Beijer Ref

We are pleased to announce that Beijer Ref has signed an agreement to acquire 75 per cent of the shares in GIA GROUP, with an option to acquire the remaining shares. GIA Group is an air conditioning company and one of Spain’s largest distributors with several own strong brands. The turnover during the completed fiscal year 2023 amounted to SEK 1.1 billion with good profitability. Follow link for full press release: https://lnkd.in/dKV8-4Aq #beijerref #giagroup #airconditioning #acquisition

Yesterday, we released our Q2 report, highlighting a record quarter with positive organic growth and strong profitability. "After a stable start to the year, we reported a good performance in the second quarter. This resulted in our best quarter ever, with record profitability. The group's total sales amounted to SEK 9,681 million, which corresponds to an increase of 12 per cent. Both EBITA and EBITA margin performed well, with a result of SEK 1,148 million (corresponding to an increase of 13 per cent) and 11.9 per cent respectively. Organic sales increased by 2 per cent over the period. We reported a positive operating cash flow of SEK 354 million (-196), despite negative seasonal effects,” says CEO Christopher Norbye. Visit our website for full report: https://lnkd.in/dH3kpKBY #beijerref #financialreports #quarterlyreports #secondquarter #q2

We are pleased to announce that our subsidiary, SCM Frigo S.p.A., has secured its first US market order for an advanced CO2 refrigeration system, marking an important step into the attractive and dynamic US market. The order features a state-of-the-art transcritical CO2 system designed specifically for pharmaceutical applications, capable of servicing cold rooms at critical temperatures: +5°C (41°F), -5°C (23°F), and -30°C (-22°F). This innovative system underscores SCM Frigo’s commitment to providing advanced, sustainable refrigeration solutions for diverse industries. Great work to Nicola Pignatelli and his team! #beijerref #scmfrigo #refrigeration #sustainablerefrigeration #sustainability

We are excited to share that Beijer Ref has entered into an agreement to acquire 80 per cent of the shares in Cool4U, with an option to acquire the remaining shares. Cool4U is a leading HVAC distributor in Hungary, providing solutions for both residential and commercial projects. The company has an annual turnover of approximately SEK 500 million and with good profitability. The parties have signed a binding agreement; however, the transaction needs to be approved by the competition authority in Hungary and an FDI (Foreign Direct Investment) screening will also be carried out as conditions of closing. Follow link for full press release: https://lnkd.in/duZM6Q3f #beijerref #acquisition #hvac #hvacdistributor

Beijer Ref and BITZER, a world-leading specialist in refrigeration, air conditioning and heat pumps, has extended their partnership for an additional three years. Their joint efforts will be directed towards reinforcing their commitment to assisting customers in finding sustainable solutions and mitigating CO2 emissions, beyond the adoption of natural refrigerants. For the upcoming years both partners agreed to mutually work on increasing the circularity of BITZER products. The aim of the initiative is to offer customers an eco-conscious and resource-efficient way for their refrigeration, air conditioning and heat pump solutions. Simon Karlin, COO EMEA at Beijer Ref, comments: “BITZER is renowned for its comprehensive product range, which is important to Beijer Ref. Our longstanding partnership spans several years, demonstrating our experience working together. BITZER stands at the forefront in innovative and technical solutions based on natural refrigerants. Together with our joint commitment to sustainability, we can combine their offerings with our OEM products, providing broad solutions for a better future.” Martin Büchsel, Chief Sales and Marketing Officer at BITZER, comments: “This strong partnership brings various benefits for our end customers worldwide: a wide product portfolio, strong regional availability combined with professional support in the market and, above all, sustainable solutions.” #beijerref #bitzer #partnership #hvac #hvacr #sustainability

Our Q1 report is now available. In summary, we had a solid start to the year with good profitability and positive cash flow. “The group’s total sales during the quarter amounted to SEK 7,680 million, which is an increase of 4 per cent compared with the same period last year. EBITA amounted to SEK 733 million, which is an increase of 4 per cent compared with the same period last year. The EBITA margin was in line with the same period last year and amounted to 9.5 per cent. The quarter was affected by high comparative figures and two fewer trading days. Organic sales amounted to -4 per cent (+15%), mainly related to negative growth in HVAC of 7 per cent (+17%). Despite high comparative figures, OEM reported good organic growth of 9 per cent (+24%). Commercial and industrial refrigeration had a slight negative organic growth of 3 per cent (+10%). Towards the end of the quarter, we noted a normalization of the high comparative figures. A controlled inventory build-up, adapted to seasonal variations, contributed to a strong operational cash flow of SEK 582 million,” says CEO Christopher Norbye. Moving forward, our outlook remains optimistic, driven by enduring structural trends that will sustain growth across all our business segments. Follow link for full report: https://lnkd.in/dCkiaswz #beijerref #hvac #hvacr #financialreport #firstquarter #q1

Beijer Ref has signed an agreement to acquire Young Supply, a North American distributor of commercial refrigeration and HVAC with headquarters in Detroit, Michigan. The company serves contractors in the Midwest United States, including Michigan and Ohio – territories adjacent to Beijer Ref’s current holdings in the United States. Young Supply has annual sales of approximately SEK 1.4 billion with 18 branches. Christopher Norbye, CEO Beijer Ref, comments: “We are pleased to welcome Young Supply to the Beijer Ref group. The company offers comprehensive expertise and knowledge, primarily in commercial refrigeration, which will be an important addition to Beijer Ref’s existing platform in the United States. With our collective industry knowledge, new opportunities arise to create meaningful synergies that support the long-term goals of the business. The acquisition aligns with our overall acquisition strategy and we look forward to continuing to drive growth and develop the company together with the existing owners.” Follow link for full press: https://lnkd.in/dYEcggZt #beijerref #acquisition #northamerica #hvac #commercialrefrigeration

Nasdaq has launched futures on the OMX Sweden Small Cap 30 ESG Responsible Index and Beijer Ref's contribution to a sustainble future has earned the company an inclusion. This serves as a strong affirmation of our dedication to incorporating environmental, social, and corporate governance (ESG) principles across all aspects of our operations. Additionally, ringing the bell and opening the market was a fun experience! #beijerref #nasdaq #esg

We are thrilled to announce the release of Beijer Ref’s annual report and sustainability report, highlighting key achievements from 2023. Our dedication has driven net sales to an impressive SEK 32 billion while maintaining good profitability. Notably, our green OEM segment experienced remarkable growth of 35 per cent. The entry into the North American market represents a significant milestone in our company's history, accompanied by the successful completion of 15 new acquisitions, which have greatly enhanced our capabilities and global presence. We extend a warm welcome to all our new subsidiaries. During our Capital Markets Day on November 30th, we introduced new financial goals, aligned with our commitment to excellence and based on continued growth opportunities and improved market and investor clarity. Also, we are pleased to have been approved by the Science Based Targets initiative, which positioned us among companies proactively working to combat climate change. A big appreciation goes out to all our employees for their unwavering commitment and dedication, as these qualities are the driving forces behind our achievements. We thank you for your continued engagement and contributions to our shared success. The complete report is available on our website: www.beijerref.com #beijerref #annualreport #financialreport

We would like to take a moment to acknowledge and celebrate International Women's Day. International Women's Day is not only a day to recognise the social, economic, cultural, and political achievements of women around the world but also a day to raise awareness about gender equality and women's rights. At Beijer Ref, we value and appreciate the contributions of women in our organisation and beyond. We recognise the importance of diversity and inclusion in creating a more equitable and thriving workplace. We are committed to promoting gender equality, providing equal opportunities for all employees, and fostering an environment where everyone feels respected, empowered, and valued. On this International Women's Day, let us reaffirm our commitment to gender equality and women's empowerment. Let us continue to work together to break down barriers, challenge stereotypes, and create a more inclusive and equitable world for all. #BeijerRef #InternationalWomensDay #IWD2024 #WomensDay2024 #GenderEquality.