Beijer Ref AB (publ) (BEIJ_B) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the BEIRE REF Q1 Presentation for 2026. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the CEO, Christopher Norbai and CFO, Joel Davidson. Please go ahead. Good morning and welcome and thanks for calling in. Christopher Norbai here together with Joel. So we'll go over some slide and explain a little bit how we look at the first quarter of the year. And then of course, we'll have some Q and A to wrap it up. So maybe we'll get started right away. So if you summarize this quarter, I would say stable is a very good word. As you all know, Q4 and Q1 for us are somewhat smaller quarter as we're just now starting ramping up for the summer season in most of our key countries around Europe and The US. But in general, had a stable development in most of our markets across the world. Our organic growth for the quarter was flat. We had some effects of weather if you remember in The U. S. Closing down branches three, four days in January. We had extreme comps in some acquired companies, etc. So underlying positive growth in Q1. Acquisition added 3%. We had a fairly steep headwind on the currency in Q1 and hopefully will improve here as we roll over to Q2. On the margins, good development across all regions, margins up in The U. S, margins up in APAC and then flattish a little bit down in EMEA and we'll come into that in there. But in total numbers in line with last year. Cash flow continues to be positive. So we continue to work very active with our cash flow position. We are building inventory here in Q1 and we'll continue to do that here in the beginning of Q2 to ramp up for the summer season, of course. But in general, very good control of the ca...