Beijer Ref (BEIJ) investor relations material

Executive summary

• Achieved record quarterly net sales of SEK 10,785 million, up 6% year-over-year, with organic growth of 1% and underlying organic growth of 5% when adjusted for Eastern Europe; acquisitions contributed 5% to sales growth.

• EBITA reached SEK 1,301 million, a 5% increase, with an EBITA margin of 12.1%, matching last year's all-time high.

• EPS for the quarter was SEK 1.63, a 5% increase; net profit reached SEK 834 million.

• Closed the acquisition of AM Distributors in Florida, expanding presence in a new state and adding annual sales of ~460 MSEK.

• Digital sales grew by double digits, and private label expansion in the U.S. is progressing rapidly.

Financial highlights

• Net sales for Q2 2026: SEK 10,785 million (+6% year-over-year); EBITA margin: 12.1%.

• Net profit for Q2 2026: SEK 834 million (+5%).

• EPS for Q2 2026: SEK 1.63 (+5%).

• Operating cash flow for Q2: SEK 293 million, lower than last year due to accounts receivable build-up.

• Rolling 12-month operating cash flow at SEK 4 billion.

Outlook and guidance

• Expect strong cash flow generation in Q3 and Q4 as accounts receivable normalize.

• EMEA expected to continue positive momentum, with HVAC and OEM backlogs at record levels.

• Robust acquisition pipeline and private label expansion support long-term growth ambitions.

• Anticipate double-digit growth in OEM segment for the foreseeable future, supported by strong backlogs.

• Strong long-term growth drivers include sustainability, electrification, and regulation.