Earnings improved despite weak ending to the year
FOURTH QUARTER 2010
• Net sales rose by 37 percent compared with the year-earlier period, amounting to SEK 1,383 M (1,011). Shipped tonnage rose by 21 percent.
• The operating result improved to a loss of SEK 8 M (33) as a consequence of increased sales and lower inventory losses of SEK 15 M (32). The loss after tax was SEK 18 M (35).
• Underlying EBITA1) rose to SEK 11 M (9), while, as in 2009, the underlying EBITA margin amounted to 0.8 percent.
• Earnings per share2) were negative in the amount of SEK 0.37 (0.71) and underlying earnings per share2) were negative in the amount of SEK 0.13 (0.09).
• As a further step in BE Group’s strategy to move forward in the value chain, Lecor Stålteknik was acquired in October.
• The Board of Directors of BE Group AB appointed Roger Johansson as the new President of the company as of January 1, 2011.
FULL-YEAR 2010
• Net sales amounted to SEK 5,129 M (4,308), which represents an increase of 19 percent.
• The operating result improved to SEK 98 M (loss 266), including inventory gains of SEK 23 M (losses 255).
• Underlying EBITA1) amounted to SEK 87 M (4) and the underlying EBITA margin to 1.7 percent (0.1).
• Earnings per share2) rose to SEK 0.58 (loss 5.00) and underlying earnings per share2) were SEK 0.24 (loss 0.99).
• The Board of Directors proposes that no dividend (–) be paid to shareholders for the 2010 financial year.
Please see attachement for the full report.
Roger Johansson, President, BE Group
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
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 2010, the company reported sales totaling SEK 5.1 billion. BE Group has about 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: