11/15/2011 7:00 AM
NIBE continues to go from strength to strength in 2011, reporting increases in sales and improvements in earnings.
After several internationally strategic acquisitions in Switzerland, Germany, USA, Mexico, China and elsewhere, NIBE is developing into an increasingly globalised industrial group.
“We continue to report a strong performance for 2011 with increases in both sales and earnings. The single most important contributory factor towards this is the fact that we are continuing along the path we have laid out for ourselves with a combination of organic and acquired growth,” says Gerteric Lindquist, CEO of the NIBE Group.
Recent acquisitions mean that NIBE has now, from a very strong base in Northern Europe, definitively established itself as a global industrial group with more than 8,000 employees worldwide.
“Despite the pace of our growth, fuelled in part by acquisitions, we have not lost sight of the need to constantly maintain a firm focus on profitability. This is also a key criterion in the integration of newly acquired companies into the NIBE Group.
“After the turbulence that has rocked the financial markets over the past few months, it is difficult to make any accurate forecasts about the future. Nevertheless, we remain positive about the prospects for 2011 as a whole,” concludes Gerteric Lindquist.
At 11:00 (C.E.T.) today, Gerteric Lindquist, CEO of the NIBE Group, will hold a telephone conference (in English) for members of the press and financial analysts. Please phone +46(0)8 505 598 12.
Mr Benny Torstensson Information Manager: tel. +46 (0)433-73 070
Mrs Christel Fritiofsson IR Manager: tel. +46 (0)433-73 078
In our 9-month report on page 3, under Earnings, an interpretation error was detected and consequently changed.
The previous reading, ”Third quarter profits”, has now been changed into ”The profits during the period”