5/11/2017 8:00 AM

Interim report, Q1 2017

Strong start to the year

NIBE presents a strong start to the year as regards revenue and profit in today’s interim report for the first quarter of 2017

 

  • Sales rose by 43.6% to SEK 4,370 million (SEK 3,042 million)
  • Profit after net financial items rose by 47.7% to SEK 396 million (SEK 268 million)
  • Earnings per share amounted to SEK 0.58 (SEK 0.43)
  • Acquisition of majority of British Enertech Group, 50% of Canadian CGC Group and 80% of Italian element company HT S.p.A.

 

“The start of 2017 has been positive with a significant increase in both sales and profit. Despite a relatively high level of political uncertainty, general demand has improved somewhat in Europe, North America and Asia. The low interest rates, growing consumption and rising construction activity combined with an increasingly sustainable approach fits NIBE’s product range well,” says Gerteric Lindquist, CEO of NIBE.

 

“The NIBE Climate Solutions business area is strengthening its position by extending the product offering to include sustainable end-to-end climate control solutions for apartment blocks and commercial properties.

 

“The NIBE Element business area’s good operating margin trend continues thanks to its long-term, methodical efforts that include intensive product development, high quality and continuous rationalisation.

 

“The NIBE Stoves business area also continues to grow steadily, and the acquisition of Canadian Fireplace International with sales in both North America and Australia provides interesting growth potential.

 

“We have a strong product programme and a timely business philosophy that focuses on sustainability and energy efficiency. Even though it’s difficult to make predictions in the current business climate, we remain cautiously optimistic about 2017 thanks to stable profitability and good financial preparedness for acquisitions,” says Gerteric Lindquist.

 

Press information

A teleconference (in English) will be held for press and analysts today (+46 8 566 426 97) at 11:00 a.m. with CEO Gerteric Lindquist and CFO Hans Backman.

  

Benny Torstensson CIO: +46 433 73 070

Christel Fritiofsson Investor Relations Manager: +46 433 73 078

 

N.B.: You must be registered at www.nibe.com to view the images for the presentation.

This information is information that NIBE Industrier AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication through Benny Torstensson at 08:00 CET on 11 May 2017.