Slide 1: Interim Q2 2024
Interim Q2 2024 INTERIM REPORT Q2 2024 1
Slide 2: Table of Content
1. Highlights TABLE OF 2. Financials CONTENT 3. Summary 4. Q&A INTERIM REPORT Q2 2024 2
Slide 3: Beijer Ref in brief
Beijer Ref in brief Net sales Employees Markets Branches Customers 33 479 6 418 45 500+ 200 000+ (LTM MSEK) INTERIM REPORT Q2 2024 3
Slide 4: Highlights Q2 2024 – Group
Highlights Q2 2024 – Group MSEK Net sales and EBITA, excl. IAC*, % Record quarter with positive organic growth and 11,9% 10 000 11,7% strong profitability 10,4% 8 000 9,4% • Sales at 9 681 MSEK (8 654), an increase of 12% 6 000 9 681 • Organic sales increased by 2% 4 000 8 654 4 561 5 938 • Acquisit
Slide 5: Highlights Q2 2024 – Group
Highlights Q2 2024 – Group • Positive organic growth across all product segments MSEK Organic sales per product segment Sales split 10 000 2% • OEM segment, continued strong growth 9 000 8 000 • EMEA growth of 16% 7 000 33% 6 000 2% • Breakthrough orders in both SCM Frigo and Fenagy 5 000 4 000 1% 5
Slide 6: Highlights Q2 2024 – Division EMEA
Highlights Q2 2024 – Division EMEA Continued good growth in the OEM segment & MSEK Q2 24 Q2 23 Change, % 6M 24 6M 23 positive turnaround in the HVAC segment Net sales 5 736 5 520 4 10 385 10 423 Of which currency effect, % 0,7 • Division EMEA reported YoY growth of 4% – the largest increase EBITA 71
Slide 7: Highlights Q2 2024 – Division APAC
Highlights Q2 2024 – Division APAC Continued good development MSEK Q2 24 Q2 23 Change, % 6M 24 6M 23 Net sales 1 519 1 317 15 3 085 2 706 • Sales in the quarter increased by 15% – driven by acquisitions Of which currency effect, % -0,4 and a growing demand for commercial refrigeration EBITA 135 89 5
Slide 8: Highlights Q2 2024 – Division North America
Highlights Q2 2024 – Division North America Good and eventful quarter MSEK Q2 24 Q2 23 Change, % 6M 24 6M 23 • Sales growth in the quarter of 34%, primarily driven by Net sales 2 447 1 827 34 3 933 2 944 acquisitions. Favourable weather conditions at the end of the Of which currency effect, % 1,2 qu
Slide 9: Financials Q2 2024
Financials Q2 2024 Organic EBITA EPS change Sales growth growth (change in EBITA, %) (change in %) 12% 13% 2% 2% INTERIM REPORT Q2 2024 9
Slide 10: Sales
Financials Q2 2024 – Sales MSEK 10 000 +9% 9 500 781 9 000 +2% +1% 192 54 9 681 8 500 8 654 0 Q2 23 FX Organic M&A Q2 24 INTERIM REPORT Q2 2024 10
Slide 11: Sales development, %
Financials Q2 2024 – Sales development, % % 55 50 45 40 35 30 25 50 46 20 42 37 38 36 15 31 30 31 25 10 13 12 5 4 0 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Of which organic growth 17,9 33,8 6,4 11,6 15,8 13,3 18,6 17,9 14,5 1,7 -4,4 -4,1 -4,1 2,2 INTERIM REPORT
Slide 12: EBITA
Financials Q2 2024 – EBITA Quarter YTD +13% +10% 1 148 11,7 11,9 1 882 10,7 10,8 1 016 1 718 Q2 23 Q2 24 Q2 23 Q2 24 6M 23 6M 24 6M 23 6M 24 EBITA MSEK EBITA % EBITA MSEK EBITA % INTERIM REPORT Q2 2024 12
Slide 13: EBITA* development
Financials Q2 2024 – EBITA* development MSEK % 11,7 11,9 1 200 12 11,3 1 100 10,4 10,4 11 1 000 9,8 10 900 9,5 9,5 9,5 800 9 700 8 600 1 148 1 016 7 500 959 400 6 702 721 733 300 618 622 570 5 200 4 100 0 3 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 EBITA EBITA % * Excluding items affecti
Slide 14: P&L
Financials Q2 2024 – P&L MSEK Q2 2024 Q2 2023 Change, % 6M 2024 6M 2023 Sales 9 681 8 654 12% 17 360 16 031 EBITA 1 148 1 016 13% 1 882 1 718 EBITA margin, % 11,9% 11,7% 10,8% 10,7% EBIT 1 097 970 13% 1 781 1 636 Net financial income/expense excl. IAC -139 -93 -280 -162 Net financial income/expense
Slide 15: Earnings per share
Financials Q2 2024 – Earnings per share SEK 2,4 -4% 2,2 2,0 1,8 1,6 +2% 1,4 1,2 2,30 2,21 1,0 0,8 1,39 1,42 0,6 0,4 0,2 0,0 Q2 23 Q2 24 6M 23* 6M 24 * Excl. IAC and adjusted to reflect the same average number of outstanding shares for both periods INTERIM REPORT Q2 2024 15
Slide 16: Operating cash flow
Financials Q2 2024 – Operating cash flow MSEK 1 500 1 400 1 300 1 200 1 100 1 000 -728 900 800 700 1 343 600 -134 500 400 -134 6 300 200 354 100 0 EBITDA Working capital CapEx Leasing Other Q2 24 INTERIM REPORT Q2 2024 16
Slide 17: Operating cash flow
Financials Q2 2024 – Operating cash flow MSEK 2 000 1 500 1 000 1 810 500 1 084 633 582 307 354 0 -209 -196 -358 -500 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 INTERIM REPORT Q2 2024 17
Slide 18: Net debt
Financials Q2 2024 – Net debt Net debt Net debt / EBITDA* excl. leasing and pension MSEK Q2 24 Q2 23 2,6 2,5 LTM EBITDA excl. IAC 4 300 3 503 2,4 2,3 2,3 2,2 2,1 LTM EBITDA impact of leasing (IFRS 16) -621 -496 2,1 2,0 1,9 1,9 LTM EBITDA excl. leasing (IFRS 16) and IAC 3 679 3 007 1,8 1,7 1,6 Net de
Slide 19: Summary Q2
Summary Q2 Q2 – Record quarter with positive organic growth and strong profitability • Total sales growth of 12% (organic +2%) – positive organic growth across all product segments • EBITA growth of 13% with a margin of 11,9% – record EBITA and EBITA margin for a quarter • Positive operating cash fl
Slide 20: Q&A
Q&A INTERIM REPORT Q2 2024 20
Slide 21: Thank you
Thank you INTERIM REPORT Q2 2024 21