Interim report Q2 2020

Continued stable growth – the effects of Covid-19 have been fended off relatively well

- Sales rose by 6.0% to SEK 12,572 million (SEK 11,856 million)

- Profit after net financial items rose by 8.3% to SEK 1,222 million (SEK 1,128 million

- Earnings per share amounted to SEK 1.79 (SEK 1.71)

- Acquisition of Serbian TIKI Group, Turkish Üntes, Dutch Nathan, German WATERKOTTE, Swedish VEÅ and Italian Termtech (after end of period)

- A final decision on dividend will be taken after the end of Q3

 “Demand has varied between different market segments where those with clear sustainability characteristics, such as heat pumps, continued to perform well. It is also gratifying that demand in the semiconductor industry has shown good growth, whereas the domestic appliance sector, traditional automotive industry and oil and gas industry have seen weaker growth. After a weak period, demand for stoves, which are considered durable goods, increased towards the end of Q2. Even though Covid-19 has affected us during the first half of the year, the effects have been fended off relatively well, which resulted in continued stable growth so far this year,” said Gerteric Lindquist, Managing Director and CEO of NIBE. 

Read the full report here Pdf, 3.3 MB.