Beijer Ref reports record success in 2018
30th January 2019
SWEDEN: Refrigeration and air conditioning wholesaler Beijer Ref has announced record sales and profits in 2018.
Sales for the year totalled SEK13,015m (€1,254m) in 2018, an increase of 32% on 2017. Profits were also at a record high at SEK780m (€75.2m), an increase of 50% on the previous year.
Described by Beijer Ref CEO Per Bertland 2018 as “a year of historical success for Beijer Ref,” the figures follow a strong fourth quarter which saw record profits on a sales rise of 37%.
“Both the full year and the fourth quarter were affected positively by the European phasing-out programme, which has driven demand for our green technology,” said Bertland. “It is now evident that the EU’s F-gas regulation is starting to make its mark outside Europe.”
“We are seeing more and more interest in and curiosity about both green, natural refrigerants and newly developed, synthetic so-called HFOs on other continents. We have already sold our green technology to customers in Australia, China and South Africa. I am convinced that we have only seen the beginning of this transition. The new technologies will gradually become established outside Europe as well.”
All of Beijer Ref’s regions were reported to have shown good growth, with a strong growth trend continuing in the Nordic region and Europe.
Beijer Ref’s OEM business is also reported to have high order input for green refrigeration installations, with Per Bertland revealing plans for the expansion of the business outside Europe. “The plan is for the first non-European systems to be manufactured in South Africa in early 2019. Work is continuing to expand European production capacity in order to meet the growing demand in Europe.”
Comfort cooling was also said to have performed well during the fourth quarter with growth of almost 50%, 22% of which was organic. “Successful partnerships with our strategic suppliers Toshiba, Mitsubishi Heavy Industries and Carrier are having an effect,” said Bertland.
