Beijer Ref AB reported a record-high operating margin for the second quarter, overcoming what it described as strong headwinds from currency effects.
The Swedish refrigeration and climate control wholesaler said its earnings before interest, taxes, and amortization, or EBITA, margin reached 12.2%, the first time in its history the figure has surpassed 12% in a single quarter.
The result improves on the 11.9% EBITA margin reported in the same period a year earlier and continues a trend of rising profitability from 10.4% in the second quarter of 2022.
Excluding currency impacts, sales for the quarter increased by 12% and EBITA grew by 15%, according to the company's half-year report.
"After a good start to 2025, we are reporting a second quarter with the highest EBITA margin ever, a good seasonal operating cash flow and continued stable growth, despite strong headwinds from currency effects," Chief Executive Officer Christopher Norbye said.
The company stated that overall sales, profit, and the EBITA margin were its highest ever recorded in a quarter.
Beijer Ref, which operates in 45 countries, did not disclose specific revenue or profit figures in its press release.
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