NIBE reports continued good sales and earnings performance for the first half of 2018.
- Sales rose by 13.6% to SEK 10,233 million (SEK 9,009 million)
- Profit after net financial items rose by 18.2% to SEK 1,031 million (SEK 877 million)
- Earnings per share amounted to SEK 1.54 (SEK 1.29)
- Acquisition of 60% of US element company BriskHeat Corp, 51% of British company CK Fires Ltd and Alfa Laval's business for district heating/cooling systems
"We've had a positive first half-year with continued good growth in both sales and earnings. General demand is relatively good in Europe as well as in North America and Asia, mainly due to low interest rates," says Gerteric Lindquist, CEO of NIBE.
"We see that the transition to a more sustainable way of life is on the rise in ever increasing societal sectors. This development fits our business areas perfectly: NIBE Climate Solutions' intelligent sustainable climate solutions for all property types, NIBE Elements' intelligent system solutions with sustainability profiles and NIBE Stoves' products with high combustion efficiency and low emissions."
"Our strong product programme and our business philosophy are timely with their focus 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.
Press information
A teleconference (in English) will be held for press and analysts today (+46 8 566 426 94) 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 17 August 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
- DelarNIBE2018augENGkomplettA (https://prlibrary-eu.nasdaq.com/Resource/Download/d642996e-6c25-4434-a048-2b5bd8ee3187)
