Beijer Alma (BEIA) Q2 2024 earnings summary

Executive summary

• Q2 2024 delivered stable growth, with net revenue rising to MSEK 1,885 and order bookings to MSEK 1,892, driven by both organic and acquisition-led expansion despite a weak industrial economy.

• The Nordic region led performance, while Central Europe and Asia experienced weaker demand.

• Two acquisitions were announced: Clemco Norge AS (Beijer Tech) and Clifford Springs Ltd (Lesjöfors).

• Beijer Tech saw robust growth in Fluid and Niche Technologies, while Lesjöfors achieved organic order intake growth.

• 25 acquisitions have been completed since 2019, supporting the group’s growth strategy.

Financial highlights

• Order bookings increased by 5% to MSEK 1,892 (2% organic); net revenue up 4% to MSEK 1,885 (2% organic) year-over-year.

• Adjusted operating profit (EBIT) rose to MSEK 249, with margin improving to 13.2% from 12.0% last year.

• Profit after net financial items (EBT) was MSEK 190, up 13.4% year-over-year.

• Cash flow from capital expenditure was MSEK 167, following normal seasonal patterns.

• Net debt/equity ratio improved to 46.9% from 51.0% last year; net debt stood at MSEK 2,367.

Outlook and guidance

• Economic uncertainty and high interest rates require balancing growth investments and savings.

• Focus remains on profitable growth through acquisitions, leveraging a strong financial position.

• M&A market activity remains high, providing opportunities for further acquisitions.