High delivery levels and a solid result for 2023

Year-end report 1st of janary 2023-31st December for the Be-Ge Group.

High delivery levels and a solid result for 2023

The financial year for the Be-Ge Group ended on December 31st and the results shows that group businesses continue to deliver good results. The Be-Ge group enters its anniversary year in 2024, as a 90-year-old family-owned and well-consollidated group.

  • The Group's sales increased with 125 MSEK compared to 2022 and the turnover reaches 1 505 MSEK. The turnover has increased within all the groups divisions, but primarily within the Seating Division.
  • Earnings before taxes amounted to MSEK 134 for the fiscal year of 2023 compared to the 2022 results of 89 MSEK, which represent a 45 MSEK and a 50% increase. The result has both improved within the Be-Ge Seating and the Be-Ge Component division, while the results in the Be-Ge Vehicle Division is slightly lower than the previous year.
  • The Group employed 563 employees, whereof 160 employees in our companies outside Sweden.
  • The investments in the businesses during the year amounted to MSEK 41 (l.y. MSEK 51).

The year has been characterized by geopolitical uncertainty, high inflation, high interest rate and weak currency. The group has despite these challenges been able to deliver results beyond expectations.

The Groups customers within the transport and infrastucture sector have had high incoming order stocks and long delivery times for its products. A continued good demand within these segments in combination with a decrease in incoming order stocks have resulted in high requests and high delivery levels for the groups production companies. The results are therefore very satisfactory both within the Be-Ge Component Division and the Be-Ge Seating Division, in the Seating Division both sales and results ended at record high levels.

The demand within the Vehicle Division has been negatively impacted by the interest rate environment. The companies started the 2023 year with high order stocks, and increased availability in vehicles during the year has attributed to high delivery levels. With good deliveries and a continued good aftermarket service, the division have also had a satisfactory fiscal year.

The CEO of Be-Ge Företagen AB Håkan Hjalmarsson comments:
'The Group has despite all uncertainties impacting the year of 2023, been able to stay strong and deliver a very satisfactory result. The sectors that the companies in the group work towards have shown resilience against the recession which parts of the economy has suffered. This resilience, together with great efforts from our employees have made the year of 2023 very successful.

At the start of the fiscal year of 2024, the Group companies can sense a slowdown in demand. With decreasing inflation and decreased interest rates the economy has a chance to make a soft landing and there may be opportunities for a reset soon.

With loyal and experienced employees, a succesful 2023 and a solid balance sheet, the Be-Ge Group looks forward to its anniversary year of 2024.'

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