Sweden · Delayed Price · Currency is SEK Beijer Ref AB Earnings Call Transcripts
Fiscal Year 2026
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Stable Q1 with flat organic growth, strong cash flow, and record green OEM order intake. Margins improved in the U.S. and APAC, while EMEA remained stable. Acquisition pipeline and price increases in EMEA HVAC expected to support growth in the coming quarters.
Fiscal Year 2025
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Delivered strong full-year growth in sales, EBITDA, and cash flow, with record margins and robust M&A activity. Despite FX headwinds and market challenges, organic growth and capital efficiency improved, and the outlook for 2026 is positive, especially in green OEM and U.S. private label expansion.
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Q3 delivered record margins, strong cash flow, and 11% EPS growth despite currency headwinds. All regions showed solid performance, with ongoing efficiency initiatives and acquisitions supporting future growth. Market conditions remain stable but muted, with upside expected as housing and renovation markets recover.
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Q2 saw double-digit growth, record margins, and strong cash flow, with robust performance in EMEA and continued US expansion. The refrigerant transition and M&A pipeline support a positive outlook for H2.
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Q1 2025 saw 16% sales growth, 20% EPS growth, and stable margins across all regions, driven by both organic performance and acquisitions. The business remains resilient amid macro uncertainty, with a strong acquisition pipeline and positive outlook for the year.
Fiscal Year 2024
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Delivered 11% annual growth and a strong Q4 with 15% sales growth and 6% organic growth. Margins remained solid despite currency headwinds, and cash flow and balance sheet strength support continued expansion and acquisitions in 2025.
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Q3 2024 saw 12% sales growth, 13% EBITDA growth, and 17% EPS growth, with strong performance across all regions and segments. The OEM and U.S. businesses led growth, supported by acquisitions and regulatory tailwinds, while cash flow and margins remained robust.
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Q2 2024 saw 12% sales growth, record margins, and strong cash flow, driven by acquisitions and organic recovery. The US and APAC regions delivered standout results, with private label brands and new technology orders supporting future growth.