BE Group Year-end report 2013 – improved earnings during Q4 and new financing agreement
| Source:BE Group AB
· Net sales fell by 4 percent compared with the preceding year, amounting to
SEK 957 M (998). Shipped tonnage decreased by 2 percent.
· The operating result improved to a loss of SEK 4 M (42) and the underlying
operating result improved to SEK 0 M (33).
· Visible effects of cost-reduction and improved gross margin.
· The Board of Directors proposes, as for the preceding year, that no dividend
be paid to shareholders for the 2013 financial year.
· After the end of the reporting period, the Board of Directors has resolved
on a rights issue of SEK 160 M. The issue is fully secured and requires the
approval of an Extraordinary General Meeting to be held on February 11.
Furthermore, a new three year credit agreement has been signed. The total credit
facility amounts to SEK 1,250 M and is dependent on the finalization of the new
The President and CEO of BE Group, Kimmo Väkiparta, comments on the report for
the fourth quarter of 2013:
”The demand levels that we saw following the vacation period generally remained
intact during the quarter, with the exception of the seasonal decline towards
the end of the year. Sales prices also remained largely unchanged in relation to
the preceding quarter. Compared with the preceding year, we see a clearly more
stable market situation.
Combined with an increased gross margin and lower costs, clear effects of our
internal measures have given us a substantial improvement in earnings compared
with the preceding year.
Based on signals from customers, improved demand is indicated for 2014.
Consequently, we expect a recovery in demand in the Group’s markets during the
year compared with the last quarter 2013. The Group's competitiveness will
continue to improve following the implemented efficiency improvement and the new
share issue that has been decided will give us a stronger financial position as
we move forward.”
For further information, please contact:
Kimmo Väkiparta, President and CEO
tel.: +46 (0)705 972 342 e-mail: email@example.com
Torbjörn Clementz, CFO and Executive Vice President
tel.: +46 (0)708 690 788 e-mail: firstname.lastname@example.org
Today, at 09:00 a.m. CET, Kimmo Väkiparta 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.
The following telephone number can be used to participate in the presentation:
Sweden: +46 (0)8 505 56 474
UK: +44 (0)203 364 53 74
US: +1 855 753 22 30
BE Group, listed on the NASDAQ OMX Stockholm exchange, is a trading and service
company in steel and other metals. BE Group provides various forms of service
for steel, stainless steel and aluminium applications to customers primarily in
the construction and engineering sectors. In 2013, the Group reported sales of
SEK 4.0 Bn. BE Group has approximately 800 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
GlobeNewswire, a NASDAQ OMX company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.