Continued good sales and earnings performance
November 15 2023 - 1:00AM
Continued good sales and earnings performance
Overall, good demand so far but with large
variations. Return to normal delivery times.
- Sales rose by 23.2% to SEK 34,993 (SEK 28,404)
million
- Profit after net financial items amounted to SEK 4,953
(3,904) million. Profit after net financial items in the previous
year was boosted by non-recurring gains of SEK 118
million: SEK -114 million in Q1 and SEK +232 million in
Q2
- Earnings per share amounted to SEK 1.89 (SEK 1.48)
- Acquisitions of Miles Industries of Canada, Climate for
Life of the Netherlands, Solzaima of Portugal and Ceramicx of
Ireland
“Overall, growth in demand has been good, but there
are large variations between markets and product segments. Our
strong position in the property refurbishment market as well as
product segments focusing on sustainable energy solutions gives us
a robust profile even in the current, weaker economic environment,
which primarily affects new production of housing and related
product segments,”said Gerteric Lindquist, Managing Director and
CEO of NIBE.
“The improvement in the components supply chain
that could be seen towards the end of the first half of the year
continued in the third quarter, enabling us to bring our own
delivery times back to normal levels.”
”The acquisitions completed in the period will also
expand our market presence and give us new product offerings and
good insights into new business models.”
”Even though it is difficult to make predictions in
the current business climate, we are cautiously optimistic about
our full-year performance in 2023 thanks to our geographic spread,
our focus on energy efficiency and sustainability, as well as our
stable profitability and good financial preparedness for further
offensive acquisitions,” said Gerteric Lindquist.
Press informationA media and analysts
webcast (in English) will take place today at 11:00 CET with CEO
Gerteric Lindquist and CFO Hans Backman. NB: Registration on
our website www.nibe.com is required in order to
participate in the conference and to obtain a code to be able to
ask questions.
For more information: Gerteric Lindquist, CEO,
and Hans Backman, CFO: +46 (0)433 27 30 00
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. This information
was submitted by the contact persons above for publication on
November 15, 2023 at 08:00 CET.
NIBE Group – an international organization with
companies and a presence worldwideThe NIBE Group is an
international Group that contributes to a reduced carbon footprint
and better utilization of energy. In our three business areas –
Climate Solutions, Element and Stoves – we develop, manufacture and
market a wide range of eco-friendly, energy-efficient
solutions for indoor climate comfort in all types of properties,
plus components and solutions for intelligent heating and control
in industry and infrastructure.
Since its beginnings in the town of Markaryd in the
Swedish province of Småland 70 years ago, NIBE has grown into an
international company with an average of 21,300 (20,400) employees
and an international presence. From the very start, the company has
been driven by a strong culture of entrepreneurship and a passion
for corporate responsibility. Its success factors are long-term
investments in sustainable product development and strategic
acquisitions. Combined, these factors have brought about strong,
targeted growth, which generated sales of just over SEK 40 (30)
billion in 2022.
NIBE has been listed under the name NIBE Industrier
AB on the Nasdaq Nordic Large Cap list since 1997, with a secondary
listing on the SIX Swiss Exchange since 2011.
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