Beijer Ref Reports Q1 2025 Sales and Profit Growth

Beijer Ref Reports Q1 2025 Sales and Profit Growth

Sweden: Beijer Ref reported net sales of SEK 8,898 million (USD 832 million / EUR 777 million) for the first quarter of 2025, reflecting a 16 percent increase compared to the same period in the previous year. Organic sales grew by 4 percent, while acquisitions contributed 11 percent to the increase. EBITA for the quarter rose to SEK 832 million (USD 78 million / EUR 73 million), up 13 percent year-on-year. The EBITA margin stood at 9.4 percent, slightly down from 9.5 percent, impacted by the dilution effect from recent acquisitions in North America. Operating cash flow reached SEK 445 million (USD 42 million / EUR 39 million), stable despite seasonal working capital build-up. 

The group's profit for the period amounted to SEK 482 million (USD 45 million / EUR 42 million), an increase of 18 percent from the previous year. Earnings per share rose by 20 percent to SEK 0.94. The quarter included the completed acquisition of Hungarian HVAC distributor Cool4U, consolidated from 3 January 2025. Currency effects had a neutral impact on EBITA after reversing negative impacts from the previous quarter, due to a stronger euro against the US dollar. Price pressure on heat pumps in Eastern Europe continued but is expected to be temporary and have limited effect going forward. The tax rate remained steady at 25 percent.

Source: Beijer Ref