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 www.nibe.com 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 70Christel Fritiofsson Investor Relations Manager: +46 (0)433 – 27 30 78NIBE Group – a global Group with companies and a presence worldwide
NIBE Group is a global organisation that contributes to a smaller carbon footprint and better utilisation of energy. In our three business areas – Climate Solutions, Element and Stoves – we develop, manufacture and market a wide range of eco-friendly, energy-efficient solutions for indoor climate comfort in all types of property, plus components and solutions for intelligent heating and control in industry and infrastructure. From its beginnings in the Småland city of Markaryd nearly 70 years ago, NIBE has grown into an international company with 16,900 (14,300) employees and a presence worldwide. From the very start, the company was driven by a strong culture of entrepreneurship and a passion for responsible business operation. Its success factors are long-term investments in sustainable product development and strategic acquisitions. Combined, these factors have brought about strong, targeted growth, which generated sales of just over SEK 22 (19) billion in 2018. NIBE has been listed under the name NIBE Industrier AB on the Nasdaq Nordic Large Cap list since 1997, with a secondary listing on the SIX Swiss Exchange since 2011.AttachmentQ3_GB_2019-W