NIBE GROUP
Strategic focus areas
A long-term approach
Responsible approach for long-term success
Since our beginnings more than 70 years ago, we have created a global Group and a presence worldwide as well as a solid platform for further expansion with profitability. Clear shared values and longterm ownership are behind the continuity and stability in the Group.
Innovative products from the start
An intensive era of acquisitions
The development of innovative products has been fundamental right from the start. The manufacture of the tubular element, which was a new, easily applicable heating component for households and industry, began back in 1949 and laid the foundation for today’s NIBE Element business area. The manufacture of NIBE’s water heaters began in 1952, the same year a law was passed requiring milk producers to have hot water in their milking parlours. With innovative product development based on this platform, our very first heat pump was introduced in 1981. This was then further developed into the NIBE Climate Solutions business area. NIBE won a sub-contract to manufacture stoves under the Handöl brand in 1965, and Handöl’s entire operations were subsequently acquired. This was the start of establishing the NIBE Stoves business area.
Good results combined with a stock market listing and the opportunities for access to the fresh capital this provided created the conditions for an intensive era of acquisitions and development into a global group.
Committed, innovative leaders Committed, innovative founders and leaders have been a key cornerstone in NIBE’s stable expansion and solid financial development. The Bernerup family, landowners from Scania, founded the two companies Backer Electro-Värme AB and NIBE-Verken AB, and from the initials in Nils Bernerup’s first and last names the company name NIBE was born. With two external operational managers, the family ran the companies for 40 successful years. When the family decided to sell both companies in 1989, several employees and two external investors formed NIBE Industrier AB and acquired all operations. At the same time, Gerteric Lindquist was appointed Managing Director and CEO. To allow for further expansion and to broaden ownership, a new share issue was implemented in 1997 and in connection with this NIBE Industrier AB was listed on the Stockholm Stock Exchange.
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The acquisitions today make us: •
a leading European heat pump supplier and market leader in North America in heat pumps, both for single-family homes and commercial properties.
•
one of the world-leading element suppliers, with many new product groups and a strong local presence in a great number of countries around the world.
•
a European market leader in stoves, with a stable platform in North America for stoves.
A stable platform for the future With our focus on sustainable energy solutions, stable growth with profitability and a market-oriented decentralised organisation guided by NIBE’s objectives and management philosophy, we believe that we have created a stable platform for the future. Together with continued good organic growth, good acquisition opportunities, solid finances and stable ownership, this builds a solid foundation for the continued sustainable development of our business.
NIBE INDUSTRIER AB ANNUAL REPORT 2021
