Brief: Nibe Q2 Net Sales SEK 10.85 Bln
BRIEF-Nibe Q2 Net Sales SEK 10.85 Bln Aug 21 (Reuters) - Nibe Industrier AB (publ) NIBEb.ST:
Q2 NET SALES AMOUNTED TO SEK 10,849 (10,082) MILLION
Q2 OPERATING PROFIT AMOUNTED TO SEK 1,232 (944) MILLION, CORRESPONDING TO AN OPERATING MARGIN OF 11.4% (9.4%)
DURING THE QUARTER, NET SALES, PROFITABILITY AND OPERATING MARGIN CONTINUED TO SHOW GOOD GROWTH.
IN EUROPE, THE MARKET FOR HEAT PUMPS FOR SINGLE-FAMILY HOMES WITH HYDRONIC HEATING SYSTEMS CONTINUED TO DEVELOP WELL.
IN THE US, DEMAND FOR HEAT PUMPS FOR SINGLE-FAMILY HOMES DECLINED
SEES FOR THE FULL YEAR, WILL ACHIEVE AN OPERATING MARGIN WELL WITHIN THE 13–15% RANGE
RELATIVELY SUCCESSFUL IN OFFSETTING THE HIGHLY UNPREDICTABLE TARIFFS IMPOSED BY THE US IN TWO OF OUR THREE BUSINESS AREAS
TARIFFS HAVE HAD A CONSIDERABLE NEGATIVE IMPACT ON NIBE STOVES
END CONSUMERS MORE CAUTIOUS ABOUT INVESTING IN CAPITAL GOODS AND PURCHASING HOMES
SEEING SOME IMPROVEMENT IN END-CONSUMER BEHAVIOR
Source text: ID:nMFN6fHmPy
Further company coverage: [NIBEb.ST]
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