8/15/2012 7:00 AM
In the company’s second-quarter report published today, NIBE reports a steep increase in sales and profits after a strong first half to 2012.
“We can look back on a strong first-half performance with a steep increase in sales and positive trends in earnings. To a great degree this is a result of our recent acquisitions of the Schulthess Group in Switzerland and Emerson Heating Products of the USA,” says Gerteric Lindquist, CEO of the NIBE Group.
“At the same time, it also demonstrates our ability to capture new shares of the market with energy-efficient products that are well suited to the times in which we are living, confirms the good progress we have made in terms of productivity and testifies to our firm grip on fixed costs.
“The unsettled global economy has, however, resulted in a very varied picture as regards demand on our various markets and for our different products. Demand has been good in Germany, North America and Eastern Europe, but it has weakened in Southern Europe as well as in Sweden.
“Although the financial markets remain in turmoil and the Swedish krona has grown stronger, our own strengths and signs of some optimism in various parts of the world encourage us to remain cautiously positive about the prospects for 2012 as a whole,” Gerteric Lindquist concludes.
At 11:00 (C.E.T.) today, Gerteric Lindquist, MD and CEO of the NIBE Group, will hold a telephone conference (in English) for members of the press and financial analysts. Please phone +46(0)8 505 629 32.
Mr Benny Torstensson, Information Manager: tel. +46 (0)433-73 070
Mrs Christel Fritiofsson, IR Manager: tel. +46 (0)433-73 078