Slide 1: Beijer Ref AB Q1 2022
Beijer Ref AB Q1 2022 Christopher Norbye – CEO Ulf Berghult – CFO 1
Slide 2: Table of content
1 Highlights Table of 2 Financials content 3 Summary 4 Q&A 2
Slide 3: At a glance
At a glance Net Sales (R12M) Employees Countries Branches Customers 18 100 4350 42 450 +100 000 (MSEK) 3
Slide 4: Highlights Q1 2022
Highlights Q1 2022 A good start to the year Sales at 4 903 MSEK an increase of 31,4 percent Organic sales increased by 15,8 percent Acquisition impact of +10,0 percent FX impact of +5,6 percent EBITA at 407 MSEK, corresponding to a growth of 48 percent with a margin of 8,3 percent (7,4)
Slide 5: Highlights Q1 2022
Highlights Q1 2022 Organic growth by product groups +16% A good start to the year 5 000 4 500 All regions report a double digit positive organic growth with East 4 000 3 500 Q1 2021 Q1 2022 Europe reporting +60 percent 3 000 +20% 2 500 +14% Product area HVAC grew organically with +20 percent in
Slide 6: Update External
Update External Increase of heat pumps in Europe due to F-gas revision promises steeper phase down incentives and shift over to green technology Refrigerant bulk purchase price (Europe) 35,0 30,0 25,0 20,0 EUR/kg 15,0 10,0 5,0 0,0 Traditonal refrigerants (R134a, R404A, R407C, R410A) Transitional ref
Slide 7: Financials Q1 2022
BEVER REF Financials Q1 2022
Slide 8: Q1 2022 Sales growth
Q1 2022 Organic EPS Sales EBITA growth Growth growth Change in EBITA, % Change in % % % 31,4% 15,8% 48,3% 49,4% 8
Slide 9: Q1 2022 - Sales
Q1 2022 - Sales +10,0% +31,4% 5 000 +15,8% 372 4 500 +5,6% 619 4 000 181 3 500 3 000 2 500 4 903 2 000 3 731 1 500 1 000 500 0 Q1 21 FX Organic M&A Q1 22 9
Slide 10: Sales development %
Sales development % % 40 35 30 25 20 37 15 32 31 25 10 14 13 5 10 7 4 1 0 -3 -1 -5 -17 -10 -15 -20 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Of which organic growth % Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 7,8 4,4 5,2 0,9 -3,
Slide 11: Sales - Region
Sales - Region 5 500 +25% 5 000 +25% 37 +130% 205 +30% 68 4 500 246 +22% 395 4 000 +29% 182 113 3 500 3 000 2 500 4 903 2 000 3 731 1 500 1 000 500 0 Q1 21 Nordic Central Europe South Europe East Europe Africa APAC Elim Q1 22 11
Slide 12: Q1 2022 - EBITA
Q1 2022 - EBITA +48% 407 8,3 7,4 275 Q1 21 Q1 22 Q1 21 Q1 22 EBITA EBITA % 12
Slide 13: EBITA development
EBITA development % 450 9,2 9,4 10 400 8,4 8,3 7,6 7,9 7,9 350 7,4 8 300 6,0 6 250 200 431 407 353 366 338 4 150 271 275 253 100 209 2 50 0 0 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 EBITA EBITA % 13
Slide 14: EBITA - Region
EBITA - Region +37% 450 +14% +261% 26 21 400 3 +44% 38 350 +58% 38 +41% 30 300 18 250 200 407 150 275 100 50 0 Q1 21 Nordic Central Europe South Europe East Europe Africa APAC Others Q1 22 14
Slide 15: P&L - Group
P&L - Group MSEK Q1 2022 Q1 2021 Change % R12 2022 12M 2021 Sales 4 903 3 731 31% 18 077 16 905 Organic change % 15,8% 7,3% Change through acquisitions % 10,0% 5,1% Exchange rate fluctuation % 5,6% -5,2% Change total 31,4% 7,3% EBITA 407 275 48% 1 542 1 410 EBITA % 8,3% 7,4% 8,5% 8,3% Operating prof
Slide 16: Earnings per share
Earnings per share % +9% 2,8 2,6 2,4 2,2 2,0 1,8 1,6 1,4 2,80 2,56 1,2 1,0 0,8 +49% 0,6 0,4 0,71 0,2 0,47 0,0 Q1 21 Q2 21 2021 R12 16
Slide 17: Operating cash flow
Operating cash flow 149 386 743 295 10 10 87 Q1 21 EBITDA Working capital Capex Leasing Other Q1 22 17
Slide 18: Operating cash flow
Operating cash flow % 500 1,0 400 300 0,8 200 409 364 386 247 0,6 100 169 166 0 0,4 -100 -330 -289 -295 -200 0,2 -300 -400 0,0 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 18
Slide 19: Net debt
Net debt Net debt Net debt / EBITDA 2,8 2,7 MSEK Q1 22 Q1 21 2,6 2,5 2,4 L12M EBITDA 1 983 1 546 2,2 2,1 2,1 2,1 2,1 2,0 2,0 2,0 Net debt 5 363 3 133 2,0 1,8 Of which 1,6 Pension debt 144 160 1,4 Leasing liabilities, according to IFRS 16 1 521 1 336 1,2 Net debt excluding pension and leasing liabili
Slide 20: Conclusion
Conclusion Mega trends driven by sustainability give us good tailwinds and this is expected to continue Sales at 4 903 MSEK an increase of 31,4 percent and with organic sales increased by 15,8 percent EBITA at 407 MSEK, corresponding to a growth of 48,3 percent with a margin of 8,3 percent (7,
Slide 21: Q&A
BEVER REF Q&A 21
Slide 22: Thank you
BEVER REF Thank you