Yet another strong year for NIBE

NIBE sums up another successful year and reports a sharp increase in both sales and profit in the company’s 2018 year-end report.

  • Sales rose by 18.5% to SEK 22,516 million (SEK 19,009 million)

  • Profit after net financial items rose by 22.2% to SEK 2,667 million (SEK 2,182 million)

  • Earnings per share amounted to SEK 4.11 (SEK 3.38)

  • Dividend of SEK 1.30/share (SEK 1.05/share) proposed

  • Partial acquisition of BriskHeat Corp. in the US, CK Fires Ltd in the UK, EMIN Group in Turkey, remaining shares in Rhoss S.p.A. in Italy and Alfa Laval’s business for district heating/cooling systems (Cetetherm)

“NIBE had a strong year in 2018 since the milestone and interim sales target of 20 billion was clearly passed. We’ve now set the next interim target at 40 billion,”says Gerteric Lindquist, Managing Director and CEO of NIBE.

“Continued good organic growth, a strong earnings performance and a high rate of acquisition persisted during the year. With their respective product ranges, all the business areas are well positioned as it becomes increasingly clear that society is transitioning to a more sustainable approach and behaviours. The integration of the acquired units is going as planned and they contributed to the increase in earnings.”

“Our products and our corporate philosophy are in tune with the times. We have sound profitability, are well prepared for additional acquisitions and have a very diverse geographical spread that creates stability. As always, there are many uncertainties out there in the world, but despite this, we remain cautiously optimistic about 2019,” says Lindquist.

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