BE Group
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BE Group (BEGR) investor relations material

BE Group Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary27 Jan, 2026

Executive summary

  • Net sales declined 16% year-over-year to SEK 3,934 M, reflecting weak demand in the Nordic steel market and restructuring impacts.

  • Operating result fell sharply to SEK -586 M from SEK -49 M, mainly due to significant write-downs and restructuring costs.

  • Cash flow from operating activities was SEK 2 M, down from SEK 105 M the previous year.

  • Leadership transition: Christoffer Franzén served as Acting CEO; Johan Wiig to assume CEO role in February 2026.

Financial highlights

  • Fourth quarter net sales decreased 10% year-over-year to SEK 925 M.

  • Underlying operating result for Q4 was SEK -52 M, compared to SEK -15 M last year.

  • Full-year earnings per share dropped to SEK -35.54 from SEK -3.21.

  • Gross margin for the year was 10.1%, down from 11.1% in 2024.

  • Net debt (excl. IFRS 16) at year-end was SEK 297 M, with a net debt/equity ratio of 30.7%.

Outlook and guidance

  • Construction segment recovery expected to continue, with steel prices forecasted to rise 3-4% in early 2026 due to CBAM and protective measures.

  • Focus remains on capital discipline, cost measures, restoring Finnish efficiency, and sustainability initiatives.

When will Finnish operations fully recover efficiency?
What market conditions drove goodwill impairment?
How will rising steel prices impact gross margin?
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Frequently asked questions

BE Group is a Swedish company that operates as a trading and service company in the steel, stainless steel, and aluminum sectors. It provides a wide range of products, including commercial steel, stainless materials, and aluminum, catering to industries such as construction, manufacturing, and engineering. The company also offers processing services such as cutting, slitting, and surface treatment, helping customers meet specific material requirements for their projects. BE Group focuses on streamlining material supply chains, providing value-added services that enhance efficiency and reduce costs for industrial customers. The company is headquartered in Malmö, Sweden, and its shares are listed on the Stockholm Stock Exchange.

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