Heating technology company Nibe reports sales in line with expectations for the first quarter of 2025. Operating profit was better than analysts' expectations.
Net sales rose 1.9 percent to SEK 9,673 million (9,494). The result can be compared with Bloomberg's analyst consensus of SEK 9,801 million.
Organic sales increased by 1.8 percent, while acquired sales amounted to 0.1 percent.
Operating profit was SEK 782 million (-579), compared with an expected operating profit of SEK 760 million. The operating margin was 8.1 percent.
Adjusted operating profit amounted to SEK 782 million (516), compared with an expected SEK 760 million, with an adjusted operating margin of 8.1 percent (5.4).
Profit before tax was SEK 514 million (-911).
Profit after tax was SEK 391 million (-861).
Earnings per share amounted to SEK 0.19 (-0.42).
A slight increase in sales, combined with the action program implemented in 2024 and continued good cost control, are the main explanations for the positive earnings growth in the quarter.
"The first quarter of the year supports our assumptions of an ongoing recovery in our largest product categories. We are seeing a return to a more traditional seasonal pattern across
the entire Group, while our improved margins strengthen our ambition to return to an operating margin within each business area's historical range in 2025
range. Furthermore, we note that the strengthening of the Swedish currency and the political turmoil are causes for concern, comments CEO Gerteric Lindquist in the interim report.
Nibe's ambition is to return to an operating margin within the historical range for each business area by 2025.
"As previously mentioned, we are well aware that the somewhat unexpected strengthening of the Swedish currency, as well as all ongoing, equally unexpected, tariff developments, do not facilitate
the realization of our ambition, but we will, as usual, do everything in our power to live up to the commitment we have made. Our long-term growth and profitability targets also remain unchanged, in the certainty that our products are perfectly in tune with the times, when our entire society must
shift to a more sustainable way of life, Lindquist continues.
| Nibe, SEK million | Q1-2025 | Consensus | Change vs. consensus | Q1 | Change |
| Net sales | 9,673 | 9,801 | - | 9,494 | 1 |
| Operating profit | 782 | 760 | 2.9 | -579 | |
| Operating margin | 8 | 7 | |||
| Adjusted operating profit | 782 | 760 | 2.9 | 516 | 51 |
| Adjusted operating margin | 8 | 7 | 5 | ||
| Profit before tax | 514 | -911 | |||
| Net profit | 391 | -861 | |||
| Earnings per share, SEK | 0 | - |
