Year-end report May 1 2022- December 31 2022 for the Be-Ge Group
Challenging times, but the Be-Ge Group is standing strong
The financial year for the Be-Ge Group ended at December 31 2022 is shortened and covers the period 1/5 2022 – 31/12 2022 (8 months). The Group´s business has developed in a positive way during the period.
For the recent 12 months period (1/1 - 31/12 2022) both sales and earnings are the highest in the Group’s history.
- The Group’s sales amounted to MSEK 949 for the eight months period and the recent 12 months 1/1 – 31/12 2022 It was MSEK 1 379. For last financial year 1/5 2021 – 30/4 2022 the sales amounted to MSEK 1 204.
- Earnings before taxes amounted to MSEK 65 for the period 1/5 -31/12 2022. The result is better than expected, considering the uncertainty during the year with e.g. the war in Ukraine. For the recent 12 months period 1/1 – 31/12 2022 the earnings before taxes were MSEK 89 compared to MSEK 81 for last fiscal year.
- The Group employed 556 persons, whereof 154 employees in our companies outside Sweden.
- Investments in the operations during the year amounted to MSEK 51 (l.y. MSEK 45).
The year had been characterized by high activity in the transport and infrastructure segments. This has meant that the Group’s manufacturing units within the Be-Ge Seating Division and The Be-Ge Component Division continued to have high demand. The problems with deliveries of raw materials and components have gradually improved during the year.
The price increases for raw materials have slowed down during the year and decline in the prices can now be seen. However, the increased energy prices in combination with general cost inflation have led to production costs continuing to rise. The price increases implemented by the Group’s manufacturing companies have not fully compensated for the cost increases.
The demand for new vehicles has continued to be good within the Be-Ge Vehicle Division and delivery times have gradually improved. This, combined with good demand in the service market segment, has resulted in a successful year for the division.
The CEO of Be-Ge Företagen AB Håkan Hjalmarsson comments:
“During the financial year Be-Ge Group has met a lot of challengers: Inflation that was at historically high levels, increasing energy prices, continued war in Ukraine and increased interest rates. Despite this, the Be-Ge Group achieves a very good result, with the last 12-month period being the best in the Groups history. In addition to a high demand within all three divisions, this has been made possible through an impressive effort by all employees within Be-Ge. With commitment and flexibility, the difficulties faced by the businesses have been solved.
During the year, the Be-Ge Group continued its commitment to sustainability through investments in, among other things, solar cells and environmentally friendly car wash. Automation investments have also been carried out, with the investment in a modern fiberlaser in Be-Ge Plåtindustri AB being the most important. For the coming financial year, the board of Be-Ge Företagen AB has decided to continue to invest large amounts in the Group’s operations.
There are both challenges and uncertainty to consider for the fiscal year 2023. Continued high activity regarding various infrastructure projects and the conversion to a fossil-free vehicle fleet, however, create great business opportunities based on how the Group’s companies are positioned. Together with a strong financial position, Be-Ge is prepared to take further steps forward!”