Steel demand in the Nordic countries is expected to continue its slow recovery in the fourth quarter, Swedish distributor BE Group said. The company expects manufacturing to improve, while residential construction will remain weak.
BE Group said activity in the construction market would be supported mainly by industrial projects and infrastructure work. The steel market’s recovery in the third quarter was gradual but uneven: manufacturing activity was more stable than a year earlier, but demand varied across segments and planning horizons remained short.
BE Group’s revenue for the first nine months of the year reached SEK 3.05 billion ($310 million), up SEK 43 million from the same period last year. Operating profit was SEK 10 million. In the corresponding period a year earlier, the company recorded a loss of SEK 61 million.
Restructuring costs affected the comparability of the results: BE Group is consolidating its sheet metal processing capacity in Finland, moving it from Lahti to Lapua. The company expects the move to strengthen its offering and competitiveness, and to improve EBIT by about SEK 20 million annually. The full effect is expected from 2028.
The joint venture ArcelorMittal BE Group SSC AB contributed positively to the group’s profit, BE Group said, without providing further details.
