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.
Webcast and Telephone conference Q1 2024
The company invites investors, analysts and the media to attend a combined webcast and telephone conference at which CEO Christopher Norbye and CFO Joel Davidsson will present the interim report for the first quarter of 2024. The presentation will be held in English and lasts for about 20 minutes. The meeting is on 23 April, at 13.00 CET.
If you wish to participate via webcast please follow this link: Beijer Ref Q1 Report 2024 (financialhearings.com)
If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. Call Access (financialhearings.com).
A presentation will be available on the company’s website www.beijerref.com from 12.00 on April 23, 2024.
This interim report for Beijer Ref AB (publ) has been submitted following approval by the Board of Directors.
This interim report has not been the subject of examination by the Company’s Auditors.
Malmö April 23, 2024
Beijer Ref AB (publ)
Christopher Norbye, CEO
For more information, please contact:
Niklas Willstrand
Director of Global Communications
Telephone +4640-35 89 00
Email nwd@beijerref.com
This disclosure contains information that Beijer Ref AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 23-04-2024 12:00 CET.