NIBE reports continued stable sales and earnings performance in the first half of 2019.
“During the first half of the year, we saw continued stable sales and earnings performance. However, there has been wide variation where demand grew for products with a sustainability profile, while demand for consumer and specialised products was weaker,”said Gerteric Lindquist, CEO of NIBE.
“Sustainability is steadily gaining ground in an increasing number of social sectors, both nationally and internationally – a development that fits NIBE perfectly. With NIBE Climate Solutions' high-performance climate control solutions for both single-family homes and commercial properties, NIBE Element's intelligent system solutions with sustainability profiles as well as NIBE Stove's products with high combustion efficiency and low emission levels, we find ourselves in very interesting market segments with great future potential.”
“The change of ownership in Swiss company Schultess Machinen AG is natural as its product range of washing machines and tumble dryers is not part of our core business. The process has begun, but over the next three years we will continue to hold 51% of the shares in the new owner company Schulthess Maschinen AG. Thereafter, we will gradually liquidate our entire shareholding over a three- to four-year period.”
“Our strong product programme and our business philosophy are timely with their focus on sustainability and energy efficiency. Even though it’s difficult to make predictions in the current business climate, we remain cautiously optimistic about 2019 thanks to stable profitability and good financial preparedness for acquisitions,” said Lindquist.