NIBE Industrier AB (publ) (NDRBF) Q2 2023 Earnings Call Transcript


NIBE Industrier AB (publ) (OTCPK:NDRBF) Q2 2023 Earnings Conference Call August 17, 2023 5:00 AM ET

Company Participants

Eric Lindquist – CEO

Hans Backman – CFO

Conference Call Participants

Karl Bokvist – ABG Sundal Collier

Douglas Lindahl – DNB Markets

Viktor Trollsten – Danske Bank

Carl Ragnerstam – Nordea

Christian Hinderaker – Goldman Sachs

Axel Stasse – Morgan Stanley

Operator

Ladies and gentlemen, welcome to the NIBE Q2 Report. At our customers’ request, this conference will be recorded. [Operator Instructions]

May I now hand you over to Eric Lindquist, CEO; and Hans Backman, CFO. Please go ahead.

Eric Lindquist

Thank you very much. Good morning or good afternoon, or good evening wherever you are in the world.

Hans Backman

Yes. Hello, everyone. Hans here as well.

Eric Lindquist

Very nice to have you on board. And we’re going to follow the usual procedure by going through numbers and a few comments, and then we have the M&A session. And today, as usual, we have another gathering with the TV set around noon. So we have just about an hour to go through all this. So if we just start with some general comments, and of course, you read the headline, we believe it’s fairly strong first half year.

And since Climate Solutions is so dominating, we can say that within most market segments, it’s been a very good growth and also within the segments within Element that’s related, there’s been a very good growth. And of course, on the Stoves side, it’s very much the wood burning that’s been showing the best growth since pellet stoves has been hindered by tremendous price increases coming down, however, on pellets for instance.

And to cope with the coming, as we see it, growth, we are engaged in a pretty massive investment program, both here in Sweden



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *