Interim report, Q2 2004
Strong first half for NIBE Industrier
NIBE Industrier’s interim report shows a strong performance for the first six months of the year.
- Sales increased by 31%, of which 13% was organic growth, to SEK 1,398 million (compared to sales of SEK 1,064 million for the corresponding period in 2003)
- Profit after net financial items rose by 56% to SEK 101.9 million (SEK 65.2 million)
- Earnings per share during the six-month period January–June were SEK 3.02 (SEK 1.82)
“We have had a strong first half to the year,” says Gerteric Lindquist, CEO for NIBE Industrier. “Both sales and earnings have continued to develop well. We had a very good first quarter and this trend has continued, with even better results during the second three months.
“There are various factors behind our current successes,” he continues, “not least the very strong demand for NIBE’s heat pumps and solid-fuel stoves.
“Last year’s acquisition of the Danish METRO-THERM Group has also reinforced our presence on the market and strengthened our product range.
“Another positive factor is the continued improvement in earnings for the NIBE Element Division, which has now definitely proven that it has reversed last year’s negative trend.
“The first six months of the year have also seen us make substantial reinforcements to our production resources, so that, as far as deliveries are concerned, we are well equipped to meet anticipated demand as we move towards what is our peak season for sales.
“All in all, therefore, we remain confident that NIBE will continue to perform well throughout the remainder of 2004,” concludes Gerteric Lindquist.
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