Q4 beat driven by core biz lifts Nibe shares

Nibe Industrier AB

15/02/2023 09:10

** Shares in Nibe Industrier  NIBEb.ST  rise 3.5% after the
Swedish heating technology specialist publishes Q4 results above
expectations
    ** Nibe posts Q4 operating profit of 1.89 billion Swedish
crowns ($181.67 million), above the 1.60 billion seen in
Refinitiv poll
        ** Douglas Lindahl from DNB Markets calls Nibe's Q4
print a "strong report" and says results are driven by the
group's core business area Climate Solutions, which shows record
margins, according to the analyst
    ** Nibe says it achieved its sales target of 40 billion
crowns by 2025 and announced a new one of 80 billion, which
Lindahl says meets expectations
    ** The company proposes to increase dividend to 0.65 crowns
per share, compared to 0.50 crowns last year
    ** Nibe is among top performers on the pan-European STOXX
600  .STOXX  index 
($1 = 10.4032 Swedish crowns)
 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@tr.com))