NIBE Industrier AB ser. B

NIBE Industrier AB reported its sixth consecutive quarter of revenue and profit growth, with organic growth of 7.6% for the second quarter. Operating margin improved considerably year-over-year, reaching 12.2% on a rolling 12-month basis, while Q2 operating margin hit 13.8%, within the company's 13-15% target range. Climate Solutions net sales rose to SEK 7.3 billion from SEK 6.8 billion, with 9% organic growth, and operating profit increased 20%. Element net sales climbed to SEK 3.1 billion from SEK 2.8 billion, with 11.6% organic growth and operating margin up to 8.9% from 6.6%. Stoves net sales edged up to SEK 686 million from SEK 678 million, with 1.8% organic growth, and its operating loss was cut in half. Operating cash flow in Q2 was close to SEK 800 million, up from minus SEK 100 million a year ago, and net debt to EBITDA stood at 2.65, expected to decline to around 2.0-2.1 during the year.