Beijer Ref reports strong Q3 with 8.3% organic growth

Beijer Ref AB reported third-quarter net sales of SEK 11,641 million, representing a 19.7% increase from the same period last year. The company’s organic growth reached 8.3%, up from 1% in the second quarter.

The EMEA region led performance with organic growth of 12.5%, supported by a strong cooling season and momentum across Western Europe. North America posted organic growth of 3.4%, while the APAC region remained largely flat with 0.2% organic growth.

By product segment, OEM showed the strongest performance with 19% organic growth. HVAC accelerated to 10% organic growth, while Commercial & Industrial Refrigeration grew 4%.

Adjusted EBITA reached SEK 1,350 million, up 19.1% year-over-year, with a margin of 11.6% compared to 11.7% in the third quarter of 2025. The quarter included SEK 30 million in acquisition costs. Excluding these costs, the margin would have been 11.9%, marking a record for the third quarter.

EMEA generated adjusted EBITA of SEK 868 million with a 12.3% margin. North America posted adjusted EBITA of SEK 409 million with a 13.4% margin, while APAC reported SEK 153 million with a 9.7% margin.