NIBE Industrier AB (OTCPK:NDRBF) Q1 2025 Results Conference Call May 15, 2025 5:00 AM ET
Company Participants
Eric Lindquist – Managing Director and Chief Executive Officer
Hans Backman – Chief Financial Officer
Conference Call Participants
Christian Hinderaker – Goldman Sachs
Carl Deijenberg – Carnegie
Carl Ragnerstam – Nordea
Vivek Midha – Citi
Karl Bokvist – ABG Sundal Collier
Brijesh Siya – HSBC
Viktor Trollsten – Danske
Axel Stasse – MS
Fredrik Agardh – SEB
Gustaf Schwerin – Handelsbanken
Eric Lindquist
Thank you very much. Good morning, everyone out there. Good morning. Good morning. It’s a gorgeous day here in Markaryd, Graduation day, we call it, when we have the Annual Shareholders Meeting later on today. So we’ll use our regular pattern. We start to go through the report, Hans and I, and then we allow for questions. And due to all other things that we have to participate and carry out today, we would appreciate if we could stop around noon. So that gives us an hour in total
Hans Backman
And limiting the questions to two per person.
Eric Lindquist
Yes. That’s right. Thank you, Hans. And the headline we would like to say is pretty much in line with our own expectations. That’s Q1. And there is signs of recovery in somewhat, of course, still cautious market. But already at the end of Q4 last year, we saw a change and that continues, and that fills us with positivism, of course. Our action program is in place, and that makes us return to a more traditional seasonal pattern as well because now the large orders that we had for years, they are pretty much gone, and now it’s back to ordinary pattern. And what’s also very pleasing is that the inventories in the distribution chain, they have come down. We call it more acceptable levels rather than saying that they are ideal levels. We can’t really judge that. But
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