2/15/2005 1:47 PM
In the summary published today of NIBE Group’s annual report for 2004 the company surpassed by a wide margin all its previous records for both sales and earnings.
“Our continued success owes much to the fact that the market has remained favourable, especially for NIBE’s heat pumps and wood-burning stoves,” says Gerteric Lindquist, CEO for NIBE Industrier.
“The market is with us, but we have also worked aggressively with marketing and sustained our unflagging efforts to improve productivity. In addition, our growth continues as planned, with approximately half being organic and half acquired,” he continues.
Pre-tax profits for the fourth quarter were SEK 124.8 million, a 25% increase on the corresponding figure for 2003 (SEK 99.6 million).
“We look forward to the future with confidence. In our opinion the prospects remain favourable, both for 2005 and for us to achieve our long-term objective of sales of SEK 5 billion by 2007,” Gerteric Lindquist concludes.
The company’s Annual General Meeting will be held in Markaryd, Sweden on 11 May 2005.
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