Beijer Alma (BEIA) Q3 2024 earnings summary

Executive summary

• Achieved modest organic growth in Q3 2024 despite a slowing European industrial economy, with stable performance in the Nordics, Asia, and UK, but continued weakness in Germany and Central Europe.

• Lesjöfors experienced mixed demand, with industrial growth in several regions but a slowdown in chassis springs; Beijer Tech saw stable demand and strong growth in fluid technology, supported by recent acquisitions.

• Net revenue for Q3 2024 was MSEK 1,683, up 0.4% year-over-year, with organic growth of 1%.

• Adjusted operating profit (EBIT) was MSEK 212, margin at 12.6%, down from 13.4% last year.

• Profit after net financial items rose 89% to MSEK 341, driven by a MSEK 187 reversal of additional purchase considerations.

Financial highlights

• Net revenue for Jan–Sep 2024 was MSEK 5,380, up 4% year-over-year; organic growth was 2%.

• Order bookings declined by 1% to MSEK 1,650, but increased organically by 1%.

• Adjusted operating profit for Jan–Sep was MSEK 703, up from MSEK 686.

• Cash flow from operating activities in Q3 was MSEK 212, down from MSEK 343 last year.

• Net debt at quarter-end was MSEK 2,255, corresponding to 1.8x adjusted EBITDA.

Outlook and guidance

• No clear upturn expected in the near term for Germany and Central Europe; demand remains weak and stable post-summer.

• Management remains focused on long-term growth through organic initiatives and acquisitions, particularly in fluid technology and industrial segments.

• The Group continues to seek attractive acquisition targets while balancing with savings and organic growth.