Organic growth in a weak European economy
- Net revenue increased to MSEK 1,823 (1,694)
- Adjusted operating profit (EBIT) amounted to MSEK 220 (177), corresponding to an operating margin of 12.1 percent (10.4)
- Items affecting comparability amounted to MSEK 15 and pertained to restructuring costs in Germany
- Profit after net financial items totaled MSEK 164 (177)
- Order bookings totaled MSEK 1,874 (1,710)
- Cash flow from operating activities amounted to MSEK 212 (238)
- Earnings per share for the full year amounted to SEK 11.85 (8.61)
- The Board proposes a dividend of SEK 3.95 (3.85) per share
The industrial economy remained weak in the final quarter of the year. Nevertheless, the Group grew organically. Demand was stable overall, but varied across the Group's diversified customer base. The Group's operations in Asia have recovered and delivered good growth. The key Nordic market weathered the weak economic climate well, as did the UK and US markets, while Central Europe remained weak. Despite a challenging operating environment, in 2024 Beijer Alma reached its highest operating result ever.
Lesjöfors noted mixed demand across different geographic regions and order bookings grew organically. The Chassis Springs business area, which has its low season late in the year, ended the quarter on a strong note and was nearly on par with its strong comparative figures. In Industry, Asia and the Nordic region contributed profitable growth. In the US, demand in the broad industrial segments was favorable, while lower volumes were noted in the medical technology segment. In Germany, demand from Lesjöfors's customers remained weak, which also impacted Lesjöfors companies in the rest of Central Europe, and further savings were implemented in the units concerned. The quarter was particularly challenging for Alcomex, which operates in the industrial segment in Central Europe and also produces door springs, exposing the company to a continued weak construction industry.
Lesjöfors's acquisition of the French company Lacroix was completed on October 1. The company performed well in its first quarter, and several collaborations have been started between the company and its sister companies. This is in line with the strategy to grow in France, a market with considerable sales potential for Lesjöfors's broad product portfolio.
For Beijer Tech, demand was stable on the whole and order bookings displayed good organic growth. Considerable differences were noted between the business areas and countries. The Fluid Technology business area grew as a result of the acquisitions of AVS and Brissmans Brandredskap. In Industrial Products, demand was weakest in Finland, followed by Sweden and Denmark. The Norwegian market stood out, with favorable growth both organically and through the acquisition of Clemco. The Niche Technologies business area grew organically because of good order bookings in non-cyclical markets.
During the quarter, Beijer Tech acquired Brissmans Brandredskap, a Swedish supplier and retailer of personal protective equipment and firefighting equipment in Sweden. Together with Svebab, the company forms a strong platform and product portfolio in firefighting equipment.
As announced, these are my last CEO's comments after seven eventful years at Beijer Alma. Despite the pandemic, war and recession, the group stands stronger than ever. For the fourth year in a row, we have reported the highest operating profit to date. This is thanks to impressive efforts from employees and managers around our decentralized group. With 27 new acquisitions - and three divestments - during this time, the group is even more resilient and ready for a continued exciting journey.
If you have any questions, please contact:
Henrik Perbeck, President and CEO, Telephone +46 18 15 71 60, henrik.perbeck@beijeralma.se
Johan Dufvenmark, CFO, Telephone +46 18 15 71 60, johan.dufvenmark@beijeralma.se
About Beijer Alma AB
Beijer Alma AB is an international industrial group focused on component production and industrial trading. The Group includes; Lesjöfors, one of Europe's largest spring manufactures and Beijer Tech, which holds strong positions in Nordic industrial trading and manufacturing in niche markets.
Beijer Alma is listed on the Nasdaq Stockholm Mid Cap list.
This information is information that Beijer Alma is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-06 07:30 CET.
