Year-end report 2013
Healthy profit trend and stable margins enable continued expansion
NIBE reports an increase in both sales and profit in the company’s year-end report for 2013, published today.
- Sales rose by 7.0% to SEK 9,833 million (SEK 9,192 million)
- Profit after net financial items increased by 11.1% to SEK 1,117 million (SEK 1,005 million)
- Earnings per share amounted to SEK 7.78 (SEK 6.93)
- A dividend of SEK 2.35/share (SEK 2.00/share) is proposed
- Three international acquisitions – in Denmark, the UK and France (2014)
“Our market assessments for 2013 were based on the belief that the economy would remain weak but would bottom out at some point during the second half of the year. Against this background our aim, despite the situation, was to improve our earnings by increasing our margins,” comments NIBE’s Group CEO Gerteric Lindquist.
“The healthy earnings trend is primarily due to methodical efforts to adapt our fixed costs, generate considerable flexibility in production capacity and continue to improve productivity.
“Our financial position leaves us well-equipped for further acquisitions, while a persistently high pace of product development and strong market presence create the perfect conditions for organic growth, particularly since the economy now appears to be heading, albeit tentatively, in the right direction.
“As always it’s difficult to make firm predictions about the future, but we feel able to look ahead with confidence,” says Gerteric Lindquist.
Press information
A telephone conference (+46 8 519 993 68) for press and analysts will be held (in English) with CEO Gerteric Lindquist and CFO Hans Backman today at 11.00.
Benny Torstensson, CIO: +46 (0)433 73070
Christel Fritiofsson, Investor Relations Manager: +46 (0)433 73078
