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Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Extensive research

Staying cool and waiting for the heat

By Inderes
Nibe Industrier
Download report (PDF)

NIBE is well-positioned in its industry to benefit from the global shift towards sustainable energy systems. The track record of profitable growth is strong, and the company has been successful in generating value through acquisitions. Although we anticipate a substantial boost in 2023e sales due to a strong order backlog, the company may encounter hurdles in maintaining its growth momentum within the demanding global business environment.

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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.

Read more on company page

Key Estimate Figures20.09.2023

202223e24e
Revenue40,071.049,681.756,129.6
growth-%30.0 %24.0 %13.0 %
EBIT (adj.)5,764.07,886.38,676.2
EBIT-% (adj.)14.4 %15.9 %15.5 %
EPS (adj.)2.112.863.09
Dividend0.650.851.00
Dividend %0.7 %2.3 %2.8 %
P/E (adj.)46.012.711.7
EV/EBITDA27.19.07.8

Forum discussions

Here are Lucas’s comments on NIBE’s recent acquisition Inderes – 29 May 26 NIBE: Ostaa Beltramin Element-liiketoiminnan täsmähankinnalla niche...
5/29/2026, 6:09 AM
by Sijoittaja-alokas
2
Here is the company report on NIBE from Lucas following Q1. In our view, NIBE’s start to the year was strong, and the Q1 report was mostly in...
5/20/2026, 4:43 AM
by Sijoittaja-alokas
2
@lucas.mattsson has written a preview as NIBE reports its Q1 results on Tuesday, May 19th We expect the report to show a gradual but steady ...
5/13/2026, 5:18 AM
by Sijoittaja-alokas
4
Then, coincidentally, news broke that heat pump inquiries in Germany have risen by 30% since the start of the Persian Gulf situation, and at...
3/20/2026, 7:47 PM
by Hawkmountdiver
2
These days, winning stocks are rare. But as we struggle to move away from oil and natural gas, geothermal energy is a winning solution. In the...
3/20/2026, 7:29 PM
by Hawkmountdiver
4
Here are comments from Lucas regarding how German heat pump subsidy applications have grown significantly. Inderes NIBE: Saksan tukihakemukset...
2/26/2026, 10:44 AM
by Sijoittaja-alokas
1
Here are Lucas’s comments on how the German government is changing the heating law and how it may affect Nibe. Inderes NIBE: Saksan politiikan...
2/25/2026, 5:11 PM
by Sijoittaja-alokas
0