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G & L Beijer is a technology-oriented trading Group which, through a combination of added-value agency products and products of the company´s own development, offers competitive solutions for its customers within refrigeration and air conditioning.

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  • BEIJER REF AB
    Stortorget 8 211 34 MALMÖ
    +46-40 35 89 00
    http://www.beijerref.com
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    Beijer Ref’s annual report and sustainability report 2023

    Beijer Ref's annual report and sustainability report for 2023 is now available for download on Beijer Ref's website www.beijerref.com. Printed copies of the annual report can be ordered at the following email: api@beijerref.com Malmö, 28 March 2024Beijer Ref AB (publ) For more information, please contact: Joel DavidssonCFOTelephone: +46 40-35 89 00Email: jdn@beijerref.com Niklas WillstrandDirector of Global CommunicationsTelephone: +46 40-35 89 00Email: nwd@beijerref.com BEIJER REF AB is a technology-oriented trading Group which, through added-value products,

    Notice to the Annual General Meeting in Beijer Ref AB (publ)

    The shareholders of Beijer Ref AB (publ), corporate ID no. 556040-8113, are hereby invited to the Annual General Meeting (the “AGM”) to be held on 23 April 2024, at 15.00 at Glasklart, Dockplatsen 1, in Malmö, Sweden. Registration for the AGM will begin at 14.30. The board of directors has resolved, in accordance with the provisions of the company’s Articles of Association, that shareholders may exercise voting rights in advance by so-called postal voting. A. RIGHT TO PARTICIPATE, NOTIFICATION OF ATTENDANCE AND POSTAL VOTING A shareholder who wishes to attend the AGM venue or who

    Beijer Ref acquires Quality Air Equipment in Australia

    Beijer Ref has signed an agreement to acquire 60 per cent of the shares in Quality Air Equipment (QAE), with an option to acquire the remaining shares. QAE is a manufacturer and distributor of HVAC components and accessories. The company has an annual turnover of approximately SEK 140 million. Founded in 2000, QAE is headquartered in Sydney (Australia). The company will continue to operate under its own brand and existing management will continue to develop the business together with Beijer Ref. The acquisition is in line with Beijer Ref's overall acquisition strategy and strengthens

    Eventful year ends with record cash flow

    “In summary, we closed an eventful 2023 in which we grew sales by 42 per cent and EBITA, excluding items affecting comparability, by 53 per cent. Sales during the quarter amounted to SEK 7,627 million, which is an increase of 31 per cent compared with the corresponding period the previous year. EBITA before items affecting comparability amounted to SEK 721 million, which is an increase of 26 per cent compared to the corresponding period the previous year. The EBITA margin, excluding items affecting comparability, was 9.5 per cent compared with 9.8 per cent the previous year. There was a

    Beijer Ref acquires Chillaire Solutions in India

    Beijer Ref has signed an agreement to acquire 70 per cent of the shares in Chillaire Solutions, with an option to acquire the remaining shares. The company is active in the import and distribution of refrigerants and HVAC-related products. Chillaire Solutions has annual sales of approximately SEK 120 million. Chillaire Solutions, which was founded in 2018, employs 20 people. The company’s existing management team will continue to run and develop the company together with Beijer Ref. Malmö, 2 January 2024Beijer Ref AB (publ) For more information, please contact:Joel Davidsson

    Beijer Ref acquires Webb Supply in North America

    Beijer Ref has signed an agreement to acquire the assets of Webb Supply (“Webb”), a North American wholesale HVAC distributor. The company is headquartered in Cleveland, Ohio and serves contractors in Northeastern Ohio and Western Pennsylvania – territories adjacent to Beijer Ref’s current holdings in the US. Webb has annual sales of approximately SEK 200 million. Founded in 1965, Webb Supply is a family-owned company with more than 55 years of experience. The Webb team is made up of professionals committed to delivering solutions for different HVAC market segments, such as residential

    Beijer Ref presents new financial targets

    Beijer Ref’s board has decided on new financial targets. The new targets are based on continued good opportunities for growth as well as increased clarity towards the market and investors. Christopher Norbye, CEO Beijer Ref, comments: "We see that the market has developed positively and the company is in a good position. The existing platform is strong and we continue to build for further growth.” New financial targets for the next 5 years: New target: Sales growth of 10-15% annually Old target: Grow at a higher rate than the market New target: EBITA margin of 10-12%

    Positive tax restructuring in Beijer Ref's US operations

    During the year, a tax restructuring took place in the Beijer Ref US operations, which has resulted in an increase in the tax base of the US operations by an additional approximately MUSD 235. Together with the now expanded tax base, the payable tax in the US operations is expected to be positively impacted by approximately MUSD 200 over a 15-year period.The lower payable tax will be recognized on an ongoing basis as deferred tax liability, which is why profit in the coming years will not be affected. The tax restructuring also means that a currently recognized deferred tax liability of

    Beijer Ref acquires Turner Engineering in Australia

    Beijer Ref (publ) ("Beijer Ref") has signed an agreement to acquire 100 per cent of the shares in Turner Engineering, an HVAC distributor with more than 45 years of experience. The company has an annual turnover of approximately SEK 200 million. Turner Engineering was founded in 1974 and is headquartered in Perth (Western Australia). The company, which is among the region's longest-standing independent HVAC distributors, boasts a highly proficient team comprising HVAC specialists, technicians and engineers. This acquisition aligns with Beijer Ref’s overall acquisition strategy and

    Good profitability and a strong cash flow

    "Compared with the same period last year, total sales increased by 42 per cent. Operating profit (EBITA) amounted to SEK 959 million, which is an increase of 54 per cent over the same period last year. Operating margin (EBITA margin) was 11.3 per cent, marking a 90-basis point increase compared to the same period previous year (10.4 per cent). Given the high comparison figures (19 per cent), as well as one fewer sales day, underlying organic sales were slightly negative. However, we noted good margins and a strong cash flow," says CEO Christopher Norbye. Webcast and Telephone conference

    Nomination Committee appointed for Beijer Ref AB:s Annual General Meeting 2024

    In accordance with decision by the Annual General Meeting, Beijer Ref Nomination Committee shall consist of five members. The members should be one representative of each of the four largest shareholders in terms of voting rights that wish to participate in the committee, together with the Chairperson of the Beijer Ref Board. This year’s Nomination Committee consists of the following members: Juho Frilander (EQT)Joen Magnusson (own and related parties’ holdings)Per Bertland (own and related parties’ holdings)Patricia Hedelius (AMF Tjänstepension och Fonder)Kate Swann (

    Invitation to Beijer Ref’s Capital Markets Day on 30 November, 2023

    Beijer Ref invites investors, analysts, media and other key stakeholders to the company's Capital Markets Day, which takes place physically in Stockholm and is broadcast live via the web. The place for the event is Epicenter, Mäster Samuelsgatan 36, in Stockholm. Registration opens at 12:30 (CET) and the event will start at 13:00 and is expected to end at 4:30. After the presentations, there is an opportunity to mingle. On the Capital Markets Day, CEO Christopher Norbye and other key people from the group will present an update regarding Beijer Ref's strategy, financial goals,

    Beijer Ref acquires AMSCO Supply in North America

    Beijer Ref has signed an agreement to acquire the assets of AMSCO Supply (“AMSCO”), a North American wholesale HVAC distributor. The company serves contractors in the Midwest and Southwest United States including Oklahoma, Kansas, Missouri and Texas – territories adjacent to Beijer Ref’s current holdings in the US. AMSCO has annual sales of approximately SEK 500 million. Founded in 1974 and headquartered in Tulsa, Oklahoma, AMSCO Supply is a family-owned company with more than 45 years of experience. The AMSCO team comprises skilled professionals committed to providing solutions for

    The Board of Directors of Beijer Ref has resolved to utilise its authorisation to acquire own shares

    Malmö 8 September 2023 The board of directors of Beijer Ref AB (publ) (“Beijer Ref”) has resolved, pursuant to the authorisation granted by the annual general meeting on 25 April 2023, to acquire a maximum of 316,500 own shares of series B on Nasdaq Stockholm. The purpose of the repurchase is to secure Beijer Ref’s delivery of shares to the participants in the incentive program LTI 2023/2026 and possible future incentive programs and, in terms of liquidity, hedge payments of future social security contributions related to delivery of shares. The acquisition may commence on 8 September

    Save the date: Beijer Ref is organising a Capital Markets Day on November 30, 2023

    Beijer Ref invites investors, analysts, media, and other key stakeholders to the company's Capital Markets Day, which will take place physically in Stockholm and will be live streamed online. The event will be hosted at Epicenter (Disruption Hall), Mäster Samuelsgatan 36, in Stockholm. The Capital Markets Day will include updates on Beijer Ref's strategy, financial goals, priorities, and the company's efforts towards sustainability. More information regarding the agenda and registration link will be provided closer to the event. For more information, please contact:Niklas

    Beijer Ref enters the South Korean market through the acquisition of DS Maref

    Beijer Ref has signed an agreement to acquire the operations of DS Maref, thereby establishing itself on the South Korean market. DS Maref is a distributor of refrigeration compressors and components as well as a manufacturer of chillers and evaporators. The company has annual sales of approximately SEK 375 million. DS Maref was founded in 1986 and is headquartered in Seoul (South Korea). They have good relationships with internationally renowned manufacturers and possess extensive knowledge in the HVACR segment. The acquisition, which aligns with Beijer Ref's overall strategy, enables

    Continued positive growth trend and highest operating margin ever

    "Total sales increased by 46 per cent compared with the same period last year, of which 2 per cent was organic. Commercial and industrial cooling/heating and HVAC reported stable development, while OEM continued its strong trend from the first quarter and reported organic growth of 19 per cent. Operating profit (EBITA) amounted to SEK 1 016 million, which is an increase of 64 per cent over the same period last year. Operating margin (EBITA margin) amounted to 11.7 per cent. Overall, sales, profit and operating margin are Beijer Ref’s highest ever in one quarter", says Christopher Norbye,

    Beijer Ref acquires HVAC distributor in France

    Beijer Ref has signed an agreement to acquire 100 percent of the shares in the French HVAC company CFD. The company, which is a distributor of heat pumps, geothermal energy products and HVAC components, has an annual turnover of approximately SEK 75 million. CFD is primarily active in the north of France and has its headquarters in Saint Brieuc. With over 20 years of experience, the company brings many years of expertise as well as an established network in the regional market. They have a varied product portfolio that complements Beijer Ref's existing offer well. Malmö, 1 June, 2023

    Beijer Ref announces CFO change – CORRECTION

    Correction regarding incorrect reference to MAR in the press release. The previous press release contained an incorrect reference to the EU Market Abuse Regulation. The information concerning the change of CFO is not considered inside information and the reference to MAR has been removed.Beijer Ref and Ulf Berghult, Executive Vice President (EVP) and CFO, have mutually agreed that Ulf will transition out of the company in the next 6 months. As his successor, Beijer Ref has appointed Joel Davidsson as new EVP and CFO. Christopher Norbye, CEO Beijer Ref, comments: “Since joining Beijer

    Beijer Ref announces CFO change

    Beijer Ref and Ulf Berghult, Executive Vice President (EVP) and CFO, have mutually agreed that Ulf will transition out of the company in the next 6 months. As his successor, Beijer Ref has appointed Joel Davidsson as new EVP and CFO. Christopher Norbye, CEO Beijer Ref, comments: “Since joining Beijer Ref, Ulf has been a valuable CFO and colleague. His strong leadership and extensive knowledge have been instrumental in creating a solid group finance team and structure that will be able to support further growth of the company. Furthermore, Ulf’s guidance through Beijer Ref’s prospectus,

    Resolutions at Beijer Ref’s Annual General Meeting 2023

    The annual general meeting of Beijer Ref AB (publ) today made the following resolutions. Income statement and balance sheet as well as discharge from liability The meeting adopted the income statement and the balance sheet as well as the consolidated income statement and the consolidated balance sheet for 2022. The members of the board of directors and the CEO were discharged from liability for their administration of the company during the financial year 2022. Dividend In accordance with the board of directors’ proposal, the meeting resolved to pay a dividend of SEK 0.94 per

    We continue to build on the successes from 2022

    First quarter · Organic sales increased 14.5 per cent in the quarter compared to the previous year. Acquisition effects amounted to 30.2 per cent and currency effects were 5.8 per cent. Net sales increased by 50.5 per cent and amounted to SEK 7,378 million (4,903).  · EBITA amounted to SEK 702 million (407), which is an increase of 72.4 per cent compared to the same period last year. The EBITA margin amounted to 9.5 per cent (8.3).  · This is Beijer Ref’s best first quarter ever, excluding items affecting comparability, in both absolute terms and margin, based on the current

    Beijer Ref acquires leading HVAC distributor in Bulgaria

    Beijer Ref (publ) ("Beijer Ref") has signed an agreement to acquire 70 percent of the shares in Condex, with an option to acquire the remaining shares. Condex is a leading Bulgarian HVAC distributor headquartered in Sofia and has an annual turnover of approximately SEK 350 million with good profitability. Founded in 1993, Condex is a well-established HVAC distributor and has a broad customer base and a solid product offering. In recent years, the company has experienced very good profitable sales growth. The company, which is family owned, employs 41 people. The parties have signed a

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