Beijer Ref Ab Class B · OMXSTO:BEIJ_B

Beijer Ref Ab Class B — Q1 2023 Earnings Presentation

21 slides from Beijer Ref Ab Class B's earnings presentation, 2023

  1. Slide 1: Interim Q1-2023

    Interim Q1-2023 INTERIM REPORT Q1-2023

  2. Slide 2: Table of Content

    1. Highlights TABLE OF 2. Financials CONTENT 3. Summary 4. Q&A INTERIM REPORT Q1-2023

  3. Slide 3: Beijer Ref at a Glance

    BEIJER REF AT A GLANCE Net sales Employees Markets Branches Customers 25 113 5 734 43 >500 >200 000 (R12 MSEK) INTERIM REPORT Q1-2023

  4. Slide 4: Highlights Q1-2023 - Group

    HIGHLIGHTS Q1-2023 - GROUP Good start of the year  Sales at 7 378 MSEK (4 903) an increase of 50 percent  Organic sales increased by 14,5 percent  Acquisition impact of +30,2 percent  FX impact of +5,8 percent  EBITA at 702 MSEK (407), corresponding to a growth of 72 percent with a margin of 9,

  5. Slide 5: Highlights Q1-2023 - Group: Organic growth by product groups

    HIGHLIGHTS Q1–2023 – GROUP Organic growth by product groups 25 20 Good start of the year 15  All product segments reports double digit growth and with 24% HVAC and OEM reports +17% respectively +24%. 10 Commercial & Industrial Cooling reported +10%. 17% 15% 5 10%  Good growth in all Divisions with

  6. Slide 6: Highlights Q1-2023 - Division EMEA

    HIGHLIGHTS Q1–2023 – DIVISION EMEA Continued good development  Overall good sales performance in all product Excl. Comp. Items, MSEK Q1 2023 Q1 2022 Change % R12 2023 R12 2022 segments  HVAC reports a YoY growth of +30% Sales 4 903 3 886 26% 19 249 18 232  OEM continues to deliver and reports a Y

  7. Slide 7: Highlights Q1-2023 - Division APAC

    HIGHLIGHTS Q1–2023 – DIVISION APAC Continued good development  Overall good sales performance in all product Excl. Comp. Items, MSEK Q1 2023 Q1 2022 Change % R12 2023 R12 2022 segments Sales 1 389 1 039 34% 4 822 4 473  HVAC reports +53% YoY growth coming both from organic growth and acquisitions

  8. Slide 8: Highlights Q1-2023 - Division North America

    HIGHLIGHTS Q1–2023 – DIVISION NORTH AMERICA Good start to the year  Sales and EBITA came in better than plan  Repair and Replacement (R&R) demand positive  New construction demand is softening. Excl. Comp. Items, MSEK Q1 2023 Q1 2022 Change % R12 2023 R12 2022  Volumes are down on equipment due

  9. Slide 9: Financials Q1-2023

    FINANCIALS Q1–2023 Organic EBITA EPS growth* Sales growth growth (change in EBITA, %) (change in %) 50% 72% 67% 15% * Excluding Items affecting comparability INTERIM REPORT Q1-2023

  10. Slide 10: Financials Q1-2023 - Sales

    FINANCIALS Q1–2023 – SALES MSEK 7 500 +30,2% 7 000 1 479 6 500 +14,5% 6 000 5 500 749 +5,8% 7 378 5 000 247 4 500 4 903 500 0 Q1 22 FX Organic M&A Q1 23 INTERIM REPORT Q1-2023

  11. Slide 11: Financials Q1-2023 - Sales Development, %

    FINANCIALS Q1–2023 – SALES DEVELOPMENT, % % 60 50 40 30 50 20 37 38 36 31 30 25 10 13 7 0 1 -3 -1 -10 -17 -20 Q1 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 Of which organic growth Q1 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 -3,2 -17,8

  12. Slide 12: Financials Q1-2023 - EBITA

    FINANCIALS Q1–2023 – EBITA +72% 702 9.5 8.3 407 Q1 22 Q1 23 Q1 22 Q1 23 EBITA EBITA % INTERIM REPORT Q1-2023

  13. Slide 13: Financials Q1-2023 - EBITA Development

    FINANCIALS Q1–2023 – EBITA* DEVELOPMENT MSEK % 800 10.4 10.4 11 700 9.8 10 9.4 9,5 600 8.4 9 8.3 7.9 500 7.4 8 400 7 702 300 618 622 6 570 200 431 407 5 366 338 275 100 4 0 3 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 EBITA EBITA % * Excluding Items affecting comparability INTERIM REPORT

  14. Slide 14: Financials Q1-2023 - P&L

    FINANCIALS Q1–2023 – P&L MSEK Q1 2023 Q1 2022 Change % R12 2023 R12 2022 Sales 7 378 4 903 50% 25 113 22 638 Organic change % 14,5% Change through acquisitions % 30,2% Exchange rate % 5,8% Change total 50,5% EBITA excl. items affecting comparability 702 407 72% 2 511 2 217 EBITA % 9,5% 8,3% 10,0% 9,

  15. Slide 15: Financials Q1-2023 - Earnings per Share

    FINANCIALS Q1–2023 – EARNINGS PER SHARE1 SEK +67% 1.1 1.0 0.9 0.8 0.7 0.6 1.08 0.5 0.4 0.3 0.65 0.2 0.1 0.0 Q1 22 Q1 23 1. After dilution and excluding items affecting comparability INTERIM REPORT Q1-2023

  16. Slide 16: Financials Q1-2023 - Operating Cash Flow

    FINANCIALS Q1–2023 – OPERATING CASH FLOW MSEK 200 150 100 +86 50 (+29%) 0 -50 162 -100 209 337 25 -150 295 23 41 -200 -250 -300 Q1 22 EBITDA Working capital Capex Leasing Other Q1 23 INTERIM REPORT Q1-2023

  17. Slide 17: Financials Q1-2023 - Operating Cash Flow

    FINANCIALS Q1–2023 – OPERATING CASH FLOW MSEK 700 1.0 600 0.9 500 0.8 400 0.7 300 633 0.6 200 279 307 0.5 100 182 0.4 0 -100 -207 0.3 -209 -313 -295 -358 0.2 -200 -300 0.1 -400 0.0 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 INTERIM REPORT Q1-2023

  18. Slide 18: Financials Q1-2023 - Net Debt

    FINANCIALS Q1-2023 – NET DEBT Net debt Net debt / EBITDA* 2.8 2.8 2.7 2.7 MSEK Q1 23 Q1 22 2.6 2.6 2.5 2.4 2.4 L12M EBITDA excl. Items affecting comparability 3 054 1 983 2.2 2.1 2.1 2.0 2.0 Net debt 7 259 5 363 1.8 Of which 1.6 Pension debt 110 144 1.4 1.2 Leasing liabilities, according to IFRS 16

  19. Slide 19: Summary

    Summary Strong start to the year  Sales growth of 50,5% driven by strong organic growth of 14,5% and acquisitions growth of 30,2%  EBITA growth of 72% and improved margin from 8,3% to 9,5%  Solid development in all our regions and product groups SOLID FOUNDATION FOR CONTINUED LONG TERM GROWTH  C

  20. Slide 20: Q&A

    Q&A INTERIM REPORT Q1-2023

  21. Slide 21: Thank you

    Thank you INTERIM REPORT Q1-2023

Beijer Ref — Q1 2023 Earnings Presentation on 6ix