Cooling wholesaler Beijer Ref has reported third-quarter revenues and operating profits in line with market expectations. Both key figures matched analyst forecasts, signaling continued stability for the company.
Revenue rose by 2.5 percent to SEK 9,726 million (9,493), closely aligning with the Bloomberg analyst consensus of SEK 9,699 million. Organic sales growth reached 5 percent (2.7).
EBITA amounted to SEK 1,133 million (1,084), with an EBITA margin of 11.6 percent (11.4).
"We leave behind us a strong quarter with solid organic growth of 5 percent, a continued improvement in EBITA margin, and strong operational cash flow. Revenue increased by 8 percent and EBITA by 11 percent, excluding currency effects. The EBITA margin was a record high for a third quarter at 11.7 percent, a result of our ongoing focus on strategic initiatives," said CEO Christopher Norbye.
Operating profit stood at SEK 1,079 million (1,033), compared to an expected SEK 1,078 million. The operating margin was 11.1 percent (10.9).
Net profit after tax reached SEK 736 million (666).
Earnings per share came in at SEK 1.44 (1.30).
"The acquisition pipeline is accelerating and we expect robust activity for the rest of the year as well as into 2026," the Beijer Ref chief added.
Beijer Ref also announced a savings program aiming to reduce costs by approximately SEK 100 million per year. The full impact of the program is expected by the end of the first half next year. One-off costs are estimated at SEK 150 million, which will affect the fourth quarter.
"In summary, we are closing a strong quarter that reflects the strength of our business model and the consistent execution of our strategy," Norbye concluded in his statement.
| Beijer Ref, SEK m | Q3-2025 | Consensus | Change vs. Consensus | Q3-2024 | Change |
| Net Revenue | 9,726 | 9,699 | 0.3% | 9,493 | 2.5% |
| Organic Sales Growth, % | 5 | 2.7 | 85.2% | ||
| EBITA | 1,133 | 1,084 | 4.5% | ||
| EBITA Margin | 11.6% | 11.4% | |||
| Operating Profit | 1,079 | 1,078 | 0.1% | 1,033 | 4.5% |
| Operating Margin | 11.1% | 11.1% | 10.9% | ||
| Net Profit | 736 | 666 | 10.5% | ||
| Earnings per Share, SEK | 1.44 | 1.30 | 10.8% |
