Markaryd, Sweden, 2013-02-19 08:00 CET (GLOBE NEWSWIRE) --
“Despite the economic downturn, the year-end summary for 2012 shows that NIBE continues to report stable margins,” says Gerteric Lindquist, CEO of the NIBE Group.
“We have, however, seen a weaker second half to the year, with great variations in demand in our different markets. The Swedish market in particular has contracted, while sales in Eastern and Central Europe and in North America have been more stable.
“Our firm commitment to internationalisation through our many acquisitions, four of them in the past eight months alone, is making us less and less vulnerable to fluctuations in the market cycle. NIBE now has a presence in around 40 countries and just over 9,000 employees.
“The fact that NIBE heat pumps topped the rankings convincingly in the recent round of very extensive tests carried out by the Swedish Energy Agency also shows that our focus on advanced product development produces results and creates a platform on which we can build for continued growth in the future.
“While we wait for demand to pick up once again, we will focus on defending our margins through continual initiatives to improve productivity and by keeping a very close watch on costs,” Gerteric Lindquist concludes.
At 11:00 (C.E.T.) today, Gerteric Lindquist, MD and CEO of the NIBE Group, will hold a telephone conference (in English) for the press and financial analysts. Please phone 46(0)8 505 564 76.
Mr Benny Torstensson Information Manager: tel. +46 (0)433-73 070
Mrs Christel Fritiofsson IR Manager: tel. +46 (0)433-73 078