Interim report 3 2019, Q3

Continued stable performance in a cautious market

  •  Sales rose by 13.7% to SEK 18,205 million (SEK 16,018 million)
  • Profit after net financial items increased by 8.9% to SEK 1,950 million (SEK 1,790 million)
  • Earnings per share amounted to SEK 2.97 (SEK 2.74)
  • Acquisition of 51% of shares in US element company Therm-X of California Inc.,
  • 50% of shares in Turkish ventilation and air conditioning group Üntes and remaining 55% of shares in Italian ventilation company Rhoss S.p.A
  • Change of ownership in washing machine company Schulthess Maschinen AG

“During the first nine months of the year, we continued to grow steadily, with sales growth of 13.7%, of which 4.6% was acquired,” said Gerteric Lindquist, CEO of NIBE.


“Overall demand is being influenced by a cautious attitude but with wide variations between different market segments.


With our company philosophy and our strong product range, we are well positioned in a market that is increasingly feeling the influences of the transition to a more sustainable society while digitalisation of our daily lives continues unabated.


This year’s acquisitions as well as our focus on product development should further strengthen our position. Even though it’s difficult to make predictions in our current business climate, we remain cautiously optimistic about 2019 thanks to our stable profitability and good financial preparedness for further offensive acquisitions.”

Press information

A teleconference (in English) will be held for press and analysts at 11:00 (CET) today with CEO Gerteric Lindquist and CFO Hans Backman. To attend the conference, ring +46 8 566 426 92.

PLEASE NOTE: You must be registered at to view the images for the presentation.

NIBE Industrier AB (publ) is required to disclose the information in this press release under the EU’s Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted through the agency of Benny Torstensson for publication on 15 November 2019 at 08:00 CET.

Benny Torstensson CIO: +46 (0)433 - 27 30 70
Christel Fritiofsson Investor Relations Manager: +46 (0)433 - 27 30 78