Slide 1: Interim Q3-2023
Interim Q3-2023 INTERIM REPORT Q3-2023
Slide 2: Table of Content
1. Highlights TABLE OF 2. Financials CONTENT 3. Summary 4. Q&A INTERIM REPORT Q3-2023
Slide 3: Beijer Ref at a Glance
BEIJER REF AT A GLANCE Net sales Employees Markets Branches Customers 30 341 5 869 45 >500 >200 000 (R12 MSEK) INTERIM REPORT Q3-2023
Slide 4: Highlights Q3-2023 - Group
HIGHLIGHTS Q3-2023 - GROUP Stable quarter with strong cash flow Sales at 8 491 MSEK (5 979), an increase of 42 percent Organic sales decreased by 4 percent Acquisition impact of +39 percent FX impact of +7 percent EBITA at 959 MSEK (622), corresponding to a growth of 54 percent with a marg
Slide 5: Highlights Q3-2023 - Group
HIGHLIGHTS Q3–2023 – GROUP Organic growth by product groups 3 2 3% 3% Stable quarter with strong cash flow 1 0 Product segment HVAC had a negative organic growth in Q3 – mainly due to a very strong Q3 2022 (+26%) growth and one -1 less working day -2 -4% OEM and Commercial & Industrial Refrigera
Slide 6: Highlights Q3-2023 - Division EMEA
HIGHLIGHTS Q3–2023 – DIVISION EMEA Continued good development Overall growth of +8% in the quarter OEM continues to deliver and reports a YoY growth of +25% - mainly driven by good growth related to heat pumps based on CO2 EBITA improvement with 8% and with EBITA% of 12,0% The acquisition of
Slide 7: Highlights Q3-2023 - Division APAC
HIGHLIGHTS Q3–2023 – DIVISION APAC Stable development Overall growth of +21% in the quarter Strong HVAC growth of 46% OEM was affected of a generally lower customer activity, mainly related to China Strong EBITA improvement with 20% and with EBITA% of 7,6% The acquisition of the South Kore
Slide 8: Highlights Q3-2023 - Division North America
HIGHLIGHTS Q3–2023 – DIVISION NORTH AMERICA Good quarter Sales in the quarter were in line with seasonal variations The months were affected differently by the weather conditions but overall, the development of the quarter was in line with expectations Sales in Q3 were higher than Q2 driven by
Slide 9: Financials Q3-2023
FINANCIALS Q3–2023 Organic EBITA EPS growth Sales growth growth (change in EBITA, %) (change in %) 42% 54% 8% -4% INTERIM REPORT Q3-2023
Slide 10: Financials Q3-2023 - Sales
FINANCIALS Q3–2023 – SALES MSEK 9 000 +39% 8 500 8 000 7 500 2 362 7 000 6 500 +7% -4% 431 281 6 000 8 491 5 500 5 979 500 0 Q3 22 FX Organic M&A Q3 23 INTERIM REPORT Q3-2023
Slide 11: Sales Development, %
FINANCIALS Q3–2023 – SALES DEVELOPMENT, % % 55 50 45 40 35 30 25 50 46 20 42 37 38 36 15 31 30 25 10 5 13 7 0 -3 -1 -5 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 INTERIM REPORT Q3-2023
Slide 12: HVAC Organic Sales Development, %
FINANCIALS Q3–2023 – HVAC Organic SALES DEVELOPMENT, % % 45 40 35 30 25 20 42 15 29 26 10 20 17 15 12 15 5 9 3 6 0 -1 -5 -11 -10 -15 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 INTERIM REPORT Q3-2023
Slide 13: Financials Q3-2023 - EBITA
FINANCIALS Q3–2023 – EBITA +54% 959 11,3 10,4 622 Q3 22 Q3 23 Q3 22 Q3 23 EBITA MSEK EBITA % INTERIM REPORT Q3-2023
Slide 14: EBITA Development
FINANCIALS Q3–2023 – EBITA* DEVELOPMENT MSEK % 1 100 11,7 12 11,3 1 000 11 10,4 10,4 900 9,8 9,5 10 800 8,4 9 700 8,3 7,9 600 8 500 1 016 959 7 400 702 6 300 618 622 570 5 200 366 407 338 100 4 0 3 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 EBITA EBITA % * Excluding items affecting compar
Slide 15: EBITA Development, %
FINANCIALS Q3–2023 – EBITA* DEVELOPMENT, % % 80 70 60 50 40 70 69 72 30 64 54 48 20 43 25 10 0 4 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 * Excluding items affecting comparability INTERIM REPORT Q3-2023
Slide 16: P&L
FINANCIALS Q3–2023 – P&L INTERIM REPORT Q3-2023
Slide 17: Earnings per Share
FINANCIALS Q3–2023 – EARNINGS PER SHARE SEK 1,2 +8% 1,1 1,0 0,9 0,8 0,7 0,6 1,10 0,5 1,02 0,4 0,3 0,2 0,1 0,0 Q3 22 Q3 23 INTERIM REPORT Q3-2023
Slide 18: Operating Cash Flow
FINANCIALS Q3–2023 – OPERATING CASH FLOW MSEK 1 400 1 300 +777 1 200 55 1 100 27 13 1 000 481 900 800 700 600 1 084 500 391 400 300 200 307 100 0 Q3 22 EBITDA Working capital Capex Leasing Other Q3 23 INTERIM REPORT Q3-2023
Slide 19: Operating Cash Flow
FINANCIALS Q3–2023 – OPERATING CASH FLOW MSEK 1 400 1 300 90 1 200 167 125 1 100 6 1 000 900 800 700 600 1 138 1 084 500 400 300 200 100 0 EBITDA Working capital Capex Leasing Other Q3 23 INTERIM REPORT Q3-2023
Slide 20: Working Capital specification
FINANCIALS Q3–2023 – Working Capital specification MSEK 1 300 1 200 1 100 1 000 900 717 800 848 700 600 500 400 300 227 525 200 100 167 0 Inventory Accounts receivables Accounts payables Other WC items Working Capital INTERIM REPORT Q3-2023
Slide 21: Operating Cash Flow
FINANCIALS Q3–2023 – OPERATING CASH FLOW MSEK 1 200 1,0 1 000 0,9 0,8 800 0,7 600 0,6 1 084 400 0,5 633 200 0,4 307 182 0,3 0 -209 -196 0,2 -200 -313 -295 -358 0,1 -400 0,0 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 INTERIM REPORT Q3-2023
Slide 22: Net Debt
FINANCIALS Q3-2023 – NET DEBT Net debt Net debt / EBITDA* 2,8 2,8 2,7 2,7 2,6 2,5 2,6 2,5 2,4 2,4 2,3 2,2 2,1 2,0 1,8 1,6 1,4 1,2 1,0 0,8 0,6 0,4 0,2 0,0 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 * Excluding items affecting comparability INTERIM REPORT Q3-2023
Slide 23: Summary
Summary Q3 – stable quarter with good profitability and strong cash flow Total sales growth of 42% driven by acquisitions growth of 39% EBITA growth of 54% and improved margin from 10,4% to 11,3% Operating cash flow at +1 084 MSEK – the highest ever in a quarter driven by the inventory reducti
Slide 24: Q&A
Q&A INTERIM REPORT Q3-2023
Slide 25: Thank you
Thank you INTERIM REPORT Q3-2023