Steel trading and service company BE Group’s operating result for the third quarter 2021 is expected to exceed the company’s profitability targets due to increased demand, higher steel prices and improved margins. Based on the Group´s result up until August, the operating result including inventory gains is estimated to increase significantly and amount to at least SEK 200 million. BE Group’s President & CEO Mr Peter Andersson said “BE Group provided very strong earnings for the first six months and the Group´s net sales increased with 22 percent compared to last year. The operating result increased to SEK 244 million corresponding to an operating margin of 9.7%. Continuous rising steel prices resulted in inventory gains of SEK 43 milion and the underlying operating result increased to SEK 201 milion. We expected demand to continue to be high in the third quarter and this year we can also see that the seasonal effects of the vacation period did not appear. July and August have been two strong months and there is nothing to suggest that September will be weaker” 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.
Steel trading and service company BE Group’s operating result for the third quarter 2021 is expected to exceed the company’s profitability targets due to increased demand, higher steel prices and improved margins. Based on the Group´s result up until August, the operating result including inventory gains is estimated to increase significantly and amount to at least SEK 200 million. BE Group’s President & CEO Mr Peter Andersson said “BE Group provided very strong earnings for the first six months and the Group´s net sales increased with 22 percent compared to last year. The operating result increased to SEK 244 million corresponding to an operating margin of 9.7%. Continuous rising steel prices resulted in inventory gains of SEK 43 milion and the underlying operating result increased to SEK 201 milion. We expected demand to continue to be high in the third quarter and this year we can also see that the seasonal effects of the vacation period did not appear. July and August have been two strong months and there is nothing to suggest that September will be weaker” 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.
