As the last company on the large-cap list on the Stockholm Stock Exchange, Nibe has now released quarterly figures for the third quarter.
The company's reported revenue was lower than market expectations, while the operating profit of 912 million kronor represents almost a halving of the result for the same period in 2024.
On the Stockholm Stock Exchange, the company is also being punished, with a decline of over 2 percent, which gives a price drop of around 28 percent since the turn of the year.
There are glimmers of light
Despite everything, CEO Gerteric Lindquist sees glimmers of light for the company:
When you enter the forest, it's a bit dark and you don't know where the middle is, but eventually you've passed it and we're now on our way out of the forest, he describes the current market situation.
The company has struggled in recent years with significantly reduced demand as a consequence of rising interest rates. A new concern is how the market in the USA will develop with Donald Trump as president, with import tariffs and whether tax deductions for the installation of heat pumps will be affected?
When it comes to manufacturing, we manufacture everything we sell in North America right there, so we basically have no exports. When it comes to the other thing, it's not something we've become anxious about. It remains to be seen what becomes reality out of this.
Most important market
Gerteric Lindquist's assessment is that American private consumers' interest will not dwindle, and in comparison between the USA and Europe, the latter market is still more important for the company. The challenge right now is Germany, where he does not see an immediate improvement.
It's clear that it's not a desirable situation, he says about the news of new elections in Germany, but I don't think that a change of government there, or a transition period, means that you lose the concept and it becomes chaos.
Nibe, which among other things manufactures heat pumps, reports an operating profit of 912 million kronor for the third quarter. This can be compared to 1,779 million for the same period last year.
Revenue amounted to 9,967 million, compared to 11,514 million kronor last year.
The company's share has developed in recent years to become a favorite among small investors, but since the turn of the year, the share has fallen by around 30 percent, while the Stockholm Stock Exchange's OMXS index has risen by around 8 percent.
