Year-end report 2017. Another strong year – the 20 billion intermediate target is very close

NIBE reports another successful year and shows a significant increase in both sales and profit in the company’s 2017 year-end report

 Sales rose by 23.9% to SEK 19,009 million (SEK 15,348 million)

  • Profit after net financial items rose by 16.6% to SEK 2,182 million (SEK 1,871 million)
  • Earnings per share amounted to SEK 3.38 (SEK 2.93)
  • Dividend of SEK 1.05/share (SEK 0.88/share) proposed
  • Partial acquisition of Enertech Group in Great Britain, CGC Group and Tempeff in Canada, HT and Rhoss in Italy, and Gaumer and BriskHeat in the United States.

 “For NIBE, 2017 was a strong year and the intermediate target of achieving sales of 20 billion by 2020 now feels very close. As soon as we pass the 20 billion sales target, the next milestone will be 40 billion,” says Gerteric Lindquist, CEO of NIBE.

 “The year was characterized by good demand, resulting in high production rates, continued high acquisition intensity, especially in North America, and several good signs that our product range based on intelligent, sustainable, fossil-free climate control solutions is highly appreciated.”

“All business areas are growing and taking a bigger share of their markets, thus strengthening their international presence.”

 “We have a timely product programme and business philosophy. Our profitability is stable, we are well-prepared for further acquisitions and are geographically widespread, which creates stability. As always, there are many uncertainties in the outside world, but we are still cautiously positive on 2018,” says Lindquist.

 NIBE Industrier AB is required to disclose the information in this press release under the Market Abuse Regulation and Nasdaq Stockholm’s rules and regulations for issuers. The information was submitted through Benny Torstensson for publication on 16 February 2018 at 08:00 CET.

 

Benny Torstensson CIO: +46 433 73 070

Christel Fritiofsson Investor Relations Manager: +46 433 73 078

 

https://www.nibe.com/investors-media/pm-news-reports/2018---news-reports/2018-02-16-another-strong-year---the-20-billion-intermediate-target-is-very-close.html