Reported Earnings • May 20
First quarter 2026 earnings released: EPS: kr0.25 (vs kr0.19 in 1Q 2025) First quarter 2026 results: EPS: kr0.25 (up from kr0.19 in 1Q 2025). Revenue: kr9.65b (flat on 1Q 2025). Net income: kr505.0m (up 29% from 1Q 2025). Profit margin: 5.2% (up from 4.1% in 1Q 2025). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Announcement • Nov 04
NIBE Industrier AB (publ) (OM:NIBE B) acquired 70% stake in Selmo Srl. NIBE Industrier AB (publ) (OM:NIBE B) acquired 70% stake in Selmo Srl on November 1, 2025. The local management team, led by founders Alessandro Fantin and Giulio Calore, will continue to lead Selmo Srl. NIBE Industrier AB will acquire the remaining shares by 2028. The acquired business will constitute only a small part of the NIBE Group.
Selmo has a turnover of EUR 18 million.
NIBE Industrier AB (publ) (OM:NIBE B) completed the acquisition of 70% stake in Selmo Srl on November 1, 2025. Announcement • May 16
NIBE Industrier AB (publ) Resolves Dividend NIBE Industrier AB (publ) announced that at its AGM held on 15 May 2025, the annual general meeting resolved in accordance with the board's proposal that a dividend of SEK 0.30 per share be paid. The record date for the dividend is 19 May 2025. Announcement • Feb 15
NIBE Industrier AB (publ), Annual General Meeting, May 15, 2025 NIBE Industrier AB (publ), Annual General Meeting, May 15, 2025, at 17:00 W. Europe Standard Time. Buy Or Sell Opportunity • Jan 09
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to €3.55. The fair value is estimated to be €4.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 57% per annum over the same time period. Board Change • Dec 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Camilla Ekdahl was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: kr0.22 (vs kr0.60 in 3Q 2023) Third quarter 2024 results: EPS: kr0.22 (down from kr0.60 in 3Q 2023). Revenue: kr9.97b (down 13% from 3Q 2023). Net income: kr434.0m (down 64% from 3Q 2023). Profit margin: 4.4% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. New Risk • Nov 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin). Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €4.95, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 17x in the Building industry in Europe. Total loss to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.65 per share. Announcement • Aug 21
NIBE Industrier AB (publ) to Report Fiscal Year 2024 Results on Feb 14, 2025 NIBE Industrier AB (publ) announced that they will report fiscal year 2024 results at 8:00 AM, Central European Standard Time on Feb 14, 2025 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: kr0.11 (vs kr0.65 in 2Q 2023) Second quarter 2024 results: EPS: kr0.11 (down from kr0.65 in 2Q 2023). Revenue: kr10.0b (down 15% from 2Q 2023). Net income: kr219.0m (down 83% from 2Q 2023). Profit margin: 2.2% (down from 11% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Board Change • Jul 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Camilla Ekdahl was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Feb 23
Dividend of kr0.65 announced Shareholders will receive a dividend of kr0.65. Ex-date: 17th May 2024 Payment date: 23rd May 2024 Dividend yield will be 12%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 20
NIBE Industrier AB (publ) to Report Fiscal Year 2023 Final Results on Apr 15, 2024 NIBE Industrier AB (publ) announced that they will report fiscal year 2023 final results at 8:00 AM, Central European Standard Time on Apr 15, 2024 Reported Earnings • Feb 18
Full year 2023 earnings released: EPS: kr2.37 (vs kr2.16 in FY 2022) Full year 2023 results: EPS: kr2.37 (up from kr2.16 in FY 2022). Revenue: kr46.6b (up 16% from FY 2022). Net income: kr4.79b (up 10.0% from FY 2022). Profit margin: 10% (in line with FY 2022). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 16
NIBE Industrier AB (publ) Proposes Dividend NIBE Industrier AB (publ) proposed dividend of SEK 0.65 per share compared to SEK 0.65 per share a year ago. Announcement • Nov 18
NIBE Industrier AB (publ) (OM:NIBE B) acquired 70% stake in LS Control A/S. NIBE Industrier AB (publ) (OM:NIBE B) acquired 70% stake in LS Control A/S on November 17, 2023. NIBE Industrier AB (publ) (OM:NIBE B) will acquire remaining 30% of the shares of LS Control A/S in two stages by 2028 at the latest. LS Control has annual sales of approximately DKK 100 million for the year ended 2022. The local management will continue to lead the LS Control. LS Control will become part of the NIBE Element business area and will be consolidated with NIBE from December 1, 2023.NIBE Industrier AB (publ) (OM:NIBE B) completed the acquisition of 70% stake in LS Control A/S on November 17, 2023. New Risk • Nov 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 12% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Announcement • Nov 17
NIBE Industrier AB (publ) to Report Q1, 2024 Results on May 16, 2024 NIBE Industrier AB (publ) announced that they will report Q1, 2024 results on May 16, 2024 Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €6.20, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Building industry in Europe. Total returns to shareholders of 8.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €6.91 per share. New Risk • Nov 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Nov 01
NIBE Industrier AB (publ), Annual General Meeting, May 16, 2024 NIBE Industrier AB (publ), Annual General Meeting, May 16, 2024, at 17:00 Central European Standard Time. Announcement • Oct 31
NIBE Industrier AB (publ) to Report Q4, 2023 Results on Feb 16, 2024 NIBE Industrier AB (publ) announced that they will report Q4, 2023 results at 8:00 AM, Central European Standard Time on Feb 16, 2024 Announcement • Sep 03
NIBE Industrier AB (publ) Announces Director of Board, Georg Brunstam Passes Away NIBE Industrier AB (publ) announced director of the board Georg Brunstam has suddenly passed away. Georg Brunstam was a director of the board of the company since 2003. Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr11.8b (up 23% from 2Q 2022). Net income: kr1.32b (up 8.5% from 2Q 2022). Profit margin: 11% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Building industry in Europe. Announcement • Jul 06
NIBE Industrier AB (publ) (OM:NIBE B) acquired 83% stake in Solzaima - Equipamentos para Energias Renováveis, S.A. NIBE Industrier AB (publ) (OM:NIBE B) acquired 83% stake in Solzaima - Equipamentos para Energias Renováveis, S.A. on July 5, 2023. The remaining shares is to be acquired by 2028. Solzaima will form part of the NIBE Stoves business area and consolidated with NIBE from September 1, 2023. For FY 2022, Solzaima had turnover of just over €20 million, an operating margin of well above 10% and employed 200 people.NIBE Industrier AB (publ) (OM:NIBE B) completed the acquisition of 83% stake in Solzaima - Equipamentos para Energias Renováveis, S.A. on July 5, 2023. Announcement • May 17
NIBE Industrier AB (publ) Approves Dividend, Payable on May 19, 2023 The AGM approved the Board's of NIBE Industrier AB (publ) proposal to pay a dividend of SEK 0.65 per share. The record date for the payment of the dividend is May 19, 2023. Reported Earnings • May 16
First quarter 2023 earnings released First quarter 2023 results: Revenue: kr11.6b (up 33% from 1Q 2022). Net income: kr1.27b (up 92% from 1Q 2022). Profit margin: 11% (up from 7.6% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Building industry in Europe. Upcoming Dividend • May 10
Upcoming dividend of kr0.65 per share at 0.6% yield Eligible shareholders must have bought the stock before 17 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.1%). Reported Earnings • Apr 16
Full year 2022 earnings released: EPS: kr2.16 (vs kr1.65 in FY 2021) Full year 2022 results: EPS: kr2.16 (up from kr1.65 in FY 2021). Revenue: kr40.1b (up 30% from FY 2021). Net income: kr4.35b (up 31% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: kr2.16 (vs kr1.65 in FY 2021) Full year 2022 results: EPS: kr2.16 (up from kr1.65 in FY 2021). Revenue: kr40.1b (up 30% from FY 2021). Net income: kr4.35b (up 31% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 15
NIBE Industrier AB (publ) (OM:NIBE B) acquired 65% stake in Miles Industries Ltd from Martin Miles and Paul Miles. NIBE Industrier AB (publ) (OM:NIBE B) acquired 65% stake in Miles Industries Ltd from Martin Miles and Paul Miles on January 1, 2023. NIBE Industrier AB (publ) will acquire remaining 35% stake by 2026. Martin and Paul Miles will continue to run the operations. Miles Industries has sales of some CAD 75 million and an operating margin that clearly exceeds 10%.NIBE Industrier AB (publ) (OM:NIBE B) completed the acquisition of 65% stake in Miles Industries Ltd from Martin Miles and Paul Miles on January 1, 2023. Recent Insider Transactions • Dec 01
Insider recently sold €752k worth of stock On the 25th of November, Klas Dahlberg sold around 79k shares on-market at roughly €9.57 per share. This transaction amounted to 88% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €831k more than they sold in the last 12 months. Reported Earnings • Nov 17
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr10.00b (up 28% from 3Q 2021). Net income: kr1.10b (up 23% from 3Q 2021). Profit margin: 11% (in line with 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Building industry in Europe. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €7.40, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 12x in the Building industry in Europe. Total returns to shareholders of 151% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.43 per share. Reported Earnings • Aug 19
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr9.66b (up 24% from 2Q 2021). Net income: kr1.22b (up 35% from 2Q 2021). Profit margin: 13% (up from 12% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 16%, compared to a 11% growth forecast for the Building industry in Germany. Announcement • Jul 07
NIBE Industrier AB (publ) (OM:NIBE B) agreed to acquire 41% stake in Pacific Energy Fireplace Products Ltd. NIBE Industrier AB (publ) (OM:NIBE B) agreed to acquire 41% stake in Pacific Energy Fireplace Products Ltd on July 6, 2022. The current management team, together with Paul Erickson, will remain with the company. Early in 2021 NIBE acquired 10% of the shares in the Canadian wood stove company Pacific Energy. At the same time an agreement was signed to acquire the remaining shares in 2022 and 2023. Pacific Energy will be included in the NIBE Stoves business area and will be consolidated from 1 July 2022. The remaining 49% of the shares will be acquired in the first half of 2023. Recent Insider Transactions • Jun 23
Insider recently bought €93k worth of stock On the 16th of June, Klas Dahlberg bought around 15k shares on-market at roughly €6.43 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €360k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €6.95, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 14x in the Building industry in Europe. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.16 per share. Announcement • Jun 01
NIBE Industrier AB signed an agreement to acquire 50% of the shares in Argoclima S.p.A. on May 31, 2022. NIBE Industrier AB signed an agreement to acquire 50% of the shares in Argoclima S.p.A. on May 31, 2022. The remaining stake willl be acquired within a five-year period. Argoclima will become part of the NIBE Climate Solutions business area. Consolidation with NIBE will be from 1 June 2022. Argoclima currently has around 200 employees and sales amount to around EUR 100 million. Reported Earnings • May 18
First quarter 2022 earnings released: EPS: kr0.33 (vs kr0.31 in 1Q 2021) First quarter 2022 results: EPS: kr0.33 (up from kr0.31 in 1Q 2021). Revenue: kr8.75b (up 28% from 1Q 2021). Net income: kr662.0m (up 4.4% from 1Q 2021). Profit margin: 7.6% (down from 9.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 12%, compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 11
Upcoming dividend of kr0.50 per share Eligible shareholders must have bought the stock before 18 May 2022. Payment date: 24 May 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (3.1%). Reported Earnings • Apr 15
Full year 2021 earnings released: EPS: kr1.65 (vs kr1.42 in FY 2020) Full year 2021 results: EPS: kr1.65 (up from kr1.42 in FY 2020). Revenue: kr30.8b (up 14% from FY 2020). Net income: kr3.32b (up 16% from FY 2020). Profit margin: 11% (in line with FY 2020). Over the next year, revenue is forecast to grow 14%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Feb 20
Insider recently bought €188k worth of stock On the 18th of February, Klas Dahlberg bought around 26k shares on-market at roughly €7.36 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €902k more in shares than they bought in the last 12 months. Reported Earnings • Feb 18
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: kr30.8b (up 14% from FY 2020). Net income: kr3.32b (up 16% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.7%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 17
NIBE Industrier AB (publ) Proposes Dividend for the Year 2021 NIBE Industrier AB (publ) proposed dividend of SEK 0.50 per share for the year 2021, compared to SEK 0.3875 per share a year ago. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €10.86, the stock trades at a forward P/E ratio of 61x. Average forward P/E is 21x in the Building industry in Europe. Total returns to shareholders of 366% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.37 per share. Reported Earnings • Nov 18
Third quarter 2021 earnings released The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: kr7.82b (up 14% from 3Q 2020). Net income: kr895.0m (up 19% from 3Q 2020). Profit margin: 11% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 28
NIBE Industrier AB (publ) (OM:NIBE B) signed an agreement to acquire 50% stake in Go Geothermal Ltd. NIBE Industrier AB (publ) (OM:NIBE B) signed an agreement to acquire 50% stake in Go Geothermal Ltd on August 26, 2021. NIBE will acquire the remaining shares within a five-year period. Go Geothermal has 13 employees. Go Geothermal´s management will continue as co-owners. Go Geothermal will work with CTC brand products in the Swedish Enertech Group and will be part of the NIBE Climate Solutions business area. The purchase price is not specified because the acquired business will only constitute a small part of the NIBE Group. Financials reported as Sales in 2020 amounted to about £8.3 million with an operating margin well above 10%. Consolidation within NIBE will be from September 1, 2021. James Foster of Shoosmiths LLP acted as legal advisor for the shareholders of Go Geothermal Ltd. in the transaction. Reported Earnings • Aug 21
Second quarter 2021 earnings released: EPS kr0.45 (vs kr0.24 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr7.79b (up 25% from 2Q 2020). Net income: kr899.0m (up 87% from 2Q 2020). Profit margin: 12% (up from 7.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 12
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr6.83b (up 7.7% from 1Q 2020). Net income: kr634.0m (up 50% from 1Q 2020). Profit margin: 9.3% (up from 6.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 12
NIBE Industrier AB (publ) Approves Dividend NIBE Industrier AB (publ) at its annual general meeting held on May 11, 2021, approved the board’s proposal to pay a dividend of SEK 1.55 per share. The record date for the payment of the dividend is May 14, 2021. Announcement • May 09
NIBE Industrier AB (publ) (OM:NIBE B) acquired Heat Trace Holdings Limited. NIBE Industrier AB (publ) (OM:NIBE B) acquired Heat Trace Holdings Limited on May 1, 2021. As a part of transaction, Heat Trace Holdings Limited will be included in the NIBE Element business area and will be consolidated into NIBE Industrier AB (publ) from May 1, 2021. Heat Trace Holdings Limited generates annual sales of £10 million. As per the transaction, current management team of Heat Trace Holdings Limited will continue to lead the company in NIBE Industrier AB (publ). Per-Ivar Svensson of Advokatfirman Delphi KB acted as legal advisor to NIBE Industrier AB (publ).
NIBE Industrier AB (publ) (OM:NIBE B) completed the acquisition of Heat Trace Holdings Limited on May 1, 2021. Upcoming Dividend • May 05
Upcoming dividend of kr1.55 per share Eligible shareholders must have bought the stock before 12 May 2021. Payment date: 19 May 2021. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (1.6%). Reported Earnings • Apr 15
Full year 2020 earnings released: EPS kr5.69 (vs kr4.31 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr27.1b (up 7.1% from FY 2019). Net income: kr2.87b (up 32% from FY 2019). Profit margin: 11% (up from 8.6% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Mar 10
Chief Financial Officer recently bought €36k worth of stock On the 4th of March, Hans Backman bought around 1k shares on-market at roughly €26.47 per share. In the last 3 months, there was an even bigger purchase from another insider worth €76k. This was Hans' only on-market trade for the last 12 months. Recent Insider Transactions • Feb 28
Insider recently bought €76k worth of stock On the 26th of February, Klas Dahlberg bought around 3k shares on-market at roughly €26.06 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €785k more in shares than they bought in the last 12 months. Reported Earnings • Feb 18
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr27.1b (up 7.1% from FY 2019). Net income: kr2.87b (up 32% from FY 2019). Profit margin: 11% (up from 8.6% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 18
Revenue beats expectations Revenue exceeded analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 4.1%, compared to a 3.6% growth forecast for the Building industry in Germany. Is New 90 Day High Low • Feb 16
New 90-day high: €29.87 The company is up 31% from its price of €22.79 on 18 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.31 per share. Is New 90 Day High Low • Jan 19
New 90-day high: €29.35 The company is up 34% from its price of €21.94 on 21 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.19 per share. Is New 90 Day High Low • Dec 24
New 90-day high: €26.29 The company is up 26% from its price of €20.86 on 25 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.87 per share. Is New 90 Day High Low • Dec 08
New 90-day high: €24.80 The company is up 15% from its price of €21.54 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.27 per share. Reported Earnings • Nov 20
Third quarter 2020 earnings released: EPS kr1.49 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: kr6.89b (up 8.5% from 3Q 2019). Net income: kr752.0m (up 19% from 3Q 2019). Profit margin: 11% (up from 10.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Nov 20
Revenue beats expectations Revenue exceeded analyst estimates by 0.8%. Over the next year, revenue is forecast to grow 5.8%, compared to a 2.8% growth forecast for the Building industry in Germany. Valuation Update With 7 Day Price Move • Nov 05
Market bids up stock over the past week After last week's 18% share price gain to kr23.57, the stock is trading at a trailing P/E ratio of 55.9x, up from the previous P/E ratio of 47.5x. This compares to an average P/E of 19x in the Building industry in Europe. Total returns to shareholders over the past three years are 192%. Is New 90 Day High Low • Oct 29
New 90-day low: €19.94 The company is down 5.0% from its price of €21.04 on 30 July 2020. The German market is also down 5.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Building industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.25 per share. Announcement • Sep 20
NIBE Industrier AB (publ) to Report Q2, 2020 Results on Aug 19, 2020 NIBE Industrier AB (publ) announced that they will report Q2, 2020 results at 8:00 AM, Central European Standard Time on Aug 19, 2020 
