SWEDEN: Latest financial figures from Beijer Ref indicate that it is strengthening its position as the largest refrigeration wholesaler in Europe.
Results for the second quarter of 2014, just released, shows that the group consolidated the positive trend from the first quarter with a sales increase of 9.3% to SEK1,870.8m and an operating profit of SEK136.9m.
Central Europe is said to have shown good development during the second quarter and the UK again saw increased sales and increased market share. The report notes that “In the UK, Beijer Ref’s competitive distribution and service concept to nationally operating customers is achieving increased penetration in the market.”
Holland and Germany were also singled out for praise.
Southern Europe is also seeing increased sales and accounts for around 40% of Beijer Ref’s business. Spain is the fastest expanding market in southern Europe, with increased demand for comfort cooling.
In the Eastern European market, Poland is leading the development with a significant increase in sales within both commercial and industrial refrigeration and hvac.
In the Nordic market, the trend in the Sweden has been ‘wait-and-see’, but a strong end to the quarter was seen as a positive sign.
Denmark and Finland developed well. Sweden and Norway started the quarter slightly weaker but turned the trend during June with Beijer Ref reporting “cautious optimism” for both countries.
In the rest of the world, Thailand’s development is said to have stabilised after the recent disturbances and South Africa is developing according to plan.
The report recognises that a contributing factor in the quarter’s results, albeit a minor influence, is the positive currency effects of the stronger Euro, “something that must be seen as welcome after a long period with the opposite situation”, says the report.
The manufacture of refrigeration units produced by the company itself is said to be a growing and increasingly prioritised segment within Beijer Ref.
“As one of the largest and most modern refrigeration wholesalers in the world, an understanding of our customers’ refrigeration requirements has been built up within the Group. We are transferring this refrigeration competence to a growing portfolio with refrigeration units produced by the company,” says the report.
“Our ambition is that Beijer Ref will increasingly be able to offer even more competitive energy-efficient solutions, both with regard to individual standard units and customer-adapted overall concepts with the most modern environment technology.”
Increased sales of comfort cooling during the second quarter was seen as reflecting the continued economic upturn in Europe.
Beijer Ref group companies around the world offer a diverse range of brands but Toshiba, Samsung and Mitsubishi are singled out as having shown strong sales.
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