Nibe Industrier Ab Class B · OMXSTO:NIBE_B
Nibe Industrier Ab Class B — Q1 2025 Earnings Presentation
33 slides from Nibe Industrier Ab Class B's earnings presentation, May 15, 2025
Slide 1: NIBE Q1, 2025
NIBE Q1, 2025
Slide 2: Continued signs of recovery, in a still somewhat cautious market
Q1 2025 Our Business environment Continued signs of recovery, in a still somewhat cautious market • The first quarter continues the trend – • Lower interest rates predicted to have signs of recovery in the market, but with positive impact on the overall economy a noticeable cautiousness • Difficult
Slide 3: Group key figures Q1 2025
Q1 2025 2025 2024 Past 12 2024 Q1 Q1 months Full year Invoiced sales MSEK 9,673 9,494 40,700 40,521 Growth % +1,9 -18.5 -8,5 -13.1 of which acquired % +0.1 +5.5 +2.0 +3.3 Gross margin % 29.7 28.3* 29.7* 29.1* Operating profit MSEK 782 516* 3,492* 3,226* Growth % +51.5 -70.6 -24.7 -53.7 Operating mar
Slide 4: Net sales
Q1 2025 Net sales Past nine quarters (in millions of SEK)
Slide 5: Profit after financial items
Q1 2025 Profit after financial items* Past nine quarters (in millions of SEK) *Profit and key ratios for 2024 have been calculated excluding items affecting comparability
Slide 6: Slight increase in sales and improved margins
Q1, 2025 Slight increase in sales and improved margins • A continued improved underlying • Better resilience in the commercial demand for heat pumps at the business segment manufactures level in Europe • We expect a gradual improvement • Stable demand for heat pumps in going forward North America •
Slide 7: Net sales
Q1 2025 2025 2024 Q1 Q1 Net sales MSEK 6,022 5,834 Operating profit MSEK 555 332* Operating margin % 9.2 5.7*
Slide 8: Stable demand in an unpredictable environment
Q1, 2025 Stable demand in an unpredictable enivornment • Continued significant variations in • We expect a continuous improvement in demand between different business sales to the Heat pump industry going segments forward, but with a slightly deferred business cycle compared to the business cycles o
Slide 9: Net sales
Q1 2025 2025 2024 Q1 Q1 Net sales MSEK 2,888 2,711 Operating profit MSEK 179 137* Operating margin % 6.2 5.1*
Slide 10: Marketing activities and production adjustments
Q1, 2025 Marketing activities and production adjustments • We expect a gradual improvement • Still low level of new construction going forward mainly due to stronger and renovation continue to create a North American demand recovery challenging market • Clear return to a traditional seasonal • Our a
Slide 11: Net sales
Q1 2025 2025 2024 Q1 Q1 Net sales MSEK 926 1,052 Operating profit MSEK 61 65* Operating margin % 6.6 6.2*
Slide 12: Distribution of net sales
Q1 2025 Distribution of net sales NIBE Stoves NIBE Element NIBE Climate Solutions
Slide 13: Distribution of operating profit
Q1 2025 Distribution of operating profit NIBE Stoves NIBE Element NIBE Climate Solutions
Slide 14: Geographical distribution of Group sales
Q1 2025 Geographical distribution of Group sales Others Nordic countries North America Europe excl the Nordic countries
Slide 15: NIBE Climate Solutions key figures
Q1 2025 2025 2024 Past 12 2024 Q1 Q1 months Full year Net sales MSEK 6,022 5,834 26,225 26,037 Growth % +3.2 -24.6 -11.0 -17.0 of which acquired % 0 +7.3 +2.5 +4.2 Gross margin % 32.1 31.2* 32.2* 31.6* Operating profit MSEK 555 332* 2,648* 2,425* Growth % +67.2 -75.4 -29.9 -56.7 Operating margin % 9
Slide 16: Geographical distribution of sales
Q1 2025 Geographical distribution of sales Others Nordic countries North America Europe excl the Nordic countries
Slide 17: NIBE Element key figures
Q1 2025 2025 2024 Past 12 2024 Q1 Q1 months Full year Net sales MSEK 2,888 2,711 11,269 11,092 Growth % +6.5 -10.0 -2.8 -6.8 of which acquired % +0.5 +1.9 +1.2 +1.6 Gross margin % 20.2 18.6* 20.7* 20.2* Operating profit MSEK 179 137* 671* 629 Growth % +30.7 -51.1 +24.9 -33.2* Operating margin % 6.2
Slide 18: Geographical distribution of sales
Q1 2025 Geographical distribution of sales Others Nordic countries North America Europe excl the Nordic countries
Slide 19: NIBE Stoves key figures
Q1 2025 2025 2024 Past 12 2024 Q1 Q1 months Full year Net sales MSEK 926 1,052 3,738 3,864 Growth % -12.0 -15.8 -18.0 -18.8 of which acquired % 0 +1.9 +0.5 +1.0 Gross margin % 37.0 35.0* 34.5* 34.0* Operating profit MSEK 61 65* 199* 203 Growth % -6.2 -60.6 -49.6 -61.9* Operating margin % 6.6 6.2* 5.
Slide 20: Geographical distribution of sales
Q1 2025 Geographical distribution of sales Others Nordic countries North America Europe excl the Nordic countries
Slide 21: Balance sheet
Q1 2025 Balance sheet 2025 2024 2024 31 Mar 31 Mar 31 Dec Intangible assets MSEK 30,055 31,997 32,241 Tangible assets MSEK 12,612 12,145 13,214 Financial assets MSEK 1,566 1,500 1,524 Non-financial current assets MSEK 17,111 19,896 17,820 Financial current assets MSEK 4,639 3,841 5,607 Total assets
Slide 22: Balance sheet
Q1 2025 Balance sheet 2025 2024 2024 31 Mar 31 Mar 31 Dec Equity MSEK 29,946 30,831 32,140 Long term liabilities– Non interest-bearing MSEK 4,578 5,778 4,990 Long term liabilities– Interest-bearing MSEK 16,990 17,185 17,625 Current liabilities– Non interest-bearing MSEK 7,859 9,448 8,565 Current lia
Slide 23: Cash flow analysis
Q1 2025 Cash flow analysis 2025 2024 2024 Jan-Mar Jan-Mar Jan-Dec Cash flow – operating MSEK 658 -318 3,826 activities Change in working capital MSEK -415 59 180 Investments – current MSEK -619 -470 -2,224 operations Operating cash flow MSEK -376 -729 1,782 Acquisitions MSEK 0 0 -621 Financing activ
Slide 24: Key financial figures
Q1 2025 Key financial figures 2025 2024 2024 Jan-Mar Jan-Mar Jan-Dec Investments MSEK 619 470 2,328 of which in current MSEK 619 470 2,224 operations Unappropriated liq, assets MSEK 5,082 4,492 6,177 Interest bearing % 78.8 75.6 76.9 liabilities/Equity Net debt/EBITDA times 3.1* 2.5* 3.2* Equity/ass
Slide 25: Key financial figures
Q1 2025 Key financial figures 2025 2024 2024 Jan-Mar Jan-Mar Jan-Dec Working capital MSEK 13,891 14,289 14,862 incl cash and bank Working capital % 34.1 32.1 36.7 incl cash and bank Working capital MSEK 9,252 10,448 9,255 excl cash and bank Working capital % 22.7 23.5 22.8 excl cash and bank
Slide 26: Key financial figures
Q1 2025 Key financial figures 2025 2024 2024 Jan-Mar Jan-Mar Jan-Dec Return on % 7.3* 11.7* 6.8* capital employed Return on equity % 6.2* 12.7* 5.4* Net profit/share SEK 0.19 0.02* 0.80* Equity/share SEK 14.84 15.27 15.92 Closing day share price SEK 37.93 52.56 43.24 *Key ratios have been calculated
Slide 27: Grand Opening NIBE World of Energy, Markaryd
Grand Opening NIBE World of Energy, Markaryd Yesterday, May 14, NIBE’s new meeting place for future energy solutions - NIBE World of Energy - was officially inaugurated. It is a place for meetings, education and inspiration, practical training on the company's products and more. The building is also
Slide 28: ISH, the most important meeting place for the HVAC-industry
ISH, the most important meeting place for the HVAC-industry ISH, March 17 – 21, is Europe's most important and comprehensive meeting place, held every other year, for the HVAC industry. NIBE Group was present with several brands and different types of product solutions for residential as well as com
Slide 29: Several examples of investments in the railway sector
Several examples of investments in the railway sector Business Area NIBE Element experience a positive trend in the Railway sector. This applies to both the infrastructure and heating of the railway vehicles themselves. A prominent example is products for the iconic Orient Express to create comfort
Slide 30: 'World of Fireplaces' in Leipzig and 'HPBQ' in New Orleans
‘World of Fireplaces’ in Leipzig and ‘HPBQ’ in New Orleans The ‘World of Fireplaces” fair in Leipzig, Germany, and the ‘Hearth, Patio & Barbecue Expo’ in New Orleans, USA, are the two main meeting places for the Business Area NIBE Stoves on both sides of the Atlantic. NIBE Group was well represented
Slide 31: NIBE GROUP Q1 2025 Q&A
NIBE GROUP Q1 2025 Q&A NIBE GROUP
Slide 32: Disclaimer NIBE Industrier AB (publ)
Q1 2025 Disclaimer NIBE Industrier AB (publ) • This presentation has been prepared by NIBE Industrier (publ) (the “Company”) solely for use at this presentation and is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. •
Slide 33: NIBE GROUP Q1 2025
NIBE GROUP Q1 2025 NIBE NIBE GROUP