Beijer Ref Ab Class B · OMXSTO:BEIJ_B

Beijer Ref Ab Class B — Q2 2022 Earnings Presentation

22 slides from Beijer Ref Ab Class B's earnings presentation, 2022

1. Slide 1: Beijer Ref AB Q2 2022

   Beijer Ref AB Q2 2022 Christopher Norbye – CEO Ulf Berghult – CFO 1

2. Slide 2: Table of content

   1 Highlights Table of 2 Financials content 3 Summary 4 Q&A 2

3. Slide 3: At a glance

   At a glance Net Sales (R12M) Employees Countries Branches Customers 19 500 4467 42 450 >100 000 (MSEK) 3

4. Slide 4: Highlights Q2 2022

   Highlights Q2 2022 Continued high sales during the quarter  Sales at 5 938 MSEK (4 561) an increase of 30,2 percent  Organic sales increased by 13,3 percent  Acquisition impact of +11,6 percent  FX impact of +5,3 percent  EBITA at 618 MSEK (431), corresponding to a growth of 43 percent with a m

5. Slide 5: Highlights Q2 2022

   Highlights Q2 2022 Organic growth by product groups +13% Continued high sales during the quarter 5 500 5 000  An organic growth in the quarter of +13,3% on the back of a +33,8% 4 500 4 000 Q2 2021 Q2 2022 organic growth 2021/2020 3 500 +15% 3 000 +13%  Overall good performance across all product s

6. Slide 6: Update External

   Update External Increased inflation Senate committee nod for Kigali Amendment Greece subsidises new energy efficient The heat pump market will more than double to AC and fridges $13B in cold climates by 2031 6

7. Slide 7: Financials

   BEVER REF Financials Q2 2022

8. Slide 8: Q2 2022

   Q2 2022 Organic EPS Sales EBITA growth Growth growth Change in EBITA, % Change in % % % 30,2% 13,3% 43% 35% 8

9. Slide 9: Q2 2022 - Sales

   Q2 2022 - Sales +11,6% +30,2% 6 000 5 500 +13,3% 528 5 000 +5,3% 635 213 4 500 4 000 3 500 3 000 5 938 2 500 4 562 2 000 1 500 1 000 500 0 Q2 21 FX Organic M&A Q2 22 9

10. Slide 10: Sales development %

    Sales development % % 40 35 30 25 20 37 15 31 30 25 10 14 13 5 10 7 4 1 0 -3 -1 -5 -17 -10 -15 -20 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Of which organic growth % Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 4,4 5,2 0,9 -3,2 -1

11. Slide 11: Sales - Region

    Sales - Region 6 200 +31% 6 000 67 +22% 236 5 800 +103% 55 5 600 324 +30% 5 400 5 200 534 5 000 +12% 4 800 +35% 135 5 938 4 600 160 4 400 4 200 4 561 400 200 0 Q2 21 Nordic Central Europe South Europe East Europe Africa APAC Elim Q1 22 11

12. Slide 12: Q2 2022 - EBITA

    Q2 2022 - EBITA +43% 618 10,4 9,4 431 Q2 21 Q2 22 Q2 21 Q2 22 EBITA EBITA % 12

13. Slide 13: EBITA development

    EBITA development % 700 12 10,4 600 9,2 9,4 10 8,4 8,3 500 7,6 7,9 7,9 7,4 8 400 6 300 618 431 4 200 353 366 407 338 253 271 275 2 100 0 0 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 EBITA EBITA % 13

14. Slide 14: EBIT - Region

    EBIT - Region 650 +42% +59% +141% 26 26 600 5 +33% 62 550 500 +24% 58 +56% 25 450 35 400 350 300 603 250 200 418 150 100 50 0 Q2 21 Nordic Central Europe South Europe East Europe Africa APAC Others Q2 22 14

15. Slide 15: P&L - Group

    P&L - Group MSEK Q2 2022 Q2 2021 Change % R12 2022 12M 2021 Sales 5 938 4 561 30% 19 453 16 905 Organic change % 13,3% 33,8% Change through acquisitions % 11,6% 6,4% Exchange rate fluctuation % 5,3% -3,5% Change total 30,2% 36,6% EBITA 618 431 43% 1 729 1 410 EBITA % 10,4% 9,4% 8,9% 8,3% Operating p

16. Slide 16: Earnings per share

    Earnings per share % 3,5 +20% 3,0 2,5 2,0 1,5 3,09 +35% 2,58 1,0 0,5 1,07 0,79 0,0 Q2 21 Q2 22 2021 R12 16

17. Slide 17: Operating cash flow

    Operating cash flow 100 50 -151 0 -50 -100 207 204 -150 358 -200 384 -250 -300 -350 10 48 -400 9 -450 Q2 21 EBITDA Working capital Capex Leasing Other Q2 22 17

18. Slide 18: Operating cash flow

    Operating cash flow MSEK 500 1,0 400 0,9 300 0,8 408 0,7 200 377 245 279 0,6 100 182 0,5 0 0,4 -100 -207 -313 -295 0,3 -200 -358 0,2 -300 0,1 -400 0,0 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 18

19. Slide 19: Net debt

    Net debt Net debt Net debt / EBITDA 2,8 2,8 2,7 MSEK Q2 22 Q2 21 2,6 2,5 2,4 L12M EBITDA 2 187 1 729 2,2 2,1 2,1 2,1 2,0 2,0 2,0 2,0 Net debt 6 148 3 693 1,8 Of which 1,6 Pension debt 151 159 1,4 1,2 Leasing liabilities, according to IFRS 16 1 498 1 311 1,0 Net debt excluding pension and leasing lia

20. Slide 20: Conclusion

    Conclusion  Strong profitable sales growth  Sales grew with 30,2 percent and with organic sales increased by 13,3 percent  Strong EBITA improvement  EBITA at 618 MSEK, growth of 43 percent with a margin of 10,4 percent (9,4)  Good sales all regions with all growing double digits  Strong perfor

21. Slide 21: Q&A

    BEVER REF Q&A 21

22. Slide 22: Thank you

    BEVER REF Thank you

Beijer Ref — Q2 2022 Earnings Presentation on 6ix