Financials NIBE Industrier AB

Equities

NIBE B

SE0015988019

Electrical Components & Equipment

Market Closed - Nasdaq Stockholm Other stock markets 09:30:00 11/07/2025 pm IST			5-day change	1st Jan Change
43.45 ^SEK	-2.12%		+1.02%	+0.49%

23/06	NIBE Industrier AB, Q1 2025 Earnings Call, May 15, 2025
23/06	German Heat Pump Market Cools in May	FW

Projected Income Statement: NIBE Industrier AB

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	27,146	30,832	40,071	46,649	40,521	41,069	43,378	46,489
Change	-	13.58%	29.97%	16.42%	-13.14%	1.35%	5.62%	7.17%
EBITDA ¹	4,764	5,735	7,347	8,745	5,275	6,438	7,222	7,921
Change	-	20.38%	28.11%	19.03%	-39.68%	22.05%	12.18%	9.68%
EBIT ¹	3,527	4,438	5,863	6,973	3,226	4,359	5,093	5,630
Change	-	25.83%	32.11%	18.93%	-53.74%	35.12%	16.84%	10.53%
Interest Paid ¹	-234	-150	-188	-642	-1,135	-843.2	-634.6	-576.8
Earnings before Tax (EBT) ¹	3,658	4,318	5,675	6,331	1,536	3,612	4,549	5,185
Change	-	18.04%	31.43%	11.56%	-75.74%	135.15%	25.93%	14%
Net income ¹	2,866	3,320	4,351	4,785	1,173	2,619	3,366	3,778
Change	-	15.84%	31.05%	9.97%	-75.49%	123.28%	28.52%	12.23%
Announcement Date	17/02/21	17/02/22	15/02/23	16/02/24	14/02/25	-	-	-

¹SEK in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	6,227	6,889	7,685	6,831	7,790	7,823	8,388	8,749	9,656	9,999	11,667	11,646	11,833	11,514	11,656	9,494	10,035	9,967	11,025	9,673	10,065	10,246	11,457	9,706	-	-	-
Change	-	10.63%	11.55%	-11.11%	14.04%	0.42%	7.22%	4.3%	10.37%	3.55%	16.68%	-0.18%	1.61%	-2.7%	1.23%	-18.55%	5.7%	-0.68%	10.62%	-12.26%	4.05%	1.8%	11.82%	-15.29%	-	-	-
EBITDA ¹	996	1,336	1,475	1,194	1,572	1,523	1,483	1,286	1,926	1,824	2,311	2,146	2,250	2,243	2,106	1,019	1,210	1,383	1,663	1,309	1,565	1,775	2,107	-	-	-	-
Change	-	34.14%	10.4%	-19.05%	31.66%	-3.12%	-2.63%	-13.28%	49.77%	-5.3%	26.7%	-7.14%	4.85%	-0.31%	-6.11%	-51.61%	18.74%	14.3%	20.25%	-21.29%	19.58%	13.41%	18.68%	-	-	-	-
EBIT ¹	682	1,036	1,171	865	1,185	1,202	1,186	941	1,569	1,465	1,888	1,755	1,847	1,779	1,592	516	669	912	1,129	782	1,005	1,190	1,466	952.2	-	-	-
Change	-	51.91%	13.03%	-26.13%	36.99%	1.43%	-1.33%	-20.66%	66.74%	-6.63%	28.87%	-7.04%	5.24%	-3.68%	-10.51%	-67.59%	29.65%	36.32%	23.79%	-30.74%	28.53%	18.43%	23.19%	-35.07%	-	-	-
Charge d'intérêts ¹	-34	-76	-60	-32	-51	-31	-36	-35	-22	-14	-117	-101	-146	-181	-214	-332	-273	-286	-244	-268	-226.5	-194	-182	-	-	-	-
Earnings before Tax (EBT) ¹	648	960	1,476	833	1,171	1,171	1,143	906	1,547	1,451	1,771	1,654	1,701	1,598	1,378	-911	396	626	1,425	514	772.8	918.8	1,203	751.9	1,009	1,084	1,479
Change	-	48.15%	53.75%	-43.56%	40.58%	0%	-2.39%	-20.73%	70.75%	-6.21%	22.05%	-6.61%	2.84%	-6.06%	-13.77%	-166.11%	143.47%	58.08%	127.64%	-63.93%	50.34%	18.9%	30.89%	-37.48%	34.21%	7.39%	36.46%
Net income ¹	480	752	1,212	634	899	895	892	662	1,216	1,104	1,369	1,270	1,319	1,216	980	-857	219	434	1,377	392	619.6	791.4	1,011	614	779	836.3	1,141
Change	-	56.67%	61.17%	-47.69%	41.8%	-0.44%	-0.34%	-25.78%	83.69%	-9.21%	24%	-7.23%	3.86%	-7.81%	-19.41%	-187.45%	125.55%	98.17%	217.28%	-71.53%	58.06%	27.73%	27.8%	-39.3%	26.89%	7.36%	36.44%
Announcement Date	19/08/20	18/11/20	17/02/21	11/05/21	19/08/21	17/11/21	17/02/22	17/05/22	18/08/22	16/11/22	15/02/23	16/05/23	17/08/23	15/11/23	16/02/24	16/05/24	16/08/24	15/11/24	14/02/25	15/05/25	-	-	-	-	-	-	-

¹SEK in Million

Estimates

Forecast Balance Sheet: NIBE Industrier AB

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	5,866	5,574	6,540	17,238	19,104	16,185	13,329	10,614
Change	-	-4.98%	17.33%	163.58%	10.82%	-15.28%	-17.65%	-20.37%
Announcement Date	17/02/21	17/02/22	15/02/23	16/02/24	14/02/25	-	-	-

¹SEK in Million

Estimates

Cash Flow Forecast: NIBE Industrier AB

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,109	1,242	2,065	3,852	2,224	1,834	1,442	1,723
Change	-	11.99%	66.26%	86.54%	-42.26%	-17.54%	-21.35%	19.45%
Free Cash Flow (FCF) ¹	3,914	2,021	549	-22	1,782	4,107	4,197	4,607
Change	-	-48.36%	-72.84%	-104.01%	8,200%	130.45%	2.19%	9.78%
Announcement Date	17/02/21	17/02/22	15/02/23	16/02/24	14/02/25	-	-	-

¹SEK in Million

Estimates

Forecast Financial Ratios: NIBE Industrier AB

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	17.55%	18.6%	18.33%	18.75%	13.02%	15.68%	16.65%	17.04%
EBIT Margin (%)	12.99%	14.39%	14.63%	14.95%	7.96%	10.61%	11.74%	12.11%
EBT Margin (%)	13.48%	14%	14.16%	13.57%	3.79%	8.79%	10.49%	11.15%
Net margin (%)	10.56%	10.77%	10.86%	10.26%	2.89%	6.38%	7.76%	8.13%
FCF margin (%)	14.42%	6.55%	1.37%	-0.05%	4.4%	10%	9.67%	9.91%
FCF / Net Income (%)	136.57%	60.87%	12.62%	-0.46%	151.92%	156.8%	124.68%	121.95%
Profitability
ROA	7.59%	8.12%	8.94%	7.84%	1.69%	-	-	-
ROE	16.1%	17.3%	18.1%	17.3%	4%	8.13%	9.81%	10.51%
Financial Health
Leverage (Debt/EBITDA)	1.23x	0.97x	0.89x	1.97x	3.62x	2.51x	1.85x	1.34x
Debt / Free cash flow	1.5x	2.76x	11.91x	-783.55x	10.72x	3.94x	3.18x	2.3x
Capital Intensity
CAPEX / Current Assets (%)	4.09%	4.03%	5.15%	8.26%	5.49%	4.47%	3.33%	3.71%
CAPEX / EBITDA (%)	23.28%	21.66%	28.11%	44.05%	42.16%	28.49%	19.97%	21.75%
CAPEX / FCF (%)	28.33%	61.45%	376.14%	-17,509.09%	124.8%	44.66%	34.37%	37.4%
Items per share
Cash flow per share ¹	2.493	1.618	1.297	1.9	1.987	3.196	2.805	3.3
Change	-	-35.1%	-19.87%	46.52%	4.59%	60.82%	-12.23%	17.66%
Dividend per Share ¹	0.3875	0.5	0.65	0.65	0.3	0.4465	0.5442	0.6288
Change	-	29.03%	30%	0%	-53.85%	48.83%	21.88%	15.54%
Book Value Per Share ¹	8.725	10.63	13.86	14.96	15.92	16.16	17.43	18.5
Change	-	21.83%	30.39%	7.94%	6.42%	1.54%	7.83%	6.15%
EPS ¹	1.422	1.65	2.16	2.37	0.58	1.299	1.671	1.873
Change	-	15.99%	30.91%	9.72%	-75.53%	123.97%	28.62%	12.08%
Nbr of stocks (in thousands)	20,16,066	20,16,066	20,16,066	20,16,066	20,16,066	20,16,066	20,16,066	20,16,066
Announcement Date	17/02/21	17/02/22	15/02/23	16/02/24	14/02/25	-	-	-