Interim report 3 2018, Q3

Good performance continues for NIBE

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
  • – 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 - 27 30 70

Christel Fritiofsson Investor Relations Manager: +46 (0)433 - 27 30 78