Interim Reports Q4 2022 – Presentation

Highlights of the full-year of 2023

  • In full-year 2023, net sales were SEK 134,451m (134,880) and operating income excl. non-recurring items was SEK 414m (831). Earnings declined mainly due to lower volumes following the weaker market demand as well as intensified price pressure in North America. The Group-wide cost reduction and North America turnaround program progressed well, resulting in a positive year-over-year impact of approximately SEK 5.5bn.

Highlights of the fourth quarter of 2023

  • In the fourth quarter, net sales amounted to SEK 35,636m (35,769) and organic sales decreased by 0.8% mainly driven by negative price but also lower volumes, while mix improved. Operating income was SEK -3,215m (-1,964), corresponding to a margin of -9.0% (-5.5). Operating income included non-recurring items of SEK -2,491m (-1,352).
  • Operating income excl. non-recurring items amounted to SEK -724m (-612), corresponding to a margin of -2.0% (-1.7). Business area North America reported an underlying loss of SEK 1,450m, mainly driven by intensified price pressure.
  • Income for the period amounted to SEK -4,113m (-1,922) and earnings per share were SEK -15.23 (-7.12).
  • Operating cash flow after investments improved to SEK 3,871m (242m), mainly driven by improved working capital. This led to an operating cash flow after investments for the full year of SEK 3,064m (-6,118).
  • The Board of Directors proposes that no payment of dividend will be made for 2023.