recurring items, this has led to BE Group reporting an operating loss.
It is positive to note that we improved the underlying operating margin and generated strong cash flow over the quarter.
The profit improvement program that we adopted in the last quarter is now being implemented. The program will be completed according to plan in the first quarter of 2012.
Over the next six months we foresee stable demand with an expected rising price scenario based on price trends among producers. Combined with implemented investments and the ongoing profit improvement program, this means we look forward to 2012 with a certain degree of confidence.”
For further information, please contact:
Roger Johansson, President and CEO
tel.: +46 (0)733 188 758 e-mail: roger.johansson@begroup.com
Torbjörn Clementz, CFO and Executive Vice President
tel.: +46 (0)70 869 07 88 e-mail: torbjorn.clementz@begroup.com
Today, at 9:00 a.m. CET, Roger Johansson and Torbjörn Clementz will comment on development at a conference with market analysts and the press. 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. Make sure to include the full link.
http://storm.zoomvisionmamato.com/player/begroup/objects/bc0qd3n7/
The following telephone numbers can be used to participate in the presentation:
Sweden: +46 (0)8 505 598 53
UK: +44 203 043 24 36
US: +1 866 458 40 87
The information disclosed here is such that BE Group AB (publ) is required to disclose pursuant to the Swedish Securities Exchange and Clearing Operations Act and/or the Swedish Financial Instruments Trading Act. This information was submitted for publication on February 7, 2012 at 7:45 a.m. CET.
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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