NIBE Industrier AB (publ) (NIBEB) Earnings Call Transcripts

NIBE Industrier AB (publ)'s Latest Earnings Call - Q1 FY2026

In the first quarter of fiscal year 2026, NIBE Industrier AB reported revenue of SEK 9.65 billion, reflecting organic growth of 7% year-over-year, while operating margin improved to 9% from 8.1% in the previous year. Management expressed confidence in achieving full-year operating margins between 13% and 15%, despite challenges in the Stoves segment due to increased tariffs and cautious consumer spending. The company maintained a solid balance sheet with net debt to EBITDA at 2.7%, indicating financial stability amidst market uncertainties.

Reported metrics

Guidance from management

Management maintained full-year guidance for operating margins in the Climate Solutions segment between 13% and 15%, despite challenges in the Stoves segment. They expect continued organic growth driven by demand for heat pumps.

What management said

Well, we don't look at it like that. Of course, you can't really take away your organization. You have the organization you have. And we don't adjust spending on marketing and sales and R&D depending on quarter. That has a steady course. And of course, if you divide that evenly over quarters, of course, then with the lesser sales relatively seen, you have -- you get a lower margin. I think that's the only immediate i...

I think you're ahead of me math-wise here. I don't see that the growth in the first quarter would be -- raise any eyebrows. So perhaps I'm behind you there in your analysis. We typically know that the first quarter is relatively seen not as strong. And that's the only thing I can say. And I would have been -- had I had another answer, I could give you. I think that's a very plain one. Unless you have a math analysis ...

What analysts pressed on

Analysts expressed concerns about the impact of geopolitical tensions on consumer spending, especially in the Stoves segment. There were also questions regarding the sustainability of margin improvements in the Climate Solutions segment amidst rising costs.

Main topics on the call

• Operating Margin Improvement — NIBE reported an operating margin of 9% for Q1 2026, up from 8.1% a year ago. CEO Gerteric Lindquist stated, "we are bold enough to say that now we are there to make money on the historical levels again," indicating conf...
• Challenges in Stoves Segment — The Stoves segment faced significant headwinds from increased tariffs and consumer reluctance to spend. Lindquist noted, "the tariffs... are coinciding also with consumer reluctance when it comes to investing in Stoves,"...
• Confidence in Climate Solutions — The Climate Solutions segment showed strong demand, with organic growth of 10.3%. Management is optimistic about achieving operating margins between 13% and 15% for the full year, citing a return to traditional seasonal ...
• Cash Flow and Financial Stability — Operating cash flow nearly doubled year-over-year, reaching SEK 324 million. CFO Hans Backman highlighted, "we have a pretty good cash on hand," indicating strong liquidity for potential acquisitions.

Read the full NIBE Industrier AB (publ) transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 23 NIBE Industrier AB (publ) earnings call transcripts on record, spanning February 13, 2020 to May 19, 2026. Based on this history, NIBE Industrier AB (publ) reports quarterly. The most recent call on file is dated May 19, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

NIBEB

Exchange

OM

Country

SE

Sector

Industrials

Industry

Building Products

Calls on record

23

First call

February 13, 2020

Most recent

May 19, 2026

Reporting cadence

quarterly