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Five strategic focus areas

Five strategic focus areas

Beijer Ref has a clear goal – to strengthen our position as a world-leading player. To achieve this goal, Beijer Ref needs to grow faster than the market.

We therefore work according to a strategy that is divided into five focus areas – acquisitions, OEM, supply chain, digitalisation and sustainability.



Original Equipment Manufacturing (OEM)


Supply Chain


In accordance with the company's strategy, Beijer Ref has set the following long-term financial and non-financial goals.

Financial goals
Grow more quickly than the market
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Beijer Ref will grow more than the market both organically and through acquisitions. In 2019, growth was 13.8% (32.4), of which 4.4% was organic growth (13.4). Total growth has averaged 15.6% over the past five years. Beijer Ref's most important prerequisite for long-term success is profitable growth.
Return on operating capital shall be at least 12%
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Return on operating capital must amount to at least 12%. It gives the business stability and readiness for any changes in the outside world. Over the past five years, Beijer Ref's average return has been 15.9%.
Equity/assets ratio
Equity/assets ratio of at least 30%
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The equity/assets ratio in the Group shall amount to at least 30%. Good equity/assets ratio shows that the Group has a strong financial position, which is a necessity in a company with strong growth. During the last five-year period, the average equity / assets ratio has been 41.8%. The equity/assets ratio has increased over the past year despite the impact of IFRS 16, which has meant that total assets have increased by approximately SEK 1 billion.
Distribute more than 30% of the profit after tax
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Beijer Ref aims to distribute more than 30% of the profit after tax. A good return on invested capital contributes to a stable ownership structure. Over the past five years, the average dividend share has been 48.8%.
Non-financial goals
Green products
Sales of self-manufactured products will increase
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The goal is for sales of self-manufactured products with low GWP values to increase and account for more than 50% of total OEM sales by the end of 2023. Today, that share is 27%.
Knowledge sharing
A total of six academies are established in 2023
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Beijer Ref will open more training academies in environmentally friendly refrigeration technology worldwide in the coming years. The goal is for a total of six academies to be established in 2023. In 2019, the Group had three academies.
Responsible supply chain
Clear agreements with suppliers
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The Group wants to take responsibility and have a dialogue with, above all, 100 main suppliers. The goal is to have clear agreements regarding a code of conduct with these suppliers, which has been achieved during the year.
Business ethics and anti-corruption
All employees will undergo training in 2021
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The company has zero tolerance for corruption and has a well-functioning whistleblower process. The Group has developed an electronic training tool and in 2019, approximately 40% have completed this training. The goal is for all employees to undergo training in business ethics and anti-corruption by 2021.
Equal work place
Higher proportion of women in all positions in the company
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Getting more women into different occupational categories that have long been male-dominated is a challenge but also a great opportunity to secure future labor. The goal is a more equal Beijer Ref with a higher proportion of women in all positions in the company. Today, about 20% of the company's employees are women.
Safe and healthy workplace
Sick leave must be below 5%
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Beijer Ref works for a safe and healthy work environment without accidents. The goal is to have a sick leave below 5%. In 2019, sick leave, in relation to total time worked, amounted to 2.4% (2.2%). The company will offer all salaried employees development talks. The goal is for it to be fully implemented by 2022.