"We began the year strongly with organic sales increase of 16 per cent. All of our geographical segments had positive developments and we report total sales growth of 31 per cent compared with the same period last year. Our southern hemisphere markets had a good summer season and the acquisitions in Asia Pacific (APAC) show good growth", says Christopher Norbye, CEO Beijer Ref.

FIRST QUARTER

• Organic sales rose 15.8 per cent in the quarter compared to the previous year. Acquisition effects were 10.0 per cent and currency effects were 5.6 per cent. Net sales increased by 31.4 per cent to SEK 4,903 million (3,731).
   
• EBITA amounted to SEK 407 million (275), which is an increase of 48,3 per cent over the same period last year. The EBITA margin amounted to 8.3 per cent (7.4). This is Beijer Ref’s best ever first quarter, in absolute terms.
   
• Operating cash flow has been negative during the quarter and was -295 (386). Cash flow has been affected by the higher business activity during the quarter, as well as by a conscious increased service level on inventory ahead of the coming peak season.
   
• Profit per share was SEK 0.71 (0.47), which is an increase of 49.4 per cent.
   
• During the quarter, an acquisition of 80 per cent of the shares in Deltron in Croatia was completed, with an option to acquire the remaining shares. The company has annual sales of approximately SEK 400 million with good profitability. At the end of the quarter, two small supplementary acquisitions were also made in Australia.

TELEPHONE CONFERENCE Q1 2022
The company invites investors, analysts and the media to attend a telephone conference at which CEO Christopher Norbye and CFO Ulf Berghult will present the interim report for the first quarter of 2022. The presentation is held in English and lasts about 30 minutes. The meeting is on 21 April at 10.00 CET.

Audiocast & teleconference:

Webcast: https://financialhearings.com/event/43189

Teleconference: Dial-in-number: 
SE: +468 505 58 373
UK: +44 33 330 09 034
US: +16 46 722 49 56

The presentation will also be available on the company’s website www.beijerref.com from 08.40 on 21 April.

This interim report for Beijer Ref AB (publ) has been submitted following approval by the Board of Directors.

Malmö, 21 April 2022

Beijer Ref AB (publ)
Christopher Norbye, CEO 

For more information on this report:

Christopher Norbye, CEO
+4640 35 89 00

or

Ulf Berghult, CFO
+4640 35 89 00

www.beijerref.com

BEIJER REF AB is a technology-oriented trading Group which, through added-value products, offers its customers competitive solutions within refrigeration and climate control. Beijer Ref is one of the largest refrigeration wholesalers in the world, and is represented in 41 countries in Europe, Africa, Asia and Oceania.

This disclosure contains information that Beijer Ref AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 21-04-2022 08:30 CET.