Beijer Ref AB (publ) Q2 2025 Earnings | 07/18/2025

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Beijer Ref AB (publ) delivered record-breaking results for the second quarter of 2025, confirming a robust operational and financial performance despite persistent headwinds from currency effects. Net sales reached SEK10,181 million, up 5.2% from SEK9,681 million in the same period last year, with organic growth of 2%. The company achieved its highest-ever EBITA, which rose 7.9% to SEK1,238 million, resulting in a record EBITA margin of 12.2%—the first time in Beijer Ref’s history the margin has surpassed 12% in a quarter. Operating profit rose to SEK1,185 million, an 8% increase year-over-year, while the operating margin advanced to 11.6% from 11.3% in Q2 2024. Net profit totaled SEK789 million, compared with SEK720 million a year ago, and basic earnings per share improved to SEK1.56 from SEK1.42. Operating cash flow saw a significant boost, reaching SEK614 million and reflecting positive seasonal trends as well as improved working capital efficiency. Regionally, EMEA posted outstanding results with sales of SEK6,457 million, up 12.6% year-over-year, and the EBITA margin for this segment improved to 13.0%. North American sales remained resilient at SEK2,383 million, while APAC sales were SEK1,366 million—both regions showing modest organic growth and stable profitability, with APAC's margin improving to 9.7%. Beijer Ref’s strategic focus on innovation and digitalization continued to pay off, as double-digit growth in digital sales and e-commerce expansion in the US contributed to overall business momentum. Management emphasized that positive foreign exchange developments, well-executed strategic initiatives, and strong demand in key segments like HVAC and commercial refrigeration were instrumental in achieving these record results. The Group remains committed to leveraging its international platform, driving margin improvement, and supporting continued stable growth, even in the face of macroeconomic uncertainties. Looking forward, Beijer Ref’s leadership expects to maintain its growth trajectory, sustain high profitability, and further accelerate digital transformation and acquisition initiatives as part of its long-term strategy. #BeijerRef #Q22025 #Earnings #FinancialResults #EBITAMargin #NetProfit #HVAC #Refrigeration #OperatingProfit #EMEA #NorthAmerica #APAC #DigitalGrowth #MarketUpdate