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Year-end report, 2022 (Q4)
Strong 2022 performance – target of SEK 40 billion exceeded -
Interim report 3, 2022 (Q3)
Continued strong performance
IR Contacts
The NIBE share – Facts and figures
The NIBE share
Analysts
Karl Bokvist | ABG Sundal Collier |
Philip Buller | Berenberg |
Gustav Österberg | Carnegie |
Viktor Trollsten | Danske Bank Equity Research |
Douglas Lindahl | DNB Bank Markets |
Anna Lindholm Widström | Handelsbanken Capital Markets |
Johan Sjöberg | Kepler Cheuvreux |
Pam Liu | Morgan Stanley |
Carl Ragnestam | Nordea Markets |
Anders Roslund | Pareto |
Fredrik Agardh | SEB Equity Research |
Major shareholders
No. of A-shares | No. of B-shares | Share votes, % | |
|---|---|---|---|
Current and former boardmembers and senior executives | 164 373 736 | 244 963 777 | 45.91 |
Schörling/MEXAB Industri AB | 68 756 624 | 63 313 990 | 18.68 |
State Street Bank and Trust Co | 160 363 449 | 3.90 | |
Alecta Pensionsförsäkring | 115 672 000 | 2.81 | |
JP Morgan Chase Bank N A | 109 224 046 | 2.65 | |
BNY Mellon NA | 42 691 322 | 1.04 | |
Northern Trust Company | 35 372 407 | 0.86 | |
CBNY Norges Bank | 29 398 293 | 0.71 | |
Clearstream Banking S A | 28 114 421 | 0.68 | |
AMF Tjänstepension AB | 27 500 000 | 0.67 | |
SIX SIS AG | 26 362 253 | 0.64 | |
Brown Brothers Harriman & CoA | 22 753 994 | 0.55 | |
Första AP-fonden | 22 037 468 | 0.54 | |
Other holdings (125 981) | 837 900 608 | 20.37 | |
Total | 233 130 360 | 1 782 936 128 | 100.00 |
Source: Euroclear Sweden share register December, 31 2022
Shareholder structure
Prop. of shares | Number of owners | Number of owners (%) | Number A | Number B | Number of shares (%) |
|---|---|---|---|---|---|
1-500 | 93,764 | 74.43 | 10 928 590 | 0.27 | |
501-1,000 | 10,827 | 8.59 | 8 229 042 | 0.20 | |
1,001-2,000 | 7,364 | 5.85 | 11 136 139 | 0.27 | |
2,001-5,000 | 6,333 | 5.03 | 20 980 101 | 0.51 | |
5,001-10,000 | 2,985 | 2.37 | 21 814 083 | 0.53 | |
10,001-20,000 | 1,937 | 1.54 | 28 610 888 | 0.70 | |
20,001-50,000 | 1,439 | 1.14 | 44 478 997 | 1.08 | |
50,001-100,000 | 641 | 0.51 | 43 915 981 | 1.07 | |
100,001-500,000 | 437 | 0.35 | 88 241 487 | 2.14 | |
500,001-1,000,000 | 70 | 0.06 | 50 462 819 | 1.23 | |
1,000,001-5,000,000 | 115 | 0.09 | 5 197 976 | 233 515 104 | 6.94 |
5,000,001-10,000,000 | 33 | 0.03 | 30 929 760 | 200 448 793 | 12.39 |
10,000,001- | 36 | 0.03 | 197 002 624 | 1 020 174 104 | 72.68 |
Total | 125,981 | 100 | 233 130 360 | 1 782 936 128 | 100.00 |
Source: Euroclear Sweden share register December, 31 2022
Key figures
2021 | 2020 | 2019 | 2018 | 2017 | ||
|---|---|---|---|---|---|---|
| Net sales | SEK million | 30,832 | 27,146 | 25,342 | 22,516 | 19,009 |
| Growth | % | +13.6 | +7.1 | +12.5 | +18.5 | +23.9 |
| Operating profit | SEK million | 4,438 | 3,880 | 3,038 | 2,829 | 2,344 |
| Profit after net financial items | SEK million | 4,318 | 3,658 | 2,836 | 2,667 | 2,182 |
| EBITDA margin | % | 18.6 | 18.8 | 16.1 | 15.6 | 15.7 |
| Operating margin | % | 14.4 | 14.3 | 12.0 | 12.6 | 12.3 |
| Profit margin | % | 13,9 | 13.5 | 11.2 | 11.8 | 11.5 |
| Net investments in non-current assets | SEK million | 1,790 | 3,692 | 2,059 | 2,479 | 2,026 |
| Operating cash flow | SEK million | 2,020 | 3,914 | 1,904 | 1,111 | 1,587 |
| Available cash and equivalents | SEK million | 5,208 | 5,240 | 4,703 | 3,562 | 3,803 |
| Working capital, excluding cash and bank balances, in relation to net sales | % | 17.4 | 12.9 | 18.1 | 19.6 | 16.3 |
| Equity | SEK million | 21,657 | 17,737 | 17,604 | 15,421 | 12,807 |
| Return on equity | % | 17.3 | 16.1 | 13.5 | 14.8 | 13.7 |
| Equity/assets ratio | % | 49.9 | 46.3 | 47.0 | 47.7 | 45.8 |
| Proportion of risk-bearing capital | % | 53.1 | 49.7 | 50.6 | 51.1 | 49.2 |
| Capital employed | SEK million | 31,977 | 28,396 | 28,258 | 24,660 | 21,783 |
| Return on total employed | % | 15.2 | 14.6 | 12.3 | 13.0 | 11.5 |
| Return on total capital | % | 11.2 | 10.9 | 9.4 | 10.0 | 9.0 |
| Capital turnover ratio | times | 0.75 | 0.72 | 0.73 | 9.0 | 0.70 |
| Interest-bearing liabilities/Equity | % | 47.7 | 60.1 | 60.8 | 60.0 | 70.1 |
| Net debt/EBITDA | times | 1.0 | 1.1 | 1.6 | 1.7 | 1.9 |
| Interest coverage ratio | times | 16.6 | 7.9 | 7.6 | 8.8 | 9.6 |
| Average number of employees | no. | 20,433 | 18,740 | 16,994 | 16,569 | 14,271 |
Definitions – key figures
Growth
Percentage change in net sales compared with previous year.
EBITDA margin
Operating profit before depreciation as a percentage of net sales.
Operating margin
Operating profit as a percentage of net sales.
Profit margin
Profit after net financial items as a percentage of net sales.
Operating cash flow
Cash flow after investments but before acquisition of companies/operations.
Equity
Taxed equity plus untaxed reserves less tax.
Return on equity
Profit after net financial items less tax at 22.0% standard rate as a percentage of average equity.
Equity/assets ratio
Equity as a percentage of total assets.
Proportion of risk-bearing capital
Equity, including non-controlling interest and deferred tax liability, as a percentage of total assets.
Capital employed
Total assets less non-interest-bearing liabilities and deferred tax.
Return on capital employed
Profit after net financial items plus financial expenses as a percentage of average capital employed.
Return on total capital
Profit after net financial items plus financial expenses as a percentage of average total assets.
Capital turnover ratio
Net sales divided by average total assets.
Interest-bearing liabilities/ Equity
Interest-bearing liabilities as a percentage of equity.
Net debt/EBITDA
Interest-bearing net debt (financial liabilities less financial assets) divided by profit before depreciation/amortisation.
Interest coverage ratio
Profit after net financial items plus financial expenses divided by financial expenses.