SWEDEN: A strong end to the year boosted Beijer Ref turnover to SEK7,189m (€762m) last year – a 9% increase on 2013.
Europe’s largest refrigeration wholesaler achieved sales of SEK1,789.7m (€190m) in the final quarter of 2014 – a 12.6% increase on the same period in 2013. Operating profits rose nearly 17% to SEK115.5m (€12.24m) but net profits were even better, leaping 35% to SEK82.5m (€8.74m).
The Group’s best quarter in 2014 was boosted by sales increases of 23% in the Nordic countries; Central Europe and Africa and Asia saw sales rise 10%; Thailand achieved 6% and South Africa 18%.
The performance of its UK companies continued to impress but Southern Europe is still struggling to achieve the sales levels that prevailed prior to the conflict between Russia and Ukraine and the European financial crisis. The five countries, South Africa, Namibia, Botswana, Mozambique and Zambia showed that Africa with its considerable requirement for modern refrigeration systems remains a highly interesting market for Beijer Ref with 10% organic growth in the fourth quarter.