Beijer Ref reports record profit in Q2

SWEDEN: Wholesaler Beijer Ref has revealed Q2 as its best ever quarter, with sales of SEK9,681m (€835m) and record profitability.

Sales were up 11.9% on the corresponding quarter in 2023. Organic sales increased by 2.2%, while acquisition effects were 9% and currency effects 0.6%. 

With EBITA up 13% to SEK1,148m (€99m) and a margin amounting to 11.9% (11.7) were a record for one quarter. 

CEO Christopher Norbye reported that all product segments showed positive organic sales. The OEM segment reported an increase of 8%, mainly driven by the EMEA region, which reported growth of 16%. HVAC and commercial and industrial refrigeration reported organic growth of 2% and 1%, respectively, in the quarter.