BEGRNasdaq StockholmBasic MaterialsIFRS · SEK

BE Group

BE Group AB is an independent steel distributor based in Malmö, Sweden, serving customers across Sweden, Finland, Poland, and the Baltic states. The company stores, processes, and distributes steel, stainless steel, and aluminium, and also supplies customized steel components through its production services.

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Revenue3,934m SEK
−15.7 %y/y
Operating profit (EBIT)-586m SEK
−1,095.9 %y/y
EBIT margin-14.9%
−13.8 ppy/y
Net income-538m SEK
−1,181.0 %y/y
Free cash flow-37.0m SEK
−153.6 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-2,00002,0004,0006,0008,000m SEK2021: 5,388 m SEK2021: EBIT 621 m SEK20212022: 6,875 m SEK2022: EBIT 418 m SEK20222023: 5,328 m SEK2023: EBIT -52 m SEK20232024: 4,667 m SEK2024: EBIT -49 m SEK20242025: 3,934 m SEK2025: EBIT -586 m SEK20253,934-586
RevenueOperating profit (EBIT)

Business

Share of revenue
Steel distribution45 %

Sales and distribution of commercial steel products to industrial customers.

Processing services25 %

Cutting, drilling, blasting, painting, and other material processing services.

Stainless steel and aluminium20 %

Distribution of stainless steel and aluminium products for customer applications.

Logistics and advisory services10 %

Inventory handling, delivery coordination, and material advisory support.

Customers

BE Group sells primarily to customers in the construction and manufacturing industries, where steel and aluminium are used as input materials. Its production services appeal to customers that want processed, ready-to-use components rather than standard stock material. The company also serves a broad base of industrial buyers across multiple countries, which reduces dependence on any single end market.

Construction companies

Buy steel products and processed components for building and infrastructure projects.

Manufacturing companies

Buy steel, stainless steel, and aluminium as production inputs and fabricated parts.

Industrial OEMs and fabricators

Buy customized components and processing services to simplify their own production.

Regional industrial customers

Buy through local BE Group entities in Sweden, Finland, Poland, and the Baltics.

Strategy

BE Group’s strategy is built around combining distribution with processing services, so customers can source materials and customized components from one supplier. Its regional operating model and local inventory positions are designed to support availability, delivery reliability, and customer proximity across Northern Europe.

Expand value-added processingMedium term

Processing services differentiate the company from pure distributors and improve customer stickiness.

Strengthen regional service modelMedium term

Local presence and inventory management are central to serving industrial customers quickly.

Broaden customer and supplier diversificationShort term

A wide customer base and multiple supplier relationships reduce concentration risk in a cyclical market.

Geography

BE Group operates through business areas in Sweden & Poland and Finland & Baltics, with Malmö as headquarters. Sweden and Finland are its largest markets, while Poland and the Baltic states extend its regional footprint across Northern and Eastern Europe. The multi-country structure matters because demand, logistics, and supplier access vary by market and are managed locally.

Risks

BE Group is exposed to cyclical demand in construction and manufacturing, so weaker economic activity can reduce volumes, pricing, and inventory turnover. Its business also depends on reliable supply chains and IT systems, while operating across several countries adds legal, operational, and compliance complexity.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Economic downturn1Supply chain disruption2Inventory price volatility3Cybersecurity and IT failure4Geographic and regulatory complexity5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Economic downturnImpact: HighLikelihood: High

    Lower activity in construction and manufacturing reduces demand for steel products and processing services.

    Exposure: Customer demand and pricing

  2. Supply chain disruptionImpact: HighLikelihood: Low

    Delayed or missing supplier deliveries can cause lost sales or costly workarounds.

    Exposure: Inbound materials and transport

  3. Inventory price volatilityImpact: MediumLikelihood: High

    Steel price declines can create inventory losses and pressure gross margins.

    Exposure: Stock valuation and turnover

  4. Cybersecurity and IT failureImpact: MediumLikelihood: Medium

    Dependence on IT systems increases exposure to ransomware, phishing, and downtime.

    Exposure: Operations and data security

  5. Geographic and regulatory complexityImpact: MediumLikelihood: Medium

    Operating in several countries exposes the group to different laws, taxes, and rules.

    ExposureSwedenFinlandPolandBaltics

Accounting

Judgemental items
Inventory valuation

Steel price changes can require write-downs or create gains/losses on stock.

Impact: Reported gross profit and working capital

Derivative hedge accounting

Foreign exchange forwards are used to hedge forecast transactions and affect OCI timing.

Impact: Equity and profit volatility

Goodwill impairment

Acquired goodwill must be tested against expected cash flows and discount rates.

Impact: Potential non-cash impairment charges

Lease accounting

Lease term estimates determine the size and timing of lease liabilities and ROU assets.

Impact: Balance sheet and depreciation/interest expense

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Last updated: 24/09/2026

BE Group (BEGR) Revenue, Earnings & Financials 2025 – Clarifo