Beijer Ref Ab Class B · OMXSTO:BEIJ_B
Beijer Ref Ab Class B — Q3 2026 Earnings Presentation
15 slides from Beijer Ref Ab Class B's earnings presentation, October 2026
Slide 1: Q3 2026 Interim report conference call
Q3 2026 Conference call Interim report 1
Slide 2: Overall strong quarter
Net sales, MSEK Operating cash flow, MSEK 11,641 2,181 Q3 2026 Highlights +20% YoY · +8% organic improvement in tied-up WC Overall strong quarter EBITA, MSEK Earnings per share 1,350 +19% +19% YoY · 11.6% margin strong earnings • The strong underlying organic growth trend from Q2 continued to accele
Slide 3: Continued strong organic growth momentum
Group Q3 2026 Continued strong organic growth momentum Organic Acquisitions FX Total Sales Growth +8% +9% +2% +20% YTD +3% YTD +6% YTD -2% YTD +8% Reported sales per quarter Beijer Ref Group Q3 MSEK +20% 13,000 Q3 sales growth of 20% 11,641 12,000 • Hot summer and accelerating demand for air 11,000
Slide 4: Good organic growth across all product segments
Group Q3 2026 Good organic growth across all product segments OEM HVAC Commercial & Industrial Ref. ~7% of Group sales ~64% of Group sales ~29% of Group sales 1,000 35% 8,000 35% 4,000 35% 875 30% 7,000 30% 3,500 30% 750 25% 6,000 25% 3,000 25% 625 20% 5,000 20% 2,500 20% 500 15% 4,000 15% 2,000 15%
Slide 5: Record underlying EBITA%
Group Q3 2026 Record underlying EBITA% EBITA growth EBITA margin +19% 11.6% YTD +8% YTD 11.2% (11.1) 1,500 14.0% 1,350 11.4% 11.7% 11.6% 12.0% 11.3% 1,200 1,133 1,084 959 10.0% 900 8.0% 6.0% 600 4.0% 300 2.0% 0 0.0% Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 23 23
Slide 6: Division EMEA: Strong sales and profitability
Q3 2026 Division EMEA ~60% of Group sales Strong sales and profitability Organic Acquisitions Total Sales Growth Total EBITA Growth EMEA +12% +5% +19% +22% Q3 sales growth of 19% YTD +5% YTD +4% YTD +8% YTD +8% • The strong underlying organic growth trend in Q2, adjusted for Eastern Europe, continue
Slide 7: Division APAC: Continued margin expansion
Q3 2026 Division APAC ~14% of Group sales Continued margin expansion Organic Acquisitions Total Sales Growth Total EBITA Growth APAC 0% +1% +8% +12% Q3 sales growth of 8% (+1%, adjusted for FX) YTD +3% YTD +1% YTD +5% YTD +8% • Continued strong market performance in the Commercial and Industrial Ref
Slide 8: Our North America platform continues to expand
Q3 2026 Division North America ~26% of Group sales Our North America platform continues to expand Organic Acquisitions Total Sales Growth Total EBITA Growth North America +3% +25% +30% +23% Q3 sales growth of 30% YTD 0% YTD +15% YTD +10% YTD +9% • Strong M&A contribution • Positive organic growth mo
Slide 9: EPS growth of 19%
Financials Q3 2026 EPS growth of 19% MSEK Q3 2026 Q3 2025 Δ 9M 2026 9M 2025 Δ Sales 11,641 9,726 20% 30,976 28,805 8% EBITA 1,350 1,133 19% 3,455 3,204 8% EBITA margin, % 11.6% 11.7% 11.2% 11.1% EBIT 1,286 1,079 19% 3,273 3,041 8% Net financial income/expense -131 -128 -362 -386 Tax -279 -214 -721 -
Slide 10: Strong operating cash flow driven by earnings growth and working capital improvement
Financials Q3 2026 Strong operating cash flow driven by earnings growth and working capital improvement Operating cash flow, Q3 2.2 BSEK (1.6) YTD 2.9 BSEK (2.7) Operating cash flow, MSEK MSEK 3,000 2,400 2,181 2,200 2,500 -114 2,000 -166 -11 1,800 2,000 896 1,617 1,600 1,400 1,500 1,231 1,200 2,181
Slide 11: Continued strong balance sheet
Financials Q3 2026 Continued strong balance sheet Net debt MSEK Q3 26 Q3 25 LTM EBITDA excl. IAC 5,066 4,825 LTM EBITDA impact of leasing (IFRS 16) -733 -680 LTM EBITDA excl. leasing (IFRS 16) and IAC 4,333 4,145 Net debt 11,703 9,022 Of which Net debt / EBITDA* excl. leasing and pension Pension deb
Slide 12: Concluding remarks: Overall strong quarter
Q3 2026 Concluding remarks Overall strong quarter • Record sales of ~11.6 BSEK (+20%) – organic growth +8% • Record EBITA of ~1.4 BSEK (+19%) – underlying EBITA margin at 11.9% • Operating cash flow exceeded 2 BSEK for the first time ever • Earnings per share of 1.71 SEK (1.44). EPS growth of 19% •
Slide 13: Q&A Conference call
Q&A Conference call 13
Slide 14: Forward-looking statements
Disclaimer Forward-looking statements This presentation may contain forward-looking statements regarding Beijer Ref’s future development, performance and market conditions. Such statements reflect management’s current expectations and are subject to risks and uncertainties that may cause future outc
Slide 15: BELJIER REF
BELJIER REF