BE Group’s operating result for the first quarter 2021 is estimated to be better than expected
BE Group’s operating result for the first quarter 2021 is assessed to exceed the company’s profitability targets due to higher steel prices, improved margins and lower costs. The Group’s net sales is estimated to 1 100 MSEK (1 118). The underlying operating result is expected to amount to between SEK 65 – 70 M (42). The operating result including inventory gains is expected to increase significantly and amount to between SEK 78 – 85 M (-4). The operating result for the first quarter 2020 was affected by items affecting comparability of SEK -35 M.
During the beginning of the year, the market has continued to recover and the steel prices that rose sharply at the end of 2020 has continued to rise. This, together with good cost control has led to a strong first quarter for BE Group.
All figures in this press release are preliminary and the final report for the first quarter 2021 will be published on April 20, 2021 at 2:00 pm CET. BE Group will not make any further comments until after the interim report for the first quarter has been published.
For further information, please contact:
Peter Andersson, President and CEO
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 BE Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8.45 am CET on March 31, 2021.
BE Group, which is listed on the Nasdaq Stockholm exchange, is a trading and service company in steel, stainless steel and aluminium. BE Group offers efficient distribution and value-adding production services to customers primarily in the construction and manufacturing industries. In 2020, the Group reported sales of SEK 3.7 billion. BE Group has approximately 630 employees, 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.