Beijer Ref AB

Latest Results (22.12.2024):

Net Sales Growth

In the second quarter of 2024, Beijer Ref AB reported a net sales increase of 11.9 per cent, reaching SEK 9,681 million compared to SEK 8,654 million in the same period the previous year. This growth was driven by a 2.2 per cent increase in organic sales, a 9.0 per cent contribution from acquisitions, and a 0.6 per cent positive impact from currency effects.

EBITA Performance

Beijer Ref AB's EBITA for Q2 2024 amounted to SEK 1,148 million, marking a 13 per cent increase from SEK 1,016 million in Q2 2023. The EBITA margin improved slightly to 11.9 per cent from 11.7 per cent, setting a record for the company in a single quarter. This performance was supported by positive exchange rate effects and strong sales growth in various regions.

Profit and Earnings Per Share

The company's profit for the second quarter of 2024 was SEK 728 million, up from SEK 710 million in the same quarter of the previous year. Earnings per share, both before and after dilution, increased by 2 per cent to SEK 1.42 from SEK 1.39, reflecting the company's improved profitability during the period.

Operating Cash Flow

Beijer Ref AB reported a positive operating cash flow of SEK 354 million in Q2 2024, a significant improvement from a negative cash flow of SEK -196 million in Q2 2023. This positive cash flow was achieved despite negative seasonal effects, attributed to a controlled inventory build-up and effective cash management strategies.

Acquisitions and Market Expansion

During the second quarter of 2024, Beijer Ref AB expanded its market presence through strategic acquisitions. The company acquired Young Supply, a North American distributor in commercial refrigeration and HVAC, and signed an agreement to acquire Cool4U, a leading HVAC distributor in Hungary. These acquisitions are expected to complement Beijer Ref's existing platforms and enhance its market position in the respective regions.