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Investing.com -- Beijer Ref, the international technology-oriented trading group, has announced a solid first quarter, with net sales reaching SEK 8,898m. This figure is 1% above the Infront consensus and marks a 15.9% year-on-year increase, as well as a 4.3% organic growth.
As a result of the positive report, shares in the company rose by 7%.
The company’s EBITA was reported at SEK 832m, 5% above consensus, reflecting a 13.4% year-on-year increase. This resulted in a margin of 9.4%, slightly down from the 9.5% reported in the first quarter of 2024.
All product segments within the company experienced positive organic growth. The HVAC segment grew by 6%, the OEM segment by 3%, and the Commercial and Industrial Refrigeration segment by 2%.
From a regional perspective, the Asia-Pacific (APAC) region led with 6.7% organic growth, followed by North America with 5.9%, and Europe, the Middle East and Africa (EMEA) with 3.1%. The recent acquisitions’ dilution impact led to a 1pp decline in the EBITA margin in North America.
In the EMEA region, positive foreign exchange effects partially counteracted the continued price pressure on heat pumps in Eastern Europe. The company anticipates a limited impact from this for the rest of 2025.
In the APAC region, a 0.6pp improvement was driven by a continued focus on the company’s own brands and a strategic focus on complete HVAC solutions.
Beijer Ref also noted that trade tariffs have not significantly impacted its business, thanks to regional supply flows that keep it well-positioned.
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