Beijer Ref Ab Class B · OMXSTO:BEIJ_B

Beijer Ref Ab Class B — Q3 2022 Earnings Presentation

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

1. Slide 1: Q3 2022

   Q3 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 21 100 4 550 42 450 >100 000 (MSEK) 3

4. Slide 4: Highlights Q3 2022

   Highlights Q3 2022 Continued high sales during the quarter  Sales at 5 979 MSEK (4 341) an increase of 37,7 percent  Organic sales increased by 18,6 percent  Acquisition impact of +12,0 percent  FX impact of +7,1 percent  EBITA at 622 MSEK (366), corresponding to a growth of 70 percent with a m

5. Slide 5: Highlights Q3 2022

   Highlights Q3 2022 Organic growth by product groups +19% Continued good underlying demand 5 500 5 000  The underlying organic demand has remained strong 4 500 Q3 2021 Q3 2022 4 000 3 500 +26%  The hot summer and soaring energy prices have been a contributing factor 3 000 +9% to HVAC’s organic grow

6. Slide 6: Update external

   Update external Increased inflation US Senate ratifies Kigali Amendment Chillventa attracts over Beijer Ref and Danfoss to renew 30,000 visitors partnership agreement with expanded focus on sustainability 6

7. Slide 7: Financials

   BEVER REF Financials Q3 2022

8. Slide 8: Q3 2022 Sales growth

   Q3 2022 Organic EPS Sales EBITA growth Growth growth Change in EBITA, % Change in % % % 37,7% 18,6% 70% 72% 8

9. Slide 9: Q3 2022 - Sales

   Q3 2022 - Sales +12,0% +37,7% 6 000 +18,6% 521 5 500 5 000 +7,1% 856 4 500 262 4 000 3 500 3 000 5 979 2 500 4 341 2 000 1 500 1 000 500 0 Q3 21 FX Organic M&A Q3 22 9

10. Slide 10: Sales development %

    Sales development % % 40 35 30 25 20 38 37 15 31 30 25 10 5 13 10 7 4 1 0 -3 -1 -5 -17 -10 -15 -20 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Of which organic growth Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 5,2 0,9 -3,2 -17,8 -1

11. Slide 11: Sales - Region

    Sales - Region +40% 6 000 20 312 +25% +79% 68 5 500 278 +40% 590 5 000 +25% +28% 271 5 979 4 500 140 4 000 4 341 0 Q3 21 Nordic Central Europe South Europe East Europe Africa APAC Elim Q3 22 11

12. Slide 12: Q3 2022 - EBITA

    Q3 2022 - EBITA +70% 622 10,4 8,4 366 Q3 21 Q3 22 Q3 21 Q3 22 EBITA EBITA % 12

13. Slide 13: EBITA development

    EBITA development % 700 10,4 10,4 11 600 9,2 9,4 10 500 8,4 8,3 9 7,9 7,9 7,4 8 400 7 300 618 622 6 200 431 407 353 366 338 5 271 275 100 4 0 3 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 EBITA EBITA % 13

14. Slide 14: EBIT - Region

    EBIT - Region 650 +110% +9% 25 600 +92% 43 2 550 +70% 50 500 84 +76% 450 +46% 67 400 31 350 300 607 250 200 354 150 100 50 0 Q3 21 Nordic Central Europe South Europe East Europe Africa APAC Others Q3 22 14

15. Slide 15: P&L - Group

    P&L - Group MSEK Q3 2022 Q3 2021 Change % R12 2022 12M 2021 Sales 5 979 4 341 38% 21 091 16 905 Organic change % 18,6% 6,4% Change through acquisitions % 12,0% 7,0% Exchange rate fluctuation % 7,1% -0,3% Change total 37,7% 13,1% EBITA 622 366 70% 1 985 1 410 EBITA % 10,4% 8,4% 9,4% 8,3% Operating pr

16. Slide 16: Earnings per share

    Earnings per share1 % 4,0 +39% 3,5 3,0 2,5 2,0 3,55 1,5 +72% 2,56 1,0 0,5 1,12 0,65 0,0 Q3 21 Q3 22 2021 R12 1. After dilution 16

17. Slide 17: Operating cash flow

    Operating cash flow 550 500 +125 450 (+69%) 400 160 350 273 30 12 6 300 250 200 150 307 100 182 50 0 Q3 21 EBITDA Working capital Capex Leasing Other Q3 22 17

18. Slide 18: Operating cash flow

    Operating cash flow MSEK 500 1,0 400 0,9 300 0,8 408 0,7 200 377 279 307 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 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 18

19. Slide 19: Net debt

    Net debt Net debt Net debt / EBITDA 2,8 2,8 2,7 MSEK Q3 22 Q3 21 2,6 2,6 2,5 2,4 L12M EBITDA 2 461 1 753 2,2 2,1 2,1 2,0 2,0 2,0 Net debt 6 413 3 754 2,0 Of which 1,8 1,6 Pension debt 169 161 1,4 Leasing liabilities, according to IFRS 16 1 492 1 273 1,2 Net debt excluding pension and leasing liabili

20. Slide 20: Conclusion

    Conclusion  Strong profitable sales growth  Sales grew with 37,7 percent and with organic sales increased by 18,6 percent  Strong EBITA improvement  EBITA at 622 MSEK, growth of 70 percent with a margin of 10,4 percent (8,4)  Good sales all regions with all growing double digits  Positive oper

21. Slide 21: Q&A

    BEVER REF Q&A 21

22. Slide 22: Thank you

    BEVER REF Thank you

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