Another strong year – the 20 billion intermediate target is very close
NIBE reports another successful year and shows a significant increase in both sales and profit in the company’s 2017 year-end report
- Sales rose by 23.9% to SEK 19,009 million (SEK 15,348 million)
- Profit after net financial items rose by 16.6% to SEK 2,182 million (SEK 1,871 million)
- Earnings per share amounted to SEK 3.38 (SEK 2.93)
- Dividend of SEK 1.05/share (SEK 0.88/share) proposed
- Partial acquisition of Enertech Group in Great Britain, CGC Group and Tempeff in Canada, HT and Rhoss in Italy, and Gaumer and BriskHeat in the United States.
“For NIBE, 2017 was a strong year and the intermediate target of achieving sales of 20 billion by 2020 now feels very close. As soon as we pass the 20 billion sales target, the next milestone will be 40 billion,” says Gerteric Lindquist, CEO of NIBE.
“The year was characterized by good demand, resulting in high production rates, continued high acquisition intensity, especially in North America, and several good signs that our product range based on intelligent, sustainable, fossil-free climate control solutions is highly appreciated.”
“All business areas are growing and taking a bigger share of their markets, thus strengthening their international presence.”
“We have a timely product programme and business philosophy. Our profitability is stable, we are well-prepared for further acquisitions and are geographically widespread, which creates stability. As always, there are many uncertainties in the outside world, but we are still cautiously positive on 2018,” says Lindquist.
NIBE Industrier AB is required to disclose the information in this press release under the Market Abuse Regulation and Nasdaq Stockholm’s rules and regulations for issuers. The information was submitted through Benny Torstensson for publication on 16 February 2018 at 08:00 CET.
A teleconference (in English) will be held for press and analysts at 11.00 (CET) today with CEO Gerteric Lindquist and CFO Hans Backman. To attend the conference, ring +46 8 566 425 65.
N.B.: You must be registered at www.nibe.com to view the images for the presentation.
Benny Torstensson, CIO: +46 433 73 070
Christel Fritiofsson, Investor Relations Manager: +46 433 73 078
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. From its roots in southern Sweden, NIBE has grown to having 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 totalled 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 Nasdaq Stockholm, Large Cap list, since 1997, with a secondary listing on the SIX Swiss Exchange since 2011.