NIBE Industrier AB experiences challenges in first half, but expects improved demand second half.

From GlobeNewswire: 2024-08-16 02:00:00

NIBE Industrier AB has experienced significant changes in the first half of the year, including large inventory reductions, high interest rates, and low property production. Despite this, expectations for improved demand in all three business areas during the second half are high. Revenue totaled 19,529 Mkr (23,479 Mkr), adjusted operating profit was 1,185 Mkr (3,602 Mkr) and adjusted net profit was 257 Mkr (2,597 Mkr).

To address ongoing changes, an action program is being implemented. A press and analyst conference will be held at 11:00 AM today with CEO Gerteric Lindquist and CFO Hans Backman. Registration is required to participate and ask questions via the provided code on the NIBE website.

NIBE Group, an international conglomerate, develops energy-efficient solutions for indoor comfort and intelligent heating in various properties globally. With a workforce of 22,000 and operations worldwide, NIBE focuses on sustainable product development and strategic acquisitions, generating close to 47 billion kronor in revenue in 2023. NIBE has been listed on Nasdaq Nordic, Large Cap since 1997.



Read more at GlobeNewswire:: NIBE Industriers (publ) – Delårsrapport 2, 2024 (Q2)