<p>Sweden headquartered steel trading firm BE Group has again delivered a strong performance in January-March 2022 quarter due to continued high steel prices and good cost control. The operating margin rose to 10.0%, which is by far the best that has been delivered for the first quarter since the stock exchange listing in 2006. Compared to the corresponding quarter in 2021, net sales increased by 68%and the underlying operating result increased to SEK 180 million. Rising steel prices led to inventory gains of SEK 4 million and the operating result increased to SEK 184 million.</p> <p>About 10% of BE Group’s total steel purchases in 2021 came from Russian-controlled steel producers and BE Group immediately ceased orders and payments to companies subject to global sanctions. BE Group is carefully monitoring developments and reviewing what can be done proactively to ensure the delivery of steel and to safeguard its capacity to support customers in these challenging times.</p> <p>BE Group’s President and CEO Mr Peter Andersson said “The external situation makes it hard to predict the future. What we know is that steel prices will remain high in the second quarter and, in the short term we do not see any decline in demand. This means that there are good possibilities for BE Group to deliver a significantly improved second quarter compared to the first quarter this year. In addition to carefully monitoring developments and keeping our ears very close to the ground, BE Group will continue to build on a good and long-term profitable company and to create a stable foundation for the future. The primary focus at the moment is to secure deliveries of steel and, consequently, our ability to support our customers.”</p> <p>BE Group is a trading and service company, offering a broad range of steel, stainless steel and aluminium products. With extensive expertise and efficient processes in purchasing, logistics and production, it offers inventory sales, production service and direct deliveries to customers. The customers mainly operate in the manufacturing and construction industries in Sweden, Finland and the Baltics.</p>
<p>Sweden headquartered steel trading firm BE Group has again delivered a strong performance in January-March 2022 quarter due to continued high steel prices and good cost control. The operating margin rose to 10.0%, which is by far the best that has been delivered for the first quarter since the stock exchange listing in 2006. Compared to the corresponding quarter in 2021, net sales increased by 68%and the underlying operating result increased to SEK 180 million. Rising steel prices led to inventory gains of SEK 4 million and the operating result increased to SEK 184 million.</p> <p>About 10% of BE Group’s total steel purchases in 2021 came from Russian-controlled steel producers and BE Group immediately ceased orders and payments to companies subject to global sanctions. BE Group is carefully monitoring developments and reviewing what can be done proactively to ensure the delivery of steel and to safeguard its capacity to support customers in these challenging times.</p> <p>BE Group’s President and CEO Mr Peter Andersson said “The external situation makes it hard to predict the future. What we know is that steel prices will remain high in the second quarter and, in the short term we do not see any decline in demand. This means that there are good possibilities for BE Group to deliver a significantly improved second quarter compared to the first quarter this year. In addition to carefully monitoring developments and keeping our ears very close to the ground, BE Group will continue to build on a good and long-term profitable company and to create a stable foundation for the future. The primary focus at the moment is to secure deliveries of steel and, consequently, our ability to support our customers.”</p> <p>BE Group is a trading and service company, offering a broad range of steel, stainless steel and aluminium products. With extensive expertise and efficient processes in purchasing, logistics and production, it offers inventory sales, production service and direct deliveries to customers. The customers mainly operate in the manufacturing and construction industries in Sweden, Finland and the Baltics.</p>
