GIA acquisition boosts Beijer Ref sales
24th October 2024
SWEDEN: Wholesaler Beijer Ref has reported a sales increase of 12% to SEK9,493m (€832m) in Q3, compared to the same period in 2023.
Organic sales increased by 3% in the quarter, with acquisitions contributing 12% and currency effects amounted to -3%. Beijer Ref acquired 75% of Spanish distributor GIA during the quarter, a company with an annual turnover of €96m.
EBITA was SEK1,084 million (€95m), an increase of 13% compared with the corresponding period last year.
Beijer Ref’s OEM business continued to demonstrate good organic growth, reporting an increase of 11%. Organic growth for HVAC was stable at 3%, while organic sales for commercial and industrial refrigeration was in line with the corresponding period in 2023.
The latest figures bring net sales for the first nine months of the year to SEK 26,854 million (€2,351m), an increase of 9.5% on the same period last year. Organic sales increased by 0.5%, acquisition effects amounted to 9.9% and currency effects amounted to -0.8%.
