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Nibe Industrier (NIBE) investor relations material
Nibe Industrier Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary22 Aug, 2025
Executive summary
Q2 2025 marked a continued recovery, with sales for the first half reaching SEK 19,755 million, up 1.2% year-over-year, and organic growth of 1.0%.
Operating profit surged to SEK 1,726 million from SEK 90 million, with adjusted operating profit at SEK 1,726 million (up from SEK 1,185 million).
The ambition remains to return to historical operating margin levels, despite ongoing uncertainties from tariffs and currency effects.
Earnings per share improved to SEK 0.44 from SEK -0.32, with adjusted EPS at SEK 0.44 (up from SEK 0.13).
Profit after tax was SEK 885 million, a significant turnaround from a loss of SEK -645 million in the prior year.
Financial highlights
Combined revenue for the first two quarters approached SEK 20 billion, with an operating margin of 8.7%.
Rolling twelve-month operating margin reached 9.2%, and Q2 alone saw a 9.4% margin and SEK 944 million in operating profit.
Gross margin and net profit per share improved significantly year-over-year.
Cash flow from operating activities before working capital changes was SEK 1,615 million, up from SEK 721 million.
Available cash and cash equivalents at period end were SEK 6,033 million.
Outlook and guidance
Management expects a stronger second half of 2025, aiming to return to historical operating margin ranges across all business areas.
Lower interest rates and normalized inventory levels are expected to stimulate demand.
The external environment remains uncertain due to geopolitical risks, energy price volatility, and currency effects.
CapEx is expected to decrease gradually, returning to maintenance levels by 2026.
How will BAs achieve historical operating margins?
What is the impact of tariffs on BA margins?
What is the strategy for future capacity needs?
How will M&A contribute to 10+10 growth target?
What are the key drivers of Stoves' Q2 operating loss?
Climate Solutions: Strategy for growing cooling business
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Next Nibe Industrier earnings date
Q3 202514 Nov, 2025
Next Nibe Industrier earnings date
Q3 202514 Nov, 2025
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Frequently asked questions
NIBE Industrier AB engages in the development, manufacture, marketing, and sale of residential and commercial heating equipment. It offers heat pumps, ventilation products and air conditioning systems; climate control systems; water heaters; PV panels; domestic boilers; commercial washing machines; and tumble dryers for homes, apartment blocks, and commercial properties. NIBE Industrier AB was founded in 1949 and is headquartered in Markaryd, Sweden.
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