Swedish heat pump maker NIBE Industrier reported a significant rebound in profit for the first nine months of the year, driven by improved productivity and cost controls as it navigates global trade challenges.
The company posted a profit after tax of 1.5 billion Swedish kronor for the period, compared to a loss of 212 million kronor a year earlier.
Operating profit more than doubled to 2.87 billion kronor, while sales saw a slight increase to 29.84 billion kronor, according to the company.
The results signal a continued recovery for the company, which initiated a major cost-cutting program last year amid a market downturn.
NIBE said it is increasingly focusing on localizing its production and suppliers to mitigate the impact of political turbulence and changing tariffs.
"Our strategy of pursuing regionbased manufacturing, with primarily region-based subcontractors, is also creating more secure supply chains and reducing vulnerability to trade barriers," the company said in a statement.
The company noted continued improvement in demand for its Climate Solutions products in Europe, while its Stoves business remained its weakest performer.
NIBE said it expects a clear return to organic growth and a sharp increase in operating profit for the full year 2025.
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