Annonce • May 30
Beijer Ref AB (publ) (OM:BEIJ B) acquired AM Distributors. Beijer Ref AB (publ) (OM:BEIJ B) acquired AM Distributors on May 29, 2026.
The acquisition is expected to have a minor positive impact on Beijer Ref’s results. The company will continue operating under its existing brand.
Beijer Ref AB (publ) (OM:BEIJ B) completed the acquisition of AM Distributors on May 29, 2026. Buy Or Sell Opportunity • May 20
Now 23% overvalued Over the last 90 days, the stock has fallen 1.8% to kr134. The fair value is estimated to be kr109, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 6.5%. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings are also forecast to grow by 8.9% per annum over the same time period. Recent Insider Transactions • May 10
Insider recently bought kr521k worth of stock On the 5th of May, Yann Talhouet bought around 4k shares on-market at roughly kr129 per share. This transaction amounted to 6.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr7.2m more in shares than they have sold in the last 12 months. Buy Or Sell Opportunity • May 05
Now 20% overvalued Over the last 90 days, the stock has fallen 2.1% to kr129. The fair value is estimated to be kr107, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 6.5%. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings are also forecast to grow by 8.9% per annum over the same time period. Declared Dividend • May 01
Dividend of kr0.75 announced Shareholders will receive a dividend of kr0.75. Ex-date: 26th October 2026 Payment date: 30th October 2026 Dividend yield will be 1.2%, which is lower than the industry average of 2.1%. Payout Ratios Payout ratio: 33%. Cash payout ratio: 21%. Upcoming Dividend • Apr 17
Upcoming dividend of kr0.75 per share Eligible shareholders must have bought the stock before 24 April 2026. Payment date: 30 April 2026. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (2.5%). Buy Or Sell Opportunity • Apr 12
Now 20% overvalued Over the last 90 days, the stock has fallen 3.7% to kr141. The fair value is estimated to be kr117, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 9.9%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Reported Earnings • Mar 30
Full year 2025 earnings released: EPS: kr4.59 (vs kr4.39 in FY 2024) Full year 2025 results: EPS: kr4.59 (up from kr4.39 in FY 2024). Revenue: kr37.1b (up 3.9% from FY 2024). Net income: kr2.33b (up 4.4% from FY 2024). Profit margin: 6.3% (up from 6.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Annonce • Mar 20
Beijer Ref AB (publ), Annual General Meeting, Apr 23, 2026 Beijer Ref AB (publ), Annual General Meeting, Apr 23, 2026, at 14:00 W. Europe Standard Time. Location: malmo borshus, skeppsbron 2, malmo Sweden Buy Or Sell Opportunity • Feb 28
Now 20% overvalued Over the last 90 days, the stock has fallen 6.1% to kr142. The fair value is estimated to be kr118, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 9.9%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Recent Insider Transactions • Feb 04
CEO & President recently bought kr1m worth of stock On the 2nd of February, Christopher Norbye bought around 8k shares on-market at roughly kr125 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christopher has been a buyer over the last 12 months, purchasing a net total of kr4.0m worth in shares. Reported Earnings • Feb 01
Full year 2025 earnings released: EPS: kr4.59 (vs kr4.39 in FY 2024) Full year 2025 results: EPS: kr4.59 (up from kr4.39 in FY 2024). Revenue: kr37.1b (up 3.9% from FY 2024). Net income: kr2.33b (up 4.4% from FY 2024). Profit margin: 6.3% (up from 6.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Annonce • Jan 30
Beijer Ref AB (Publ) Proposes Dividend for the Financial Year 2025 The Board of Directors of Beijer Ref AB (publ) proposed a dividend of SEK 1.50 per share (1.40) for the year 2025, corresponding to 31% (32) of net profit for the year attributable to the parent company's shareholders, excluding items affecting comparability. This corresponds to an increase in the dividend of 7%. The Board of Directors proposes that the dividend be paid in two instalments to accommodate the Group's seasonal variations. The Board of Directors' final proposal for dividend per share will be presented no later than in connection with the notice to the Annual General Meeting. Annonce • Jan 28
Beijer Ref AB Announces Kate Swann Will Not Stand for Re-Election as Chair of the Board Beijer Ref AB has announced that Kate Swann will not stand for re-election as Chair of the Board at the forthcoming Annual General Meeting. Annonce • Jan 21
Beijer Ref AB (publ) (OM:BEIJ B) acquired 75% stake in Idema Clima Srl. Beijer Ref AB (publ) (OM:BEIJ B) acquired 75% stake in Idema Clima Srl on January 20, 2026. Beijer Ref has an option to acquire the remaining shares. The company will continue to operate under its own brand. The acquisition is expected to have a minor positive impact on Beijer Ref’s results. Idema has an annual turnover of approximately SEK 200 million.
Beijer Ref AB (publ) (OM:BEIJ B) completed the acquisition 75% stake in Idema Clima Srl on January 20, 2026. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr134, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 15x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr101 per share. Reported Earnings • Oct 26
Third quarter 2025 earnings released: EPS: kr1.44 (vs kr1.30 in 3Q 2024) Third quarter 2025 results: EPS: kr1.44 (up from kr1.30 in 3Q 2024). Revenue: kr9.73b (up 2.5% from 3Q 2024). Net income: kr732.0m (up 11% from 3Q 2024). Profit margin: 7.5% (up from 6.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Annonce • Oct 21
Beijer Ref AB (publ) (OM:BEIJ B) signed an agreement to acquire 80% stake in Airwave OÜ. Beijer Ref AB (publ) (OM:BEIJ B) signed an agreement to acquire 80% stake in Airwave OÜ on October 20, 2025. Upon completion, Airwave OÜ will continue to operate under its own brand and Beijer Ref will have an option to acquire the remaining shares in Airwave OÜ. For the period ending December 31, 2024, Airwave OÜ reported total revenue of SEK 600 million.
The transaction needs to be approved by the competition authority in Estonia as conditions of closing. Robin Viia of Superia Corporate Finance acted as sole financial advisor to the founders of Airwave OÜ. Upcoming Dividend • Oct 17
Upcoming dividend of kr0.70 per share Eligible shareholders must have bought the stock before 24 October 2025. Payment date: 30 October 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (2.2%). Recent Insider Transactions • Sep 18
CEO & President recently bought kr1.0m worth of stock On the 16th of September, Christopher Norbye bought around 6k shares on-market at roughly kr155 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christopher has been a buyer over the last 12 months, purchasing a net total of kr3.0m worth in shares. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr134, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 15x in the Trade Distributors industry in the United Kingdom. Total returns to shareholders of 7.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr93.23 per share. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to kr134, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 16x in the Trade Distributors industry in the United Kingdom. Total returns to shareholders of 8.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr91.29 per share. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to kr134, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 16x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 3.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr88.34 per share. Recent Insider Transactions • Aug 08
CEO & President recently bought kr1m worth of stock On the 6th of August, Christopher Norbye bought around 6k shares on-market at roughly kr166 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christopher has been a buyer over the last 12 months, purchasing a net total of kr2.0m worth in shares. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr134, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 16x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 5.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr89.05 per share. Reported Earnings • Jul 19
Second quarter 2025 earnings released: EPS: kr1.56 (vs kr1.42 in 2Q 2024) Second quarter 2025 results: EPS: kr1.56 (up from kr1.42 in 2Q 2024). Revenue: kr10.3b (up 6.2% from 2Q 2024). Net income: kr789.0m (up 9.6% from 2Q 2024). Profit margin: 7.7% (up from 7.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr134, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 17x in the Trade Distributors industry in the United Kingdom. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at kr84.25 per share. Recent Insider Transactions • Jun 20
CEO & President recently bought kr956k worth of stock On the 16th of June, Christopher Norbye bought around 7k shares on-market at roughly kr145 per share. This transaction amounted to 60% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christopher has been a buyer over the last 12 months, purchasing a net total of kr953k worth in shares. Recent Insider Transactions • Jun 19
CEO & President recently bought kr956k worth of stock On the 16th of June, Christopher Norbye bought around 7k shares on-market at roughly kr145 per share. This transaction amounted to 60% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Christopher has been a buyer over the last 12 months, purchasing a net total of kr953k worth in shares. Declared Dividend • May 04
Dividend of kr0.70 announced Shareholders will receive a dividend of kr0.70. Ex-date: 24th October 2025 Payment date: 30th October 2025 Dividend yield will be 0.9%, which is lower than the industry average of 2.1%. Payout Ratios Payout ratio: 31%. Cash payout ratio: 28%. Annonce • Apr 24
Beijer Ref AB (Publ) Approves Dividend for the Financial Year 2024, Payable on 2 May 2025 and on 30 October 2025 Beijer Ref AB (publ) at its AGM held on April 24, 2025, approved to pay a dividend of SEK 1.40 per share for the financial year 2024. The dividend shall be paid in two instalments, the first with SEK 0.70 per share with 28 April 2025 as record date and the second with SEK 0.70 per share with 27 October 2025 as record date. The dividend is expected to be distributed by Euroclear Sweden AB on 2 May 2025 and on 30 October 2025. Upcoming Dividend • Apr 18
Upcoming dividend of kr0.70 per share Eligible shareholders must have bought the stock before 25 April 2025. Payment date: 02 May 2025. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of British dividend payers (6.2%). Lower than average of industry peers (2.8%). Buy Or Sell Opportunity • Apr 10
Now 22% overvalued Over the last 90 days, the stock has fallen 12% to kr134. The fair value is estimated to be kr110, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Reported Earnings • Apr 03
Full year 2024 earnings released: EPS: kr4.39 (vs kr4.88 in FY 2023) Full year 2024 results: EPS: kr4.39 (down from kr4.88 in FY 2023). Revenue: kr35.7b (up 11% from FY 2023). Net income: kr2.23b (down 6.2% from FY 2023). Profit margin: 6.2% (down from 7.4% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 26
Final dividend of kr0.70 announced Shareholders will receive a dividend of kr0.70. Ex-date: 25th April 2025 Payment date: 2nd May 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.1%. Payout Ratios Payout ratio: 32%. Cash payout ratio: 27%. Annonce • Mar 20
Beijer Ref AB (publ), Annual General Meeting, Apr 24, 2025 Beijer Ref AB (publ), Annual General Meeting, Apr 24, 2025, at 14:00 W. Europe Standard Time. Location: at glasklart, dockplatsen 1, in malmo, Sweden Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr134, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 14x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 5.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr120 per share. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to kr134, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 14x in the Trade Distributors industry in the United Kingdom. Total returns to shareholders of 8.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr122 per share. New Risk • Feb 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Feb 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.7% to kr171. The fair value is estimated to be kr142, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to kr134, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 15x in the Trade Distributors industry in the United Kingdom. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at kr123 per share. Reported Earnings • Feb 01
Full year 2024 earnings released: EPS: kr4.39 (vs kr4.88 in FY 2023) Full year 2024 results: EPS: kr4.39 (down from kr4.88 in FY 2023). Revenue: kr35.8b (up 11% from FY 2023). Net income: kr2.23b (down 6.2% from FY 2023). Profit margin: 6.2% (down from 7.4% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to kr134, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 15x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 5.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr90.42 per share. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to kr134, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 16x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 8.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr96.12 per share. Annonce • Jan 03
Beijer Ref AB (publ) (OM:BEIJ B) completed the acquisition of 80% stake in Cool4u Kft. Beijer Ref AB (publ) (OM:BEIJ B) signed an agreement to acquire 80% stake in Cool4u Kft on June 19, 2024. Beijer Ref has an option to acquire the remaining shares of Cool4u. Cool4U will continue to operate under its own brand, in both distribution and marketing. The parties have signed a binding agreement; however, the transaction needs to be approved by the competition authority in Hungary and an FDI (Foreign Direct Investment) screening will also be carried out as conditions of closing. The acquisition is expected to have a minor positive impact on Beijer Ref’s results. The company has an annual turnover of approximately SEK 500 million and with good profitability. Tamás Simonyi of KPMG Hungary acted as financial advisor to Cool4U Kft.
Beijer Ref AB (publ) (OM:BEIJ B) completed the acquisition of 80% stake in Cool4u Kft on January 03, 2025. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to kr134, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 16x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr100 per share. New Risk • Dec 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to kr134, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 16x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr94.25 per share. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to kr134, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 16x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr104 per share. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr134, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 17x in the Trade Distributors industry in the United Kingdom. Total loss to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr94.32 per share. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: kr1.30 (vs kr1.10 in 3Q 2023) Third quarter 2024 results: EPS: kr1.30 (up from kr1.10 in 3Q 2023). Revenue: kr9.54b (up 12% from 3Q 2023). Net income: kr657.0m (up 17% from 3Q 2023). Profit margin: 6.9% (up from 6.6% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 17
Upcoming dividend of kr0.65 per share Eligible shareholders must have bought the stock before 24 October 2024. Payment date: 30 October 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (1.9%). Annonce • Oct 16
Beijer Ref AB (Publ) Appoints Nomination Committee Beijer Ref Nomination Committee shall consist of five members. The members should be one representative of each of the five largest shareholders in terms of voting rights based on the known shareholding as per the last trading day in August, that wish to participate in the committee. This year's Nomination Committee consists of the following members: Juho Frilander (EQT), Joen Magnusson (own and related parties' holdings), Per Bertland (own and related parties' holdings), Vegard Torsnes (Norges Bank), Patricia Hedelius (AMF Tjänstepension och Fonder) Juho Frilander has been appointed Chairperson of the Nomination Committee. The Nomination Committee will prepare proposals for the Annual General Meeting in 2025 regarding Board members, Chairperson of the Board of Directors, Chairperson of the Annual Meeting, Auditors, remuneration of the Board of Directors, the Auditors, Committee work, and to the extent deemed necessary, proposal regarding amendments of the current instruction for the Nomination Committee. Buy Or Sell Opportunity • Aug 07
Now 24% overvalued The stock has been flat over the last 90 days, currently trading at kr162. The fair value is estimated to be kr131, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 22% in the next 2 years. Reported Earnings • Jul 22
Second quarter 2024 earnings released: EPS: kr1.42 (vs kr1.39 in 2Q 2023) Second quarter 2024 results: EPS: kr1.42 (up from kr1.39 in 2Q 2023). Revenue: kr9.68b (up 12% from 2Q 2023). Net income: kr720.0m (up 2.1% from 2Q 2023). Profit margin: 7.4% (down from 8.1% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 09
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to kr177. The fair value is estimated to be kr145, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 17% in the next 2 years. Buy Or Sell Opportunity • Jul 01
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.0% to kr167. The fair value is estimated to be kr139, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 16% in the next 2 years. Buy Or Sell Opportunity • Jun 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to kr164. The fair value is estimated to be kr136, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 16% in the next 2 years. Annonce • Jun 19
Beijer Ref AB (publ) (OM:BEIJ B) signed an agreement to acquire 80% stake in Cool4u Kft. Beijer Ref AB (publ) (OM:BEIJ B) signed an agreement to acquire 80% stake in Cool4u Kft on June 19, 2024. Beijer Ref has an option to acquire the remaining shares of Cool4u. Cool4U will continue to operate under its own brand, in both distribution and marketing. The parties have signed a binding agreement; however, the transaction needs to be approved by the competition authority in Hungary and an FDI (Foreign Direct Investment) screening will also be carried out as conditions of closing. The acquisition is expected to have a minor positive impact on Beijer Ref’s results. The company has an annual turnover of approximately SEK 500 million and with good profitability. Buy Or Sell Opportunity • Jun 07
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to kr170. The fair value is estimated to be kr137, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to kr134, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 18x in the Trade Distributors industry in the United Kingdom. Total returns to shareholders of 4.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr104 per share. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Director Nathalie Delbreuve was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Apr 24
Beijer Ref AB (Publ) Approves Dividend for the Financial Year 2023, Payable on 30 April 2024 and 30 October 2024 Beijer Ref AB (publ) at its AGM held on April 23, 2024, in accordance with the board of directors' proposal, the meeting resolved to pay a dividend of SEK 1.30 per share for the financial year 2023. The dividend shall be paid in two instalments, the first with SEK 0.65 per share with 25 April 2024 as record date and the second with SEK 0.65 per share with 25 October 2024 as record date. The dividend is expected to be distributed by Euroclear Sweden AB on 30 April 2024 and on 30 October 2024. Upcoming Dividend • Apr 17
Upcoming dividend of kr0.65 per share Eligible shareholders must have bought the stock before 24 April 2024. Payment date: 30 April 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of British dividend payers (6.2%). Lower than average of industry peers (2.1%). Buy Or Sell Opportunity • Apr 11
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to kr154. The fair value is estimated to be kr127, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 7.3% per annum over the same time period. Reported Earnings • Mar 31
Full year 2023 earnings released: EPS: kr4.88 (vs kr3.28 in FY 2022) Full year 2023 results: EPS: kr4.88 (up from kr3.28 in FY 2022). Revenue: kr32.2b (up 42% from FY 2022). Net income: kr2.38b (up 90% from FY 2022). Profit margin: 7.4% (up from 5.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Annonce • Mar 21
Beijer Ref AB (publ) Proposes Dividend, Payable on 30 April 2024 and 30 October 2024 Beijer Ref AB (publ) announced that at its AGM to be held on 23 April 2024, to propose dividend: From the available unappropriated earnings of SEK 15,342,626,017, dividend shall be paid in the total amount of SEK 1.30 per share. Payment shall be made in two instalments of SEK 0.65 per share for the first instalment and SEK 0.65 per share for the second instalment. It is proposed that the record date for the first instalment be 25 April 2024 and for the second instalment 25 October 2024. If the Annual General Meeting resolves to accept this proposal, the first instalment will be due to be paid from Euroclear on 30 April 2024 and the second instalment on 30 October 2024. Declared Dividend • Feb 04
Final dividend of kr0.65 announced Shareholders will receive a dividend of kr0.65. Ex-date: 24th April 2024 Payment date: 30th April 2024 Dividend yield will be 0.8%, which is lower than the industry average of 2.1%. Payout Ratios Payout ratio: 27%. Cash payout ratio: 47%. Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: kr4.88 (vs kr3.28 in FY 2022) Full year 2023 results: EPS: kr4.88 (up from kr3.28 in FY 2022). Revenue: kr32.3b (up 43% from FY 2022). Net income: kr2.38b (up 90% from FY 2022). Profit margin: 7.4% (up from 5.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Trade Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Annonce • Jan 23
Beijer Ref AB (publ) to Report Fiscal Year 2023 Results on Mar 28, 2024 Beijer Ref AB (publ) announced that they will report fiscal year 2023 results on Mar 28, 2024 Annonce • Dec 13
Beijer Ref AB (publ) to Report Q4, 2024 Results on Jan 31, 2025 Beijer Ref AB (publ) announced that they will report Q4, 2024 results at 8:30 AM, Central European Standard Time on Jan 31, 2025 Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr134, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 16x in the Trade Distributors industry in the United Kingdom. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr143 per share. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to kr134, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 13x in the Trade Distributors industry in the United Kingdom. Total returns to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr123 per share. New Risk • Nov 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (33% increase in shares outstanding). Annonce • Nov 03
Beijer Ref AB (publ) (OM:BEIJ B) signed an agreement to acquire Turner Engineering WA Pty Ltd. Beijer Ref AB (publ) (OM:BEIJ B) signed an agreement to acquire Turner Engineering WA Pty Ltd on November 2, 2023. For FY 2022, Turner had an annual turnover of approximately SEK 200 million. Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: kr1.10 (vs kr1.12 in 3Q 2022) Third quarter 2023 results: EPS: kr1.10. Revenue: kr8.49b (up 42% from 3Q 2022). Net income: kr560.0m (up 32% from 3Q 2022). Profit margin: 6.6% (down from 7.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Trade Distributors industry in the United Kingdom. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to kr134, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 13x in the Trade Distributors industry in the United Kingdom. Total returns to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr181 per share. Upcoming Dividend • Oct 16
Upcoming dividend of kr0.47 per share at 0.9% yield Eligible shareholders must have bought the stock before 23 October 2023. Payment date: 27 October 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of British dividend payers (6.5%). Lower than average of industry peers (2.3%). Buying Opportunity • Oct 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be kr142, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 33% in 2 years. Earnings is forecast to grow by 67% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr134, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 13x in the Trade Distributors industry in the United Kingdom. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr160 per share. Recent Insider Transactions • Aug 13
Independent Director recently bought kr1.3m worth of stock On the 10th of August, Joen Magnusson bought around 10k shares on-market at roughly kr133 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr1.4m. Insiders have collectively bought kr1.9m more in shares than they have sold in the last 12 months. 
