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Beijer Ref reports record first quarter sales

SWEDEN: Wholesaler Beijer Ref has reported a record first quarter with net sales reaching SEK7,378m (€652m), a 50.5% increase on 2022.

Organic sales increased 14.5% in the quarter compared to the previous year. Acquisition effects amounted to 30.2% and currency effects were 5.8%. 

The acquisitions of the US wholesaler Heritage Distribution (North America), as well as Transport Cooling (South Africa) were completed in the first quarter.

EBITA amounted to SEK702m (€62m), an increase of 72.4% compared to the same period last year. 

Supply chain issues continued to impact the business during the quarter, but CEO Christopher Norbye reported that the situation was improving, especially regarding lead times for products and components. “We expect a normalisation of warehouse stocks, adjusted for our seasonal variations, in the second half of 2023,” he predicted.

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