Second quarter
- Net sales increased to
SEK 2,044 M (1,403) -
The underlying operating result increased to
SEK 291 M (133) -
The operating result increased to
SEK 313 M (158), including inventory gains ofSEK 22 M (25) -
Result after tax increased to
SEK 251 M (127) -
Cash flow from operating activities increased to
SEK 127 M (81) -
Earnings per share increased to
SEK 19.30 (9.74) -
The acquired assets of
Hercules Rebar was taken over from Hercules Grundläggning AB -
Agreement was signed to acquire all shares in
Goodtech Solutions Manufacturing AB with take-over onSeptember 1 at the latest -
Lecor Stålteknik was sold with handover on
July 1
Statement from the CEO
Continued high steel prices made the second quarter into a new record quarter with a sales growth of 46%, despite a decrease in delivered tonnage of 14%. The high sales in combination with good cost control led to an increased operating result of
Over the past 12 months,
Steel price trend
The war in
From very high levels, steel prices have declined like a kind of slow leak in the second quarter. Demand is lower than normal due to high inventories following the wave of hoarding in connection with the invasion and continued disruptions in the supply chains. In the third quarter, we will probably see lower prices for some product types. At the beginning of July, we see that the price of scrap is rising again, which may indicate that the price of scrap-based products, such as beams, bars and rebar, may have bottomed out and are heading up again.
In the long term, there are many indications suggesting a continuation of high prices. High gas prices this winter might lead to high steel prices. The transition to sustainable steel production requires huge investments, which in turn require a sustainable price level. A sharp increase in the amount of defence spending and rearmament makes steel sought after and expensive. Furthermore, the reconstruction of
Acquisitions and divestments
On
On
On
Future outlook
The situation in the surrounding world makes it difficult to predict the future. What we know is that overall steel prices will be lower in Q3 than in Q2. This will entail a margin contraction, which we have already seen in the end of the quarter. However, for customers with six-month contracts, this entails the opposite. The most important thing for
Finally, I would like to welcome all the new employees to
For further information, please contact:
Tel: +46 706 53 76 55, email: peter.andersson@begroup.com
Christoffer Franzén, CFO
Tel: +46 705 46 90 05, email: christoffer.franzen@begroup.com
This information is information that
https://news.cision.com/be-group-ab/r/be-group-interim-report-january---june-2022,c3600782
https://mb.cision.com/Main/1831/3600782/1604011.pdf
https://mb.cision.com/Public/1831/3600782/b993a1073c00f15a.pdf
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