Nibe, manufacturer of heat pumps, reports an operating profit of 782 million kronor for the first quarter, which is an improvement of 51.6 percent compared to the first quarter last year.
Revenue amounted to 9.67 billion kronor, which is 1.9 percent higher than the corresponding period last year.
The operating margin improved from 5.4 percent during the first quarter of 2024 to 8.1 percent during the first quarter this year, which corresponds to an improvement of 48.7 percent.
"This year's first quarter provides support for our assumptions about an ongoing recovery within our largest product categories," writes CEO Gerteric Lindquist in a comment.
Within the largest product category, namely heat pumps, Nibe saw an improvement in demand in the manufacturing sector in Europe during the first quarter. The market for heat pumps in North America has also been stable during the period.
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