It has been a challenging year for the recycling industry in the wake of the coronavirus. As a result, we have, among other things, seen significant price volatility in our products, which mainly consist of steel scrap, rerolling material and various types of scrap metal.
With flexibility in the organization, Järnmalmer has managed to adapt to the rapidly changing market and we have been able to deliver material reflecting current needs. Despite the disruptions, our Swedish business grew organically during the 2019/2020 financial year. At the same time, we have achieved strong growth in Russia, where, through Järnmalmer International, we primarily buy rails, sheet metal and other scrap grades loaded onto bulk vessels or sea containers.
Sales increased sharply during the past financial year and reached just over SEK 600 million, the highest sales figure in our 70-year history. The profit after net financial items was SEK 15.2 million. The equity/assets ratio was 54% with a balance sheet total of SEK 188 million.