Loading...

Beijer Ref

DB:BRZ
Snowflake Description

Solid track record with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BRZ
DB
SEK26B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Beijer Ref AB (publ), together with its subsidiaries, engages in the wholesale of refrigeration products for refrigeration installation contractors, and service and contracting companies. The last earnings update was 38 days ago. More info.


Add to Portfolio Compare Print
  • Beijer Ref has significant price volatility in the past 3 months.
BRZ Share Price and Events
7 Day Returns
-1.4%
DB:BRZ
-2.6%
DE Trade Distributors
-3.2%
DE Market
1 Year Returns
-
DB:BRZ
-15.6%
DE Trade Distributors
-11.6%
DE Market
BRZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Beijer Ref (BRZ) -1.4% 1% 41.7% - - -
DE Trade Distributors -2.6% -9.5% -1% -15.6% -10.3% -10.3%
DE Market -3.2% -5.1% 0.3% -11.6% 5.3% 5.9%
1 Year Return vs Industry and Market
  • No trading data on BRZ.
  • No trading data on BRZ.
Price Volatility
BRZ
Industry
5yr Volatility vs Market

BRZ Value

 Is Beijer Ref undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Beijer Ref to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Beijer Ref.

DB:BRZ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:BRZ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.874 (1 + (1- 22%) (14.2%))
0.981
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.981 * 5.96%)
6.07%

Discounted Cash Flow Calculation for DB:BRZ using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Beijer Ref is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:BRZ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 6.07%)
2019 667.50 Analyst x2 629.29
2020 1,077.50 Analyst x2 957.66
2021 1,177.50 Analyst x2 986.63
2022 1,251.46 Est @ 6.28% 988.57
2023 1,307.34 Est @ 4.47% 973.59
2024 1,349.09 Est @ 3.19% 947.17
2025 1,380.18 Est @ 2.3% 913.52
2026 1,403.38 Est @ 1.68% 875.70
2027 1,420.86 Est @ 1.25% 835.85
2028 1,434.22 Est @ 0.94% 795.41
Present value of next 10 years cash flows SEK8,903.37
DB:BRZ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SEK1,434.22 × (1 + 0.23%) ÷ (6.07% – 0.23%)
SEK24,595.82
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK24,595.82 ÷ (1 + 6.07%)10
SEK13,640.68
DB:BRZ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK8,903.37 + SEK13,640.68
SEK22,544.05
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK22,544.05 / 126.54
SEK178.16
DB:BRZ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:BRZ represents 0.09232x of OM:BEIJ B
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09232x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 178.16 x 0.09232
€16.45
Value per share (EUR) From above. €16.45
Current discount Discount to share price of €19.00
= -1 x (€19.00 - €16.45) / €16.45
-15.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Beijer Ref is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Beijer Ref's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Beijer Ref's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BRZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SEK SEK6.48
OM:BEIJ B Share Price ** OM (2019-05-24) in SEK SEK205.8
Germany Trade Distributors Industry PE Ratio Median Figure of 8 Publicly-Listed Trade Distributors Companies 14.22x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.22x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Beijer Ref.

DB:BRZ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:BEIJ B Share Price ÷ EPS (both in SEK)

= 205.8 ÷ 6.48

31.77x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Beijer Ref is overvalued based on earnings compared to the DE Trade Distributors industry average.
  • Beijer Ref is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Beijer Ref's expected growth come at a high price?
Raw Data
DB:BRZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 31.77x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
11.1%per year
Europe Trade Distributors Industry PEG Ratio Median Figure of 33 Publicly-Listed Trade Distributors Companies 1.72x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

DB:BRZ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 31.77x ÷ 11.1%

2.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Beijer Ref is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Beijer Ref's assets?
Raw Data
DB:BRZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SEK SEK31.97
OM:BEIJ B Share Price * OM (2019-05-24) in SEK SEK205.8
Germany Trade Distributors Industry PB Ratio Median Figure of 9 Publicly-Listed Trade Distributors Companies 1.35x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:BRZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:BEIJ B Share Price ÷ Book Value per Share (both in SEK)

= 205.8 ÷ 31.97

6.44x

* Primary Listing of Beijer Ref.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Beijer Ref is overvalued based on assets compared to the DE Trade Distributors industry average.
X
Value checks
We assess Beijer Ref's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Trade Distributors industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Trade Distributors industry average (and greater than 0)? (1 check)
  5. Beijer Ref has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BRZ Future Performance

 How is Beijer Ref expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Beijer Ref expected to grow at an attractive rate?
  • Beijer Ref's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Beijer Ref's earnings growth is positive but not above the Germany market average.
  • Beijer Ref's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BRZ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BRZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 11.1%
DB:BRZ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 6.7%
Germany Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 7.8%
Europe Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:BRZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BRZ Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 16,810 1,408 1,108 2
2020-12-31 15,850 1,304 1,013 2
2019-12-31 14,893 826 894 2
DB:BRZ Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-03-31 13,844 885 820
2018-12-31 13,015 690 769
2018-09-30 12,123 380 752
2018-06-30 11,071 493 660
2018-03-31 10,217 360 559
2017-12-31 9,830 502 511
2017-09-30 9,629 402 464
2017-06-30 9,535 236 432
2017-03-31 9,296 256 401
2016-12-31 9,045 65 389
2016-09-30 8,872 243 374
2016-06-30 8,746 341 379

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Beijer Ref's earnings are expected to grow by 11.1% yearly, however this is not considered high growth (20% yearly).
  • Beijer Ref's revenue is expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:BRZ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Beijer Ref Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BRZ Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 8.72 8.82 8.62 2.00
2020-12-31 7.98 8.05 7.90 2.00
2019-12-31 7.04 7.12 6.95 2.00
DB:BRZ Past Financials Data
Date (Data in SEK Millions) EPS *
2019-03-31 6.48
2018-12-31 6.07
2018-09-30 5.92
2018-06-30 5.20
2018-03-31 4.40
2017-12-31 4.02
2017-09-30 3.65
2017-06-30 3.40
2017-03-31 3.15
2016-12-31 3.06
2016-09-30 2.94
2016-06-30 2.98

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Beijer Ref is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Beijer Ref's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Beijer Ref has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BRZ Past Performance

  How has Beijer Ref performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Beijer Ref's growth in the last year to its industry (Trade Distributors).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Beijer Ref has delivered over 20% year on year earnings growth in the past 5 years.
  • Beijer Ref's 1-year earnings growth exceeds its 5-year average (46.7% vs 22%)
  • Beijer Ref's earnings growth has not exceeded the DE Trade Distributors industry average in the past year (46.7% vs 51%).
Earnings and Revenue History
Beijer Ref's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Beijer Ref Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BRZ Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 13,843.80 820.34 2,957.95
2018-12-31 13,014.80 769.34 2,957.95
2018-09-30 12,122.83 752.27 2,183.33
2018-06-30 11,070.83 660.27 2,183.33
2018-03-31 10,216.83 559.27 2,183.33
2017-12-31 9,829.83 511.27 2,183.33
2017-09-30 9,628.76 463.84 2,085.80
2017-06-30 9,534.76 431.84 2,085.80
2017-03-31 9,295.76 400.84 2,085.80
2016-12-31 9,044.76 388.84 2,085.80
2016-09-30 8,871.58 374.28 1,916.63
2016-06-30 8,745.58 379.28 1,916.63
2016-03-31 8,481.58 364.28 1,916.63
2015-12-31 8,360.58 366.28 1,916.63
2015-09-30 8,123.66 364.85 1,664.41
2015-06-30 7,736.16 350.65 1,664.41
2015-03-31 7,453.96 331.75 1,664.41
2014-12-31 7,188.96 316.45 1,664.41
2014-09-30 6,988.55 294.18 1,563.79
2014-06-30 6,871.45 285.88 1,563.79
2014-03-31 6,712.55 247.88 1,563.79
2013-12-31 6,595.35 233.78 1,563.79
2013-09-30 6,549.42 222.09 1,582.58
2013-06-30 6,452.92 205.99 1,582.58
2013-03-31 6,567.32 247.69 1,582.58
2012-12-31 6,758.32 295.19 1,582.58
2012-09-30 6,845.14 349.50 1,291.25
2012-06-30 6,586.04 357.40 1,291.25

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Beijer Ref has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Beijer Ref used its assets more efficiently than the DE Trade Distributors industry average last year based on Return on Assets.
  • Beijer Ref has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Beijer Ref's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Trade Distributors industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Beijer Ref has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BRZ Health

 How is Beijer Ref's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Beijer Ref's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Beijer Ref is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Beijer Ref's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Beijer Ref's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Beijer Ref Company Filings, last reported 1 month ago.

DB:BRZ Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,046.00 3,698.00 774.00
2018-12-31 3,785.12 3,317.78 909.43
2018-09-30 3,713.00 3,283.00 800.00
2018-06-30 3,712.00 3,072.00 604.00
2018-03-31 3,587.00 2,101.00 452.00
2017-12-31 3,293.68 2,090.50 559.39
2017-09-30 3,026.00 1,869.00 476.00
2017-06-30 2,959.00 1,933.00 289.00
2017-03-31 3,052.00 1,805.00 510.00
2016-12-31 2,967.26 2,032.59 342.08
2016-09-30 2,866.00 1,831.00 350.00
2016-06-30 2,652.00 1,816.00 328.00
2016-03-31 2,712.00 1,537.00 366.00
2015-12-31 2,634.19 1,723.23 347.68
2015-09-30 2,677.40 1,519.70 283.70
2015-06-30 2,588.90 1,500.10 252.20
2015-03-31 2,733.60 1,422.90 249.50
2014-12-31 2,618.64 1,582.72 236.09
2014-09-30 2,457.50 1,475.70 344.00
2014-06-30 2,431.70 1,011.50 168.60
2014-03-31 2,467.20 988.20 166.40
2013-12-31 2,416.97 1,313.98 181.35
2013-09-30 2,305.10 1,044.60 194.30
2013-06-30 2,247.50 1,122.50 192.20
2013-03-31 2,329.50 949.50 195.40
2012-12-31 2,399.72 1,341.22 188.73
2012-09-30 2,368.80 941.00 225.50
2012-06-30 2,402.70 964.60 208.30
  • Beijer Ref's level of debt (91.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (40.1% vs 91.4% today).
  • Debt is well covered by operating cash flow (23.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 23.7x coverage).
X
Financial health checks
We assess Beijer Ref's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Beijer Ref has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BRZ Dividends

 What is Beijer Ref's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.46%
Current annual income from Beijer Ref dividends. Estimated to be 1.91% next year.
If you bought €2,000 of Beijer Ref shares you are expected to receive €29 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Beijer Ref's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • Beijer Ref's dividend is below the markets top 25% of dividend payers in Germany (3.93%).
Upcoming dividend payment

Purchase Beijer Ref before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:BRZ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Germany Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:BRZ Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 4.33 2.00
2020-12-31 3.95 2.00
2019-12-31 3.53 2.00
DB:BRZ Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-04-10 3.000 1.539
2018-04-05 1.917 1.242
2017-04-06 1.833 2.045
2016-03-10 1.750 2.494
2016-02-10 1.750 2.909
2015-03-17 1.667 2.811
2015-02-10 1.667 3.607
2014-04-25 1.583 3.479
2013-03-25 1.583 3.920
2012-03-26 1.500 4.030
2011-05-05 1.333 3.394
2010-04-28 1.083 2.838

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Beijer Ref has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Beijer Ref only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Beijer Ref's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Beijer Ref's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Beijer Ref afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Beijer Ref has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BRZ Management

 What is the CEO of Beijer Ref's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Per Bertland
COMPENSATION SEK0
AGE 61
TENURE AS CEO 5.8 years
CEO Bio

Mr. Per Bertland has been the Chief Executive Officer, President and Managing Director of Beijer Ref AB (publ) (formerly, G&L Beijer AB) since July 1, 2013. He also serves as Partner at Small Cap Partners. Mr. Bertland served as Head of the Beijer Ref business area at Beijer Ref AB (publ). He served as Chief Financial Officer of Indra AB and Ötab Sport AB within the Aritmos Group, employed in Set Audit Bureau. He served as Chief Financial Officer at Beijer Ref AB (publ) since 1993 and Chief Operating Officer since 2000 until 2013. He is Chairman of the Board in several subsidiaries of Beijer Ref. Mr. Bertland has been an Independent Director at Lindab International AB and Lindab AB since May 3, 2016. Mr. Bertland holds a M.Sc. in Business and Economics degree from Lund University. He holds MBA from University of Lund.

CEO Compensation
  • Insufficient data for Per to compare compensation growth.
  • Per's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Beijer Ref management team in years:

3.3
Average Tenure
48.5
Average Age
  • The tenure for the Beijer Ref management team is about average.
Management Team

Per Bertland

TITLE
CEO, President & MD
AGE
61
TENURE
5.8 yrs

Maria Rydén

TITLE
CFO & Executive VP
AGE
52
TENURE
1.6 yrs

Katarina Olsson

TITLE
General Counsel & Executive VP
AGE
47
TENURE
3.3 yrs

Yann Talhouet

TITLE
COO & Executive VP of Toshiba HVAC
AGE
44

Simon Karlin

TITLE
COO & Executive VP of ARW - EMEA
AGE
50

Jonas Steen

TITLE
COO & Executive VP of ARW APAC
AGE
42

Olivier Gandy

TITLE
Chief Financial Officer of Toshiba HVAC
Board of Directors Tenure

Average tenure and age of the Beijer Ref board of directors in years:

7.3
Average Tenure
64
Average Age
  • The tenure for the Beijer Ref board of directors is about average.
Board of Directors

Bernt Ingman

TITLE
Chairman
AGE
64

Joen Magnusson

TITLE
Director
COMPENSATION
SEK8M
AGE
67
TENURE
34.3 yrs

Peter Jürgensen

TITLE
Director
AGE
69
TENURE
20.3 yrs

William Striebe

TITLE
Director
AGE
68
TENURE
10.3 yrs

Monica Gimre

TITLE
Director
AGE
58
TENURE
4.3 yrs

Frida Sams

TITLE
Director
AGE
47
TENURE
4.3 yrs

Chris Nelson

TITLE
Director
AGE
48
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • Beijer Ref insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Apr 19 Sell Simon Karlin Individual 24. Apr 19 24. Apr 19 -55,000 €18.84 €-1,035,962
27. Oct 18 Buy Maria Rydén Individual 26. Oct 18 26. Oct 18 100 €12.37 €1,237
06. Sep 18 Buy Frida Sams Individual 06. Sep 18 06. Sep 18 438 €16.62 €7,279
X
Management checks
We assess Beijer Ref's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Beijer Ref has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BRZ News

Simply Wall St News

BRZ Company Info

Description

Beijer Ref AB (publ), together with its subsidiaries, engages in the wholesale of refrigeration products for refrigeration installation contractors, and service and contracting companies. It markets and sells refrigeration systems, components for refrigeration systems, and air-conditioning and heat pumps. The company also manufactures and sells its refrigeration units on an original equipment manufacturing basis. It operates in the Nordic region, Central Europe, Southern Europe, Eastern Europe, Africa, the Asia Pacific, and internationally. The company was formerly known as G & L Beijer AB (publ) and changed its name to Beijer Ref AB (publ) in May 2014. Beijer Ref AB (publ) was founded in 1866 and is headquartered in Malmö, Sweden.

Details
Name: Beijer Ref AB (publ)
BRZ
Exchange: DB
Founded: 1866
SEK2,432,936,428
126,536,710
Website: http://www.beijerref.com
Address: Beijer Ref AB (publ)
Stortorget 8,
Malmö,
Skåne County, 211 34,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM BEIJ B Class B Shares OMX Nordic Exchange Stockholm SE SEK 20. Aug 1992
DB BRZ Class B Shares Deutsche Boerse AG DE EUR 20. Aug 1992
LSE 0A0H Class B Shares London Stock Exchange GB SEK 20. Aug 1992
BATS-CHIXE BEIJBs Class B Shares BATS 'Chi-X Europe' GB SEK 20. Aug 1992
Number of employees
Current staff
Staff numbers
3,753
Beijer Ref employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 22:46
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/06
Last earnings filing: 2019/04/16
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.