Strongly improved results for BE Group
Net sales for the first quarter of 2011 amounted to SEK 1,519 M (1,074), which represents an increase of 41 percent. Shipped tonnage rose by 23 percent.
The operating result for the quarter improved by SEK 73 M to SEK 45 M (loss 28) and underlying EBITA amounted to SEK 51 M (loss 8).
In February, the Swedish metal processing group RTS was acquired, strengthening BE Group’s production offering to major engineering customers.
The operations in Denmark were closed. Costs amounting to SEK 4 M for the closure were charged against earnings for the quarter.
The President and CEO of BE Group, Roger Johansson, made the following comments on the report for the first quarter of 2011:
“The fact that we strengthened our first-quarter performance is satisfying. Demand for our products and services increased gradually over the quarter and net sales rose strongly compared with the corresponding period in 2010. It is pleasing that all business areas delivered improved results and that we were also able to achieve profitability in Business Area CEE.
It is our assessment that demand will continue to rise during 2011. Sales prices are expected to rise in the short term, while the longer-term trend is currently more difficult to assess.”
For further information, 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 13:00 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/nqp8y9tc
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. This information was submitted for publication on April 28, 2011 at 7.45 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 5.1 Bn. BE Group have more than 900 employees in ten countries, with Sweden and Finland being its largest markets. The head office is located in Malmö, Sweden.
Read more about BE Group at www.begroup.com
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