Q2 2011 - Continued growth for BE Group
- In the second quarter, net sales rose by 14 percent compared with the year-earlier period, amounting to SEK 1,597 M (1,399). Shipped tonnage rose by 7 percent.
- The operating result amounted to SEK 66 M (86), with an operating margin of 4.2 percent (6.2).
- During the second quarter, a decision was made to make additional investments in Finland and Poland to strengthen BE Group’s production offering.
The President and CEO of BE Group, Roger Johansson, made the following comments on the report for the second quarter of 2011:
“Despite increased sales and improved profit compared with the first quarter, we are not satisfied with the result which was burdened by investments that have not yet achieved their full impact.
However, it is pleasing that demand for our production service offering is increasing. Consequently, our continued efforts will include, as a stage in our repositioning of BE Group in the Polish market, the establishment of a production service center in Trebaczew, Poland during the second half of the year.
Over the next few quarters, our focus will be on continuing our internal efficiency enhancement process and on realizing the envisaged return on the investments that have been approved.
In our assessment, demand will continue to rise in our markets during the second half of the year. Growth will be generated among customers in both the engineering and construction sectors.”
For further questions, please contact:
Roger Johansson, President and CEO, BE Group
Tel. 46 (0)733 188 758, e-mail: roger.johansson@begroup.com
Torbjörn Clementz, CFO and Executive Vice President
Tel. 46 (0)708 690 788, e-mail: torbjorn.clementz@begroup.com
Today, at 1 pm CET, Roger Johansson and Torbjörn Clementz will comment on the 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/53x4k1yd/
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 in this report 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. The information was released for publication on July 14, 2011 at 11:00 a.m. CET.
BE Group, listed on the Nasdaq OMX Stockholm exchange, is one of Europe’s leading trading and service companies for steel and other metals. 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 Group reported sales of SEK 5.1Bn. 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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