Slide 1: Interim Q2-2023
Interim Q2-2023 INTERIM REPORT Q2-2023
Slide 2: Table of Content
1. Highlights TABLE OF 2. Financials CONTENT 3. Summary 4. Q&A INTERIM REPORT Q2-2023
Slide 3: Beijer Ref at a Glance
BEIJER REF AT A GLANCE Net sales Employees Markets Branches Customers 27 829 5 877 44 >500 >200 000 (R12 MSEK) INTERIM REPORT Q2-2023
Slide 4: Highlights Q2-2023 - Group
HIGHLIGHTS Q2-2023 - GROUP Stable quarter with record profits Sales at 8 654 MSEK (5 938) an increase of 46 percent Organic sales increased by 2 percent Acquisition impact of +38 percent FX impact of +6 percent EBITA at 1 016 MSEK (618), corresponding to a growth of 64 percent with a margi
Slide 5: Highlights Q2-2023 - Group: Organic growth by product groups
HIGHLIGHTS Q2–2023 – GROUP Organic growth by product groups 19,0 2,0 Continued positive growth 1,5 19% Product segment OEM continues to deliver a double-digit 1,0 2% organic growth of +19%. Good momentum in both EMEA and APAC 0,5 1% HVAC and Commercial & Industrial Refrigeration reported a 0,0 s
Slide 6: Highlights Q2-2023 - Division EMEA
HIGHLIGHTS Q2–2023 – DIVISION EMEA Continued good development MSEK Q2 2023 Q2 2022 Change % R12 12M 2022 Overall growth of +11% in the quarter OEM continues to deliver and reports a YoY growth of Sales 5 520 4 956 11% 19 813 18 232 +28% Exchange rate % 7,5% Mixed performance across the differe
Slide 7: Highlights Q2-2023 - Division APAC
HIGHLIGHTS Q2–2023 – DIVISION APAC Stable development MSEK Q2 2023 Q2 2022 Change % R12 12M 2022 The seasonal slowest quarter but with a sales increase of 33% coming from acquisitions Sales 1 317 993 33% 5 147 4 473 Strong demand on OEM products and with a Exchange rate % 1,4% growth of 13% EBIT
Slide 8: Highlights Q2-2023 - Division North America
HIGHLIGHTS Q2–2023 – DIVISION NORTH AMERICA Stabil quarter Sales came in somewhat lower than plan and was negatively affected by limiting supply in HVAC equipment and slow start to the quarter MSEK Q2 2023 Q2 2022 Change % R12 12M 2022 Strong development in EBITA and EBITA% (15%) supported by go
Slide 9: Financials Q2-2023
FINANCIALS Q2–2023 Organic EBITA EPS growth Sales growth growth (change in EBITA, %) (change in %) 46% 64% 41% 2% INTERIM REPORT Q2-2023
Slide 10: Financials Q2-2023 - Sales
FINANCIALS Q2–2023 – SALES MSEK 9 000 +38% 8 500 8 000 7 500 2 229 +2% 7 000 6 500 +6% 109 378 8 654 6 000 5 500 5 938 500 0 Q2 22 FX Organic M&A Q2 23 INTERIM REPORT Q2-2023
Slide 11: Sales Development, %
FINANCIALS Q2–2023 – SALES DEVELOPMENT, % % 60 50 40 30 50 46 20 37 38 36 31 30 25 10 13 7 0 -3 -1 -10 -17 -20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Of which organic growth Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 -17,8 -1,
Slide 12: Financials Q2-2023 - EBITA
FINANCIALS Q2–2023 – EBITA +64% 1 016 11,7 10,4 618 Q2 22 Q2 23 Q2 22 Q2 23 EBITA MSEK EBITA % INTERIM REPORT Q2-2023
Slide 13: EBITA Development
FINANCIALS Q2–2023 – EBITA* DEVELOPMENT MSEK % 1 100 11,7 12 1 000 11 10,4 10,4 900 9,8 9,4 9,5 10 800 8,4 9 700 8,3 7,9 600 8 500 1 016 7 400 702 6 300 618 622 570 431 5 200 366 407 338 100 4 0 3 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 EBITA EBITA % * Excluding items affecting compara
Slide 14: EBITA Development, %
FINANCIALS Q2–2023 – EBITA* DEVELOPMENT, % % 80 70 60 50 40 70 70 69 72 30 64 48 20 43 25 10 0 4 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 * Excluding items affecting comparability INTERIM REPORT Q2-2023
Slide 15: P&L
FINANCIALS Q2–2023 – P&L MSEK Q2 2023 Q2 2022 Change % R12 12M 2022 Sales 8 654 5 938 46% 27 829 22 638 Organic change % 1,7% Change through acquisitions % 37,5% Exchange rate % 6,5% Change total % 45,7% EBITA excl. items affecting comparability 1 016 618 64% 2 909 2 217 EBITA % 11,7% 10,4% 10,5% 9,
Slide 16: Earnings Per Share
FINANCIALS Q2–2023 – EARNINGS PER SHARE SEK +41% 1,4 1,3 1,2 1,1 1,0 0,9 0,8 0,7 1,39 0,6 0,5 0,98 0,4 0,3 0,2 0,1 0,0 Q2 22 Q2 23 INTERIM REPORT Q2-2023
Slide 17: Operating Cash Flow
FINANCIALS Q2–2023 – OPERATING CASH FLOW MSEK 200 150 100 +162 50 0 162 -50 21 -100 28 196 449 -150 76 358 -200 -250 -300 -350 -400 Q2 22 EBITDA Working capital Capex Leasing Other Q2 23 INTERIM REPORT Q2-2023
Slide 18: Operating Cash Flow
FINANCIALS Q2–2023 – OPERATING CASH FLOW MSEK 700 1,0 600 0,9 500 0,8 400 0,7 300 633 0,6 200 307 0,5 100 182 0,4 0 -100 -207 -196 0,3 -209 -313 -295 -358 0,2 -200 -300 0,1 -400 0,0 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 INTERIM REPORT Q2-2023
Slide 19: Net Debt
FINANCIALS Q2-2023 – NET DEBT Net debt Net debt / EBITDA* 2,8 2,8 2,7 2,7 MSEK Q2 23 Q2 22 2,6 2,5 2,6 2,5 2,4 2,4 L12M EBITDA excl. Items affecting comparability 3 503 2 187 2,2 2,1 2,1 2,0 Net debt 8 901 6 148 1,8 Of which 1,6 Pension debt 116 151 1,4 1,2 Leasing liabilities, according to IFRS 16
Slide 20: Summary
Summary Q2 - continued positive growth trend with highest EBITA margin ever Sales growth of 46% driven by organic growth of 2% and acquisitions growth of 38% EBITA growth of 64% and improved margin from 10,4% to 11,7% Cash flow in accordance with normal seasonal pattern and inventory started t
Slide 21: Q&A
Q&A INTERIM REPORT Q2-2023
Slide 22: Thank you
Thank you INTERIM REPORT Q2-2023