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Acquisitions boost Beijer Ref sales in 2023

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.

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