NIBE Industrier AB (publ) Q4 2024 Earnings Call Transcript

NIBE Industrier AB (publ) (OTCPK:NDRBF) Q4 2024 Earnings Conference Call February 14, 2025 5:00 AM ET

Company Participants

Eric Lindquist – Managing Director and Chief Executive Officer
Hans Backman – Chief Financial Officer

Conference Call Participants

Carl Deijenberg – Carnegie
Vivek Midha – Citi
Douglas Lindahl – DNB Bank Markets
Carl Ragnerstam – Nordea
Uma Samlin – Bank of America
Christian Hinderaker – Goldman Sachs
Viktor Trollsten – Danske
Gustav Schwerin – Handelsbanken

Operator

Welcome to the NIBE Q4 presentation for 2024. During the question-and-answer session, participants are able to ask questions by dialing star five on their telephone key pad.

Now I will hand the conference over to CEO, Eric Lindquist; and CFO, Hans Backman. Please go ahead.

Eric Lindquist

Thank you very much. Good morning, everyone, out there.

Hans Backman

Good morning.

Eric Lindquist

And we’re going to follow the same procedure as usual. We have a number of slides we are going to go through, and then we open up for questions, of course. And as usual, we have until noon, and we would appreciate if there would be only two questions per individual, to allow as many as possible to put questions to us,

With that said, let’s start into the first slide. And which is very much a summary of what you’ve seen in the report, of course. It’s a year characterized, we say, of several challenges. I mean, we were hit with a very, very slow market in the beginning of the year. But as the year has been rolling on, we’ve also seen clear signs of improvements.

And the market has not totally recovered, of course. But we’re looking at a combination of clear signs and still some cautiousness out there. And the last quarter is really confirming what we’ve said all along, that as the year