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2016-11-17

NIBE INDUSTRIER AB: Continued good performance and successful rights issue

NIBE Industrier AB
Interim report

Continued good performance and successful rights issue

Today's interim report from NIBE shows an increase in both sales and profit.

Markaryd, Sweden, 2016-11-17 08:00 CET (GLOBE NEWSWIRE) --
-- Sales rose by 10.2% to SEK 10,478 million (SEK 9,511 million)
-- Operating profit rose by 15.9% to SEK 1,313 million (SEK 1,133 million)
-- Profit after net financial items rose by 15.0% to SEK 1,217 million (SEK
1,058 million)
-- Earnings per share before and after dilution were SEK 2.04 (SEK 1.84)
-- Several strategic acquisitions in Canada, the US, England, Italy and Sweden
-- New share issue in October injected SEK 3,024 million before issue expenses

“The first three quarters of 2016 have been positive with improved market share
and strong operating margins in all three business areas,” said Gerteric
Lindquist, CEO of NIBE.

“With the acquisition of US company Climate Control Group in the summer and
Swedish company Air-Site in the spring as well as the conditional agreement on
partial acquisition of British company Enertech Group in October, NIBE Climate
Solutions has been significantly strengthened.

“NIBE Element continues to have an operating margin well above 10% on a rolling
12-month basis and has strengthened its competitiveness, particularly in the
commercial and industrial customer segment through the acquisitions of US
company Heatron Inc., Italian company ATE Electronics and most recently
American company Omni Control Technology Inc.

“Due to the acquisition of Canadian company FPI Fireplace Products
International Ltd., which was announced today, the NIBE Stoves business area
now has a platform in the North American market, which really seems like a good
fit. FPI is one of the leading players in our industry in North America and has
a complete range of stove products for gas, wood and pellets.

“The successful rights issue that was carried out in October has injected
equity of just over SEK 3 billion, allowing for a continued aggressive
acquisition strategy.

“Constant efforts with productivity improvements, product development and
marketing continue unabated and have contributed significantly to improving
margins.

“Our business philosophy and strong product programme with a focus on
sustainability and energy efficiency is timely. Profitability is stable and
we’re well prepared for offensive acquisitions. The impact of economic trends,
currency concerns, low energy prices and the growing political turmoil in many
parts of the world is difficult to predict, but we are cautiously optimistic
about the year as a whole,” said Lindquist.

Press information

A teleconference (in English on +46 8 566 426 97) will be held for the press
and analysts today at 11.00 CET with CEO Gerteric Lindquist and CFO Hans
Backman.

NOTE: You must be registered at www.nibe.com to view the images for the
presentation.

Benny Torstensson CIO: +46 (0)433-73 070

Christel Fritiofsson Investor Relations: +46 (0)433-73
078

NIBE Industrier AB is required to disclose the information in this press
release under the Market Abuse Regulation and NASDAQ Stockholm’s rules and
regulations for issuers. The information was submitted by Benny Torstensson for
publication on 17 November 2016 at 08.00.

About NIBE Industrier

NIBE – a global group with operations and sales on five continents.

NIBE is a global group that helps make the world more sustainable through its
solutions for indoor climate and comfort and its components and solutions for
measurement, control and electrical heating. NIBE has more than 60 years of
experience manufacturing products intended for both household and commercial
use. NIBE has grown from its beginnings in southern Sweden to having operations
and sales on five continents.

NIBE has developed a culture of entrepreneurship and a passion for running
businesses. Investments in sustainable product development and acquisitions
have helped the NIBE Group expand significantly – sales exceeded SEK 13 billion
in 2015. Operations are conducted within three business areas – NIBE Climate
Solutions, NIBE Element and NIBE Stoves – with more than 11,000 employees in
Europe, North America, Asia and Australia.

NIBE has been listed under the name NIBE Industrier on the NASDAQ OMX Stockholm
Exchange, Large Cap list, since 1997, with a secondary listing on the SIX Swiss
Exchange since 2011.

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