A promising start to the year
NIBE presents a promising start for both sales and profit in today’s interim report for the first quarter of 2018.
- Sales rose by 11.3% to SEK 4,862 million (SEK 4,370 million)
- Operating profit rose by 16.7% to SEK 497 million (SEK 426 million)
- Profit after net financial items increased by 11.9% to SEK 443 million (SEK 396 million)
- Earnings per share amounted to SEK 0.67 (SEK 0.58)
- Acquisition of 60% of US element company BriskHeat Corp and Alfa Laval’s business for district heating and cooling systems
"Both sales and profit have shown good growth at the start of 2018 and the general demand looks positive in Europe, North America and Asia alike,” says Gerteric Lindquist, CEO of NIBE.
“In addition to low interest rates and relatively good construction activity, it is quite apparent that the transition to a more sustainable approach to energy supply, transport and climate control of both small and large properties is creating new markets with solid demand.”
“As we have regularly reported, our operations are dominated by integration of the most recently acquired entities in a careful yet definite manner, plus a constant striving to improve our internal efficiency.”
“The NIBE Climate Solutions business area continues to enhance its position as a comprehensive supplier of intelligent, sustainable climate control solutions for single-family homes as well as commercial properties.”
“The NIBE Element business area successfully continues to offer the market a comprehensive range of intelligent system solutions.”
“The NIBE Stoves business area is growing steadily with many successful product launches and product development efforts that have an increasingly in-demand sustainability profile."
“We have a strong product programme and a timely business philosophy that focuses on sustainability and energy efficiency. Even though it’s difficult to make predictions in the current business climate, we remain cautiously optimistic about 2018 thanks to stable profitability and good financial preparedness for acquisitions,” says Gerteric Lindquist.
A teleconference (in English) will be held for press and analysts today (+46 8 566 426 97) 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 Benny Torstensson for publication on 16 May 2018 at 08:00 CET.
Benny Torstensson CIO: +46 (0)433-73 070
Christel Fritiofsson Investor Relations Manager: +46 (0)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. NIBE has grown from its beginnings in southern Sweden 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 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.