Beijer Alma (BEIA) Q2 2024 earnings summary

Executive summary

• Achieved organic and acquisition-driven growth in a weak economic environment, with the Nordic region leading performance while Central Europe and Asia lagged.

• Net revenue rose 3.6% year-over-year to MSEK 1,885 in Q2 2024, and adjusted operating profit (EBIT) increased 14.5% to MSEK 249, with a margin of 13.2%.

• Order bookings grew by 5% to MSEK 1,892 (2% organic), and earnings per share rose 14.7% to SEK 2.35.

• Two acquisitions were announced: Clemco Norge (Norway) and Clifford Springs (UK), supporting strategic growth.

• The group has completed 25 acquisitions since 2019, supporting its growth strategy.

Financial highlights

• Order bookings increased by 5% to MSEK 1,892 (2% organic); net revenue rose 4% to MSEK 1,885 (2% organic) year-over-year.

• Adjusted operating profit (EBIT) grew to MSEK 249, margin improved to 13.2% from 12.0% last year.

• Profit after net financial items (EBT) was MSEK 190, up 13.4% year-over-year.

• Cash flow from operating activities was MSEK 235, down from MSEK 336, mainly due to seasonal accounts receivable build-up.

• Dividend of SEK 3.85 per share approved at the AGM.

Outlook and guidance

• Management notes continued economic uncertainty and high interest rates, requiring a balance between growth investments and cost savings.

• M&A market remains active, providing opportunities for further profitable growth.

• Focus remains on profitable growth through acquisitions, leveraging strong financial position.