NIBE reports continued good sales and earnings performance in today’s nine-month report.
- Sales rose by 17.3% to SEK 16,018 million (SEK 13,653 million)
- Profit after net financial items rose by 20.2% to SEK 1,790 million (SEK 1,489 million)
- Earnings per share amounted to SEK 2.74 (SEK 2.25)
- Acquisition of 60% of US element company BriskHeat Corp, 51% of British company CK Fires Ltd, Alfa Laval’s business for district heating/cooling systems (Cetetherm), 51% of shares in Turkish element company EMIN Group and remaining 55% of shares in Italian ventilation company Rhoss S.p.A
“During the first nine months of the year, we continued to experience good growth with an increase in sales of just over 17%. Organic growth has dominated, which contributed to the positive earnings trend,” says Gerteric Lindquist, CEO of NIBE.
“General demand still appears relatively good in Europe, North America and Asia, which naturally had a positive effect. However, international uncertainty is more pronounced with both political tensions and downright barriers to trade.”
“With our company philosophy and our strong product range, we are well positioned in a market that is increasingly feeling the influences of the transition of our society to more sustainable approaches in areas like energy supply, transport and climate control in buildings."
“Even though it’s difficult to make predictions in our current business climate, we remain cautiously optimistic about 2018 thanks to our stable profitability and good financial preparedness for further offensive acquisitions,” says Lindquist.
Press information
A teleconference (in English) will be held for press and analysts today (+46 8 566 42 700) at 11:00 CET with CEO Gerteric Lindquist and CFO Hans Backman.
NOTE: You must be registered at www.nibe.com to view the images for the presentation.
NIBE Industrier AB (publ) is required to disclose the information in this press release under the EU’s Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted through the agency of Benny Torstensson for publication on 16 November 2018 at 08:00 CET.
Benny Torstensson CIO: +46 (0)433 - 73 070
Christel Fritiofsson Investor Relations Manager: +46 (0)433 - 73 078
About About NIBE Industrier
NIBE – a global group with operations and sales on five continents.
NIBE is a global group that helps make the world more sustainable through its solutions for indoor climate and comfort and its components and solutions for measurement, control and electrical heating. NIBE has more than 60 years of experience manufacturing products intended for both household and commercial use. Growing from its roots in southern Sweden, NIBE now has operations and sales on five continents.
NIBE has developed a culture of entrepreneurship and a passion for doing business. Investments in sustainable product development and acquisitions have helped the NIBE Group expand significantly – sales exceeded SEK 19 billion in 2017. Operations are conducted in three business areas – NIBE Climate Solutions, NIBE Element and NIBE Stoves – with more than 15,000 employees in Europe, North America, Asia and Australia.
NIBE has been listed under the name NIBE Industrier on the NASDAQ Stockholm, Large Cap list, since 1997, with a secondary listing on the SIX Swiss Exchange since 2011.
Attachment
