Acquisitions boost Beijer Ref sales in 2023
31st January 2024
SWEDEN: Acquisitions boosted wholesaler Beijer Ref’s net sales in 2023 to SEK32,150m (€2,863m), a 42% increase on 2022. Organic sales grew 1.4%.
EBITA before items affecting comparability amounted to SEK3,398m (€2,863m), a 53% increase on 2022 and corresponding to a margin of 10.6%.
Fifteen acquisitions were consolidated into the group’s accounts in 2023, of which Heritage Distribution was assessed as a material acquisition, contributing sales of SEK6,336m (€564m). With 64 branches and headquarters in Atlanta, Georgia, the $1,275m purchase of Heritage Distribution was Beijer Ref’s first US acquisition.
The cumulative 12-month figures for 2023 were released following Q4 net sales of SEK7,627m (€679m), a 31% increase on 2022. Organic sales fell by -4.1%.
Sales in EMEA in 2023 were SEK20,254m (€1,801m), an 11.1% increase on the previous year. Beijer Ref’s Asia-Pacific sales were SEK5,633m (€501m), up 25.9% on 2022.
