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Nibe Industrier operates in the manufacturing industry and focuses on the development, manufacture and distribution of heat pumps and energy solutions. The company's products are aimed at private individuals and companies looking for energy-efficient solutions. The business is global with a main presence in Europe. Nibe Industrier was founded in 1989 and has its headquarters in Markaryd, Sweden.
Udsigt til positiv åbning i Europa efter flere dage med fald. Fokus på FOMC-mødet i aften kl. 20 dansk tid. Gæst i studiet her til morgen er Lars Jørgen Rasmussen fra Formue- og Investeringsrådgivning.
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Værktøj til at sammenligne aktier og andre populære værktøjer
Det tyske salg af varmepumper voksede 40% år-til-år i første halvdel af 2026 til 195.000 enheder, hvilket understøtter vores syn på en fortsat genopretning på det europæiske varmepumpemarked forud for NIBEs Q2-rapport.
In our view, this is a classic bolt-on acquisition that fits naturally within NIBE Element, which already designs and manufactures resistive heating elements and components for a broad range of household and commercial appliances.
We believe that NIBE delivered a solid start to the year, with the Q1 report coming in broadly in line with our expectations. While the Stoves segment remained a drag and the near-term outlook is somewhat softer than we had anticipated, the underlying organic growth and margins within the key Climate Solutions business area continued to gradually recover. In addition, European heat pump market data continues to indicate improving demand trends, supporting our estimates for a continued recovery. Medium-term valuation multiples (2026-2027: P/E 21-24x and EV/EBIT: 16-19x) are below the company’s long-term medians and appear attractive in our view. Therefore, we believe the company’s interesting long-term investment story can be accessed with a good risk/reward ratio at the current valuation, and we reiterate our Accumulate recommendation and target price of SEK 44 per share.
We expect the report to show a gradual but continued recovery in both sales volumes and margins, particularly driven by the Climate Solutions business area.
