Beijer Ref sales up, profits down
SWEDEN: Beijer Ref’s acquisition of UK refrigeration wholesaler HRP contributed to a 5.4% increase in third quarter sales, the company reports.
Net sales for the third quarter of 2016 increased to SEK2,461m (€254m), up from SEK2,335 (€241m) in the corresponding period in 2015. Operating profit, however, was down by 4.5% to SEK173m (€17.85m).
“Although profit for the quarter did not reach the level of the previous year, the third quarter of the year was one of our strongest quarters ever,” said Beijer Ref CEO Per Bertland. “Only the month of July was the weak month of the quarter, whilst both August and September showed growth, organically as well as incrementally.”
While sales in the Nordic countries were down, Central Europe is said to have shown growth, mainly due to the consolidation of HRP in the UK.
Per Bertland also revealed progress of efficiency plans through a worldwide restructuring of the business. This involves the creation of a clear structure with the appointment of a country manager and a joint back-office in every country.
“The United Kingdom, France, the Netherlands and Norway are the remaining countries in which we are currently implementing these measures which will give us a more efficient organisation and clear cost savings.”
He also hinted at an expansion of the group’s internet activities. “During the quarter, we have initiated the work of strengthening our digital competence. There are significant opportunities with digitalisation in our sector and the objective is to develop our digital capacity,” he said.
Latest news from the world of air conditioning and refrigeration
UK: Industrial refrigeration contractor Stonegrove Refrigeration has appointed Steve Gowing as design and project engineer.
UK: Javac UK, the refrigerant recovery and vacuum pump supplier, has been named as Climate Centers’ Supplier of the Year for the second year running.
UK: Ruskin Air Management has been renamed Swegon Air Management following its acquisition by the Swedish manufacturer Swegon.
SWEDEN: Heat exchanger manufacturer SWEP is to close its manufacturing plant in Tentlingen, Switzerland, moving production to factories in Slovakia and Sweden.
IRAN: German compressor manufacturer Bitzer has established a subsidiary company in Iran.
USA: Seven local residents are reported to be suing Honeywell after a chemical leak at its Geismar, Louisiana, plant in August.
BELGIUM: Daikin Europe’s factory in the Czech Republic has joined the group’s factory in Ostend by becoming certified to the BRE’s responsible sourcing standard.
USA: Parker Hannifin and Daikin were the big winners in a unique competition designed to raise the level of awareness of the HVACR industry both in school and government.