Nibe Falls As It Flags One: off gains in Q3, dampening margin beat

Nibe Industrier AB

15/11/2024 12:47

** Shares in NIBE  NIEBb.ST  fall more than 5% after the
Swedish heat pump maker told investors during a conference call
that its better-than-expected Q3 margin included one-off gains 
    ** They rose as much as 10.2% in early trading, but quickly
reversed course and remained volatile until the call at 11:00
local time
    ** "NIBE mentioned some SEK60m in extraordinary gains in
EBIT in Q3 which means that underlying margin was 8.6% vs
reported 9.2%," Pareto analysts Anders Roslund says
    ** He adds this was still better than consensus, but not as
good as the brokerage had first thought
    ** NIBE's Q3 organic sales fell 15% yoy, below Pareto's
expectations, while its EBIT came 14% ahead of consensus, as
cited by the broker

($1 = 10.9654 Swedish crowns)

 (Reporting by Agnieszka Olenska)
 ((Agnieszka.Olenska@thomsonreuters.com;))