Beijer Ref AB (FRA:BRZ0)
€ 11.38 +0.19 (+1.7%) Market Cap: 5.77 Bil Enterprise Value: 6.64 Bil PE Ratio: 27.10 PB Ratio: 2.72 GF Score: 98/100

Q3 2025 Beijer Ref AB (publ) Earnings Call Transcript

Oct 24, 2025 / 08:00 AM GMT
Release Date Price: €13.56 (-1.06%)

Key Points

Positve
  • Beijer Ref AB (STU:BRZ0) reported a solid quarter with organic growth of 5% and acquisition growth of 3%, despite a negative currency impact of 6%.
  • The company achieved a record margin of 11.7% in Q3, indicating strong profitability across its regions.
  • Cash flow remains robust, with a significant improvement in inventory management contributing to a strong balance sheet.
  • EPS grew by 11% despite currency headwinds, showcasing strong financial performance.
  • The acquisition of a leading HVAC distributor in the Baltics is expected to enhance the company's market position and growth potential.
Negative
  • Currency fluctuations negatively impacted the company's financial results by 6%, posing a challenge to overall growth.
  • The company is undergoing a strategic consolidation program, which involves a one-off cost of 150 million and may disrupt operations in the short term.
  • The North American market remains challenging, with a focus on transitioning to new A2L refrigerants, which could impact growth.
  • The OEM segment in APEC has shown limited growth over the past quarters, indicating potential market saturation or competitive pressures.
  • Despite strong performance, the company operates in a generally flattish market, which could limit future growth opportunities.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BEIJb.ST - Beijer Ref AB (publ)
Q3 2025 Beijer Ref AB (publ) Earnings Call
Oct 24, 2025 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Hi everyone, Christopher and Yoel here. So we'll, as usual, take you through, some slides, and then we'll get into some Q&A. So maybe if we move to the The first slide so you can see it. So summarizing Q3 a little bit on the high level, a very solid quarter in all segments and areas I would say.

As you can see, we had a good organic growth of 5%, acquisition growth of 3%, and then a negative currency around 6%. But all in all, we'll come back to the segments and the geography is growing and also putting up very good numbers on the profit side, we have another record margin here in Q3. 11.7%. So we would say a very good development in our regions to support that margin.

Cash flow continues to be strong, which is
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