Interim report
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 1 Q2 2026 8.7% Growth at fixed exchange rates 11.4% Operating margin CONTINUED GOOD GROWTH AND FURTHER IMPROVEMENT IN PROFITABILITY NET SALES Net sales amounted to SEK 10,849 (10,082) million GROWTH Growth amounted to 7.6% (8.7% at fixed exchange rates) OPERATING PROFIT Operating profit amounted to SEK 1,232 (944) million, corresponding to an operating margin of 11.4% (9.4%) PROFIT AFTER NET FINANCIAL ITEMS Profit after net financial items amounted to SEK 1,025 (700) million NET PROFIT Net profit amounted to SEK 753 (494) million EARNINGS PER SHARE Earnings per share before and after dilution amounted to SEK 0.37 (0.24) 2.7 times Net debt/EBITDA Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 LTM* FY* 2025 Net sales SEK m 10,849 10,082 20,499 19,755 41,585 40,841 Growth % 7.6 0.5 3.8 1.2 2.1 0.8 Operating profit SEK m 1,232 944 2,100 1,726 4,677 4,303 Operating margin % 11.4 9.4 10.2 8.7 11.2 10.5 Profit after net financial items SEK m 1,025 700 1,700 1,214 3,819 3,333 Profit margin % 9.4 6.9 8.3 6.1 9.2 8.2 Profit for the period SEK m 753 494 1,257 885 2,830 2,458 Earnings per share SEK 0.37 0.24 0.62 0.44 1.40 1.20 Net debt/EBITDA times 2.7 3.2 2.7 3.2 2.7 2.7 Equity/assets ratio % 46.8 44.0 46.8 44.0 46.8 46.6 Return on equity % 9.2 8.4 9.2 8.4 9.2 8.0 *For a detailed break-down of adjusted profit figures, see page 9.
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 2 “ SECOND QUARTER 2026 During the quarter, net sales, profitability and operating margin continued to show good growth. For the sixth consecutive quarter, we reported good underlying organic growth compared with the corresponding quarter of the previous year. In some quarters, the volatility of the Swedish krona has obscured this underlying trend, but the currency impact was less pronounced in the latest quarter. Operating profit and operating margin have similarly improved for six consecutive quarters. As previously described, we have been relatively successful in offsetting the highly unpredictable tariffs imposed by the US in two of our three business areas, while they have had a considerable negative impact on NIBE Stoves. In addition to the tariffs, the external environment is more strained than it has been for several decades, making end consumers more cautious about investing in capital goods and purchasing homes. However, we believe we are seeing some improvement in end-consumer behavior in this respect. We are also pleased to see the clear trend towards sustainable heating solutions replacing oil and gas among private consumers as well as commercial and public property owners. The main reasons for the good earnings development are strong organic growth in net sales, which in turn is based on a strong product range and broad internation - al presence, as well good cost discipline and improved productivity. The second quarter once again confirms our assessment that the traditional seasonal pattern has been re-established, with successive improvement from quarter to quarter. Accordingly, we expect a stronger second half of the year compared with the first. Over the past two and a half years, we have once again demonstrated the strength that NIBE represents. We navigated the extremely difficult market situa - tion in 2024 in a consistent and well-balanced manner and have completed both our ambitious investment program and our major initiative in continued product development. Today, we are seeing the results of this consistent teamwork. Our newly developed product ranges are hard to beat, and our well-invested fa - cilities are ready to meet the expected strong growth in demand over the coming years with high productivity and without the need for any major additional invest - ments. Combined with the good development in net sales, profitability, operating margin and cash flow, this means the organization is brimming with confidence and optimism about the future. BUSINESS AREA CLIMATE SOLUTIONS In Europe, the market for heat pumps for single-family homes with hydronic heating systems continued to develop well. The market for HVAC products for commercial properties also developed well, although the growth rate was some - what lower by comparison. In the US, demand for heat pumps for single-family homes declined as expected following the removal of tax subsidies. It is encouraging, however, that the decline was less pronounced than expected, which could indicate that end consumers are becoming more aware of the advantages of heat pumps, although from a relative - ly low initial level. Demand for HVAC equipment for commercial property remained good and, overall, the business area therefore continued to report growth in the US. The broadening and expansion of the business area’s product range presented at the Nordbygg trade fair in Stockholm in April was very well received by both Swedish and international installers. Against this background, we look forward with confidence to seeing the effects of these launches over the coming quarters. The water heater and district heating equipment segments continued to develop at a more moderate pace. The continued positive development in net sales, operating profit and operating margin strengthens our view that, for the full year, we will achieve an operating margin well within the 13–15% range, which reflects the business area’s historical - ly demonstrated operating margin capacity. When making comparisons, it should also be noted that depreciation included in operating profit will be significantly higher this year than in previous years as a result of the investments we have made. CEO GERTERIC LINDQUIST We are well positioned to meet expected growth in demand
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 3 OTHER INFORMATION In June, we entered into an agreement to acquire the business of the Italian company Beltrami, which specializes in heating solutions for commercial cof - fee machines. The acquisition was completed in July and is reported within the business area NIBE Element. The purchase price is not specified, as the acquired business constitutes only a minor part of NIBE Group. OUTLOOK FOR 2026 Our corporate philosophy and our strong range of products, with their focus on energy efficiency and sustainability are in tune with the times in which we are living. We are well prepared to continue being proactive on acquisitions. Our internal efforts to enhance efficiency, combined with investments made in our facilities and our rigorous cost-control measures, will ensure consistently healthy margins. All three business areas have a good geographical spread, which makes us less vulnerable to local downturns in demand. Our decentralized organization, based on independent units, is well prov - en and creates the conditions for greater motivation and flexibility. The effects of the current security situation around the world, exchange rate developments and price volatility in relation to different types of energy are difficult to assess. However, as is our habit, and based on experience, we remain optimistic about our own performance both in 2026 and in the longer term, although, in light of the above, the external outlook is naturally difficult to assess. Markaryd, Sweden, August 21, 2026 Gerteric Lindquist Managing Director and CEO “ Our newly developed product ranges are hard to beat BUSINESS AREA ELEMENT Like Climate Solutions, Element is developing very satisfactorily. Growth in net sales is being driven primarily by demand from the semicon - ductor and heat pump industries and by a general trend towards increased electrification. The fact that these are precisely the segments in which we have made our major investments in recent years further strengthens our confidence in the future. The market for industrial products and domestic appliances, however, re - mained subdued, largely as a result of the underlying caution associated with the many political conflicts around the world. The development in net sales, operating profit and operating margin strength - ens our view that, for the full year, we should be able to achieve an operating margin well within the 8–11% range, which reflects the business area’s histori - cally demonstrated operating margin capacity. BUSINESS AREA STOVES The stove market in Europe remained subdued, probably as a result of the political uncertainty around the world. By contrast, the market in North America remained stable. However, our three Canadian companies have been significantly affected by the tariffs introduced between the US and Canada. The tariffs introduced in 2025 have already been difficult to manage, while the new tariffs introduced at the beginning of the second quarter of this year will be challenging to offset in the short term without losing market share. Overall, however, the business area was able to achieve some organic growth during the quarter and, encouragingly, a significant improvement in operating profit and operating margin, despite all the challenges related to the tariffs. As we had already indicated in the first quarter, our ambition to return the business area to an operating margin within the 10–13% range in 2026, which reflects its historically demonstrated operating margin capacity, must now be considered very difficult to achieve, as the most recently announced tariffs will have a negative impact of approximately SEK 150 million on operating profit on an annual basis. A more realistic assessment is that the operating margin will be within the 6–8% range on an annual basis in the short term. However, in the somewhat longer term, we are convinced that we will once again achieve our historically demonstrated operating margin capacity of 10–13%.
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 4 2024 2025 2026 Quarter LT MQ2Q1Q4Q3Q2Q1Q4Q3Q2 0 2,200 4,400 PROFIT AFTER FINANCIAL ITEMS last nine quarters (SEK m) 0 1,200 2,400 2024 2025 2026 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q2 LT M0 6,000 12,000 0 46,000 23,000 NET SALES last nine quarters (SEK m) 2024 2025 2026 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q2 ADJUSTED EARNINGS PER SHARE after dilution last nine quarters (SEK) 0.00 0.25 0.50 2024 2025 2026 QuarterQ2Q1Q4Q3Q2Q1Q4Q3Q2-1,800 GROWTH last nine quarters (SEK t) 800 NET SALES AND PROFIT GROUP 29 45 7 19 NORDIC COUNTRIES EUROPE (EXCL NORDICS) NORTH AMERICA OTHER COUNTRIES GROUP SALES BY GEOGRAPHICAL REGION quarter two (%) NET SALES AND GROWTH The Group’s net sales for the quarter amounted to SEK 10.8 (10.1) billion. Overall, net sales in - creased by 7.6%. Acquisition-related net sales amounted to 0.5% and the stronger Swedish krona had a negative impact of SEK 161 million on net sales for the quarter, resulting in organic growth in net sales of 8.7% at fixed exchange rates. Year-to-date net sales amounted to SEK 20.5 (19.8) billion. Overall, net sales increased by 3.8%. Acquisition-related net sales amounted to 0.5% and the stronger Swedish krona had a negative impact of SEK 909 million on net sales, resulting in organic growth in net sales of 7.9% at fixed exchange rates. PROFIT Operating profit increased to SEK 1.2 billion (SEK 944 million), an increase of 30.5% compared with the same quarter of the previous year and 32.7% at fixed exchange rates. Operating margin was 11.4% (9.4%), positively affected by increased net sales, good cost control and improved productivity. Net financial items amounted to SEK -207 (-244) million, an improvement of SEK 37 million compared with the same quarter of the previous year, mainly due to improved net interest income. Profit after net financial items for the quarter increased to SEK 1.0 billion (SEK 700 mil - lion), an improvement of 46.4% and 49.2% at fixed exchange rates. Year-to-date operating profit increased to SEK 2.1 (1.7) billion, an increase of 21.7% compared with the same period in 2025 and 25.9% at fixed exchange rates. Operating margin was 10.2% (8.7%). Net financial items amounted to SEK -400 (-512) million, an improvement of SEK 112 million compared with the same period of the previous year. Profit after net financial items in - creased to SEK 1.7 (1.2) billion, an improvement of 40.0% and 44.4% at fixed exchange rates. Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 LTM* FY* 2025 Net sales SEK m 10,849 10,082 20,499 19,755 41,585 40,841 Growth % 7.6 0.5 3.8 1.2 2.1 0.8 of which acquisition-related % 0.5 0.2 0.5 0.2 0.7 0.2 of which currency effects % - 1.6 - 5.9 - 4.6 - 2.8 - 4.0 - 4.5 Operating profit % 1,232 944 2,100 1,726 4,677 4,303 Operating margin % 11.4 9.4 10.2 8.7 11.2 10.5 *For a detailed break-down of adjusted profit figures, see page 9.
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 5 BALANCE SHEET AND CASH FLOW 2024 2025 2026 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q2 1,450 3,200 CASH FLOW FROM OPERATING ACTIVITIES last nine quarters (SEK m) 0 2024 2025 2026 20 25 30 % Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q20 6,000 12,000 WORKING CAPITAL last nine quarters (SEK m) LT M 2024 2025 2026 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q20 11,000 22,000 NET DEBT/EBITDA last nine quarters (times) 2.5 3.0 3.5 LT M WORKING CAPITAL Working capital decreased to SEK 9.8 (9.9) billion compared with the same quarter of the previous year. Compared with the previous quarter, working capital increased by SEK 634 million, mainly due to the usual seasonal build-up of inventories. Working capital relative to net sales decreased compared with the same quarter of the previous year and amounted to 23.6% (24.3%). INVESTMENTS During the quarter, the Group invested SEK 381 (388) million in intangible assets and property, plant and equipment. The total effect on cash flow including changes in financial assets was SEK 380 (482) million. SEK 51 (0) million of the investments related to acquisitions of shares and interests in companies, while the remainder related to investments in existing operations. Excluding leases, the depreciation rate was SEK 400 million, compared with SEK 357 million in the corresponding quarter of the previous year. CAPITAL EMPLOYED Capital employed was in line with the second quarter of the previous year, at SEK 55.7 (55.7) billion. Compared with the previous quarter, capital employed increased by SEK 1.3 billion. The return on capital employed increased compared with the same quarter of the previous year and amounted to 8.9% (8.5%). CASH FLOW Compared with the same quarter of the previous year, cash flow from op - erating activities before changes in working capital increased to SEK 1.4 billion (SEK 957 million). Compared with the previous quarter, the increase was SEK 181 million. Compared with the same quarter of the previous year, cash flow after changes in working capital increased to SEK 1.1 billion (SEK 366 million). Compared with the previous quarter, the increase was SEK 586 million. FINANCIAL POSITION Net debt decreased to SEK 18 (20.2) billion compared with the same period of the previous year. Compared with the previous quarter, net debt increased by SEK 725 million. Net debt/EBITDA was 2.7 (3.2), unchanged from the previous quarter. The Group’s available cash and cash equivalents amounted to SEK 5.7 bil - lion, a decrease of SEK 289 million compared with the same quarter of the previous year and SEK 138 million compared with the previous quarter. The Group's equity/assets ratio at the end of the quarter was 46.8% (44.0%). Compared with the previous quarter, the equity/assets ratio decreased by SEK 0.5 percentage points. GROUP
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 6 ROBUST GROWTH AND PROFITABILITY NET SALES AND PROFIT NET SALES Net sales amounted to SEK 7.3 (6.8) billion, corresponding to organic growth of 7.3% including currency effects and 9.0% at fixed exchange rates. OPERATING PROFIT Operating profit amounted to SEK 1,010 (842) million, an improvement of 20% and 23.3% at fixed exchange rates. Operating margin increased to 13.8% from 12.3% in the second quarter of the previous year. MARKET • The European market for heat pumps for single-fam - ily homes developed positively during the quarter, with good growth and continued stable underlying demand from end customers. All regions in Europe showed favorable development, with a clear recov - ery in Central Europe. • In the US, we expected a decline in the heat pump segment for single-family homes as a result of the US administration’s decision to phase out the subsi - dy program. Despite some weakening, development was better than expected. Our recently launched third-party leasing offering is expected to help fur - ther mitigate the decline in the segment during the remainder of the year. GROWTH AT FIXED EXCHANGE RATES 9.0% OPERATING MARGIN 13.8% 2024 2025 2026 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q2 0 600 1,200 OPERATING PROFIT last nine quarters (SEK m) 2024 2025 2026 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q20 4,000 8,000 NET SALES last nine quarters (SEK m) business area and purchases of components from NIBE Element, has continued to improve efficiency throughout the value chain. • During the quarter, new products were launched in Europe and North America in both the single-family home and the commercial segments. The focus was on high energy efficiency, environmentally friendly refrigerants and intelligent controls for energy op - timization, as well as on broadening and expanding the product range. • Our local manufacturing in the US puts us in a good position to manage higher import tariffs while also strengthening our competitiveness against import - ed finished products. CLIMATE SOLUTIONS GOOD GROWTH IN HEAT PUMPS FOR SINGLE-FAMILY HOMES IN EUROPE STRONG DEVELOMENT IN COMMERCIAL HVAC INTENSIFIED PRODUCT LAUNCHES • The market for large heat pumps, chillers and ventilation units for commercial property devel - oped strongly during the quarter, both in Europe and North America. Development was particularly positive in the US, where growth more than offset the downturn in the single-family home segment. OPERATIONS • Despite geopolitical uncertainty, we achieved an operating margin of 13.8% in the second quarter, thanks to positive sales development and good productivity growth, combined with consistent and strict cost control. • Closer collaboration within the Group, through in - creased cross-selling of finished products within the 23 52 3 22 GEOGRAPHICAL DISTRIBUTION OF SALES quarter two (%) NORDIC COUNTRIES EUROPE (EXCL NORDICS) NORTH AMERICA OTHER COUNTRIES Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 LTM FY 2025 Net sales SEK m 7,326 6,824 13,554 12,846 27,625 26,918 Growth % 7.3 4.7 5.5 4.0 4.1 3.4 of which acquisition-related % 0.0 0.0 0.0 0.0 0.0 0.0 of which currency effects % - 1.7 - 5.4 - 4.1 - 2.8 - 3.6 - 4.2 Operating profit SEK m 1,010 842 1,653 1,397 3,749 3,493 Operating margin % 13.8 12.3 12.2 10.9 13.6 13.0 Assets SEK m 47,597 45,360 47,597 45,360 47,597 45,391 Liabilities SEK m 6,833 6,170 6,833 6,170 6,833 6,412 Investments in non-current assets SEK m 256 272 507 521 1,772 1,786 Depreciation/amortization SEK m 375 324 720 646 1,381 1,308
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 7 POSITIVE DEVELOPMENT IN THE SEMICONDUCTOR SEGMENT INCREASED DEMAND IN THE HVAC SEGMENT SUBDUED MARKET FOR DOMESTIC APPLIANCE COMPONENTS GROWING DEMAND AND IMPROVED PROFITABILITY NET SALES AND PROFIT NET SALES Net sales amounted to SEK 3.1 (2.8) billion, corresponding to organic growth of 9.8% including currency effects and 11.6% at fixed exchange rates. Acquisition-related growth amounted to 2.0%. OPERATING PROFIT Operating profit amounted to SEK 277 (184) million, an improvement of 50.5% and 49.3% at fixed exchange rates. Operating margin increased to 8.9% from 6.6% in the second quarter of the previous year. GROWTH AT FIXED EXCHANGE RATES 11.6% OPERATING MARGIN 8.9% 2024 2025 2026 0 150 300 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q2 OPERATING PROFIT last nine quarters (SEK m) 2024 2025 2026 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q20 1,750 3,500 NET SALES last nine quarters (SEK m) ELEMENT 43 31 12 14 NORDIC COUNTRIES EUROPE (EXCL NORDICS) NORTH AMERICA OTHER COUNTRIES GEOGRAPHICAL DISTRIBUTION OF SALES quarter two (%) MARKET • Demand in the semiconductor segment continued to strengthen, driven mainly by the expansion of data centers. At the same time, our continuous development of high-tech products – such as ad - vanced pedestal heaters that enable production of higher-performance semiconductors – contributed towards strengthening our position. • In the HVAC segment, demand increased for heat pumps for both single-family homes and commercial properties. Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 LTM FY 2025 Net sales SEK m 3,121 2,792 5,966 5,680 11,571 11,284 Growth % 11.8 - 1.0 5.0 2.7 2.9 1.7 of which acquisition-related % 2.0 0.6 1.6 0.5 1.3 0.7 of which currency effects % - 1.8 - 6.6 - 5.6 - 2.8 - 4.9 - 4.9 Operating profit SEK m 277 184 464 363 896 795 Operating margin % 8.9 6.6 7.8 6.4 7.7 7.0 Assets SEK m 16,650 15,428 16,650 15,428 16,650 15,180 Liabilities SEK m 2,634 2,686 2,634 2,686 2,634 2,158 Investments in non-current assets SEK m 114 96 185 168 398 381 Depreciation/amortization SEK m 171 136 341 286 675 620 • The market for solutions related to electricity gener - ation and energy storage remained good, driven by ongoing electrification. • The global market for components and solutions for domestic appliances remained subdued. OPERATIONS • Profitability improved during the quarter and the operating margin reached the business area’s well - proven operating margin range of 8–11%, as a result of intensive efforts that have improved productivity, reduced costs and increased added value. • Capacity utilization relating to the growth invest - ments made in recent years continued to increase, primarily in the HVAC and semiconductor industries, contributing to improved profitability. • The uncertain external environment has led to an increased focus on ensuring robust supply chains. With around 100 production facilities in different countries across all major markets, combined with a continued focus on efficiency improvements, we are well positioned to meet customer needs and capital - ize on new business opportunities.
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 8 STABLE DEMAND IN NORTH AMERICA SLIGHTLY IMPROVED DEMAND IN THE NORDIC COUNTRIES BUT CONTINUED WEAK DEMAND IN THE REST OF EUROPE TARIFFS BETWEEN CANADA AND THE US AFFECT EARNINGS NET SALES AND PROFIT NET SALES Net sales amounted to SEK 686 (678) million, corresponding to organic growth of 1.2% including currency effects and 1.8% at fixed exchange rates. OPERATING PROFIT Operating profit amounted to SEK -24 (-51) million, an improvement of 52.9% and 43.5% at fixed exchange rates. Operating margin improved to -3.5% from -7.5% in the second quarter of the previous year. MARKET • The market situation in the Nordic countries improved slightly compared with the previous year, although from historically low levels. Demand remained weak, particularly in Germany and France, despite volatile energy prices, which normally contribute to increased interest in stove products. Consumers in Europe generally remained cautious about investing in consumer durables. • Demand in North America remained stable in the second quarter. • The traditional seasonal pattern in the industry has once again become clear, with demand at its lowest GROWTH AT FIXED EXCHANGE RATES 1.8% OPERATING MARGIN - 3.5% 2024 2025 2026 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q20 700 1,400 NET SALES last nine quarters (SEK m) well prepared for the peak season. The long-term investments in product development, marketing and sales continued with unchanged intensity. • The more stringent tariffs between Canada and the US adversely affected earnings in the second quar - ter and, based on what we know today, their impact will increase over the next six months. To mitigate the impact while protecting our strong market position, limited extraordinary price increases have been implemented in North America ahead of the peak season. However, these will not fully offset the impact of the tariffs. Conditions can change rapidly and additional measures will require careful consid - eration. -60 30 120 2024 2025 2026 0 Quarter Q2Q1Q4Q3Q2Q1Q4Q3Q2 OPERATING PROFIT last nine quarters (SEK m) in the second quarter and normally higher demand during the latter part of the second half of the year. OPERATIONS • Operating profit improved in the quarter compared with the same period of the previous year, despite the negative impact of further increases in tariffs between Canada and the US during the quarter. The operating margin also improved, primarily as a result of previously implemented cost savings and continued good cost control. • The second quarter was characterized by product launches and customer events to ensure we are STOVES 39 37 5 20 NORDIC COUNTRIES EUROPE (EXCL NORDICS) NORTH AMERICA OTHER COUNTRIES GEOGRAPHICAL DISTRIBUTION OF SALES quarter two (%) FLUCTUATING DEMAND AND IMPACT OF TARIFFS Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 LTM FY 2025 Net sales SEK m 686 678 1,519 1,604 3,390 3,475 Growth % 1.2 - 15.4 - 5.3 - 13.5 - 6.2 - 10.1 of which acquisition-related % 0.0 0.0 0.0 0.0 0.0 0.0 of which currency effects % - 0.6 - 6.7 - 4.8 - 2.8 - 12.5 - 4.6 Operating profit SEK m - 24 - 51 12 10 146 144 Operating margin % - 3.5 - 7.5 0.8 0.6 4.3 4.1 Assets SEK m 5,956 6,106 5,956 6,106 5,956 5,946 Liabilities SEK m 604 689 604 689 604 611 Investments in non-current assets SEK m 12 19 18 48 36 66 Depreciation/amortization SEK m 53 52 105 106 209 211
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 9 * Items affecting comparability: 2025 – Negative effect of acquisition-related revaluations: SEK 178 million. 2024 – Positive effect of acquisition-related revaluations: SEK 597 million. - Action plan costs: SEK 1.095 billion (Q1) + SEK 57 million (Q4) = SEK 1.152 billion (FY). BUSINESS AREAS QUARTERLY TREND PERFORMANCE LAST NINE QUARTERS Q1 2026 Q2 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q2 2024 Q3 2024 Q4 2024 NET SALES NIBE Climate Solutions SEK m 6,228 7,326 6,022 6,824 6,722 7,350 6,516 6,502 7,185 NIBE Element SEK m 2,845 3,121 2,888 2,792 2,800 2,804 2,819 2,711 2,851 NIBE Stoves SEK m 833 686 926 678 788 1,083 802 847 1,163 Elimination of Group transactions SEK m - 256 - 284 - 163 - 212 - 224 - 237 - 102 - 93 - 174 GROUP TOTAL SEK m 9,650 10,849 9,673 10,082 10,086 11,000 10,035 9,967 11,025 OPERATING PROFIT NIBE Climate Solutions SEK m 643 1,010 555 842 940 1,156 506 726 830 NIBE Element SEK m 187 277 179 184 210 222 142 160 186 NIBE Stoves SEK m 37 - 24 61 - 51 24 110 - 3 24 95 Elimination of Group transactions SEK m 1 - 31 - 13 - 31 - 35 - 228 24 2 558 GROUP TOTAL SEK m 868 1,232 782 944 1,139 1,260 669 912 1,669 ITEMS AFFECTING COMPARABILITY* NIBE Climate Solutions SEK m 0 0 0 0 0 0 0 0 - 31 NIBE Element SEK m 0 0 0 0 0 0 0 0 - 4 NIBE Stoves SEK m 0 0 0 0 0 0 0 0 - 22 Elimination of Group transactions SEK m 0 0 0 0 0 - 178 0 0 597 GROUP TOTAL SEK m 0 0 0 0 0 - 178 0 0 540 ADJUSTED OPERATING PROFIT NIBE Climate Solutions SEK m 643 1,010 555 842 940 1,156 506 726 861 NIBE Element SEK m 187 277 179 184 210 222 142 160 190 NIBE Stoves SEK m 37 - 24 61 - 51 24 110 - 3 24 117 Elimination of Group transactions SEK m 1 - 31 - 13 - 31 - 35 - 50 24 2 - 39 GROUP TOTAL SEK m 868 1,232 782 944 1,139 1,438 669 912 1,129 ADJUSTED OPERATING MARGIN NIBE Climate Solutions % 10.3 13.8 9.2 12.3 14.0 15.7 7.8 11.2 12.0 NIBE Element % 6.6 8.9 6.2 6.6 7.5 7.9 5.0 5.9 6.7 NIBE Stoves % 4.4 - 3.5 6.6 - 7.5 3.0 10.2 - 0.4 2.8 10.2 GROUP TOTAL % 9.0 11.4 8.1 9.4 11.3 13.1 6.7 9.2 10.2
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 10 GROUP CONDENSED FINANCIAL STATEMENTS INCOME STATEMENT, SEK million Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 LTM FY 2025 Net sales 10,849 10,082 20,499 19,755 41,585 40,841 Cost of goods sold - 7,369 - 7,033 - 14,043 - 13,837 - 28,182 - 27,976 GROSS PROFIT 3,480 3,049 6,456 5,918 13,403 12,865 Selling expenses - 1,456 - 1,346 - 2,816 - 2,706 - 5,583 - 5,473 Administrative expenses - 910 - 878 - 1,781 - 1,730 - 3,780 - 3,729 Other income 118 119 241 244 459 462 OPERATING PROFIT 1,232 944 2,100 1,726 4,499 4,125 NET FINANCIAL ITEMS - 207 - 244 - 400 - 512 - 858 - 970 PROFIT AFTER NET FINANCIAL ITEMS 1,025 700 1,700 1,214 3,641 3,155 Tax - 272 - 206 - 443 - 329 - 989 - 875 NET PROFIT 753 494 1,257 885 2,652 2,280 Net profit attributable to Parent Company shareholders 751 492 1,256 884 2,649 2,277 Net profit attributable to non-controlling interests 2 2 1 1 3 3 NET PROFIT 753 494 1,257 885 2,652 2,280 Includes depreciation/amortization as follows: 598 511 1,165 1,038 2,265 2,138 Earnings per share before and after dilution, SEK 0.37 0.24 0.62 0.44 1.31 1.13 STATEMENT OF COMPREHENSIVE INCOME NET PROFIT 753 494 1,257 885 2,652 2,280 OTHER COMPREHENSIVE INCOME Items that will not be reclassified to profit or loss Actuarial gains and losses in retirement benefit plans 0 0 0 0 49 49 Tax 0 0 0 0 - 6 - 6 0 0 0 0 43 43 Items that may be reclassified to profit or loss Cash flow hedges 1 - 3 - 8 35 5 48 Hedges of net investment - 53 - 100 - 100 167 49 316 Exchange differences on translation of foreign operations 734 32 1,640 - 2,933 538 - 4,114 Tax - 17 99 - 46 175 - 114 185 665 28 1,486 - 2,556 478 - 3,565 TOTAL OTHER COMPREHENSIVE INCOME 665 28 1,486 - 2,556 520 - 3,522 TOTAL COMPREHENSIVE INCOME 1,418 522 2,743 - 1,671 3,172 - 1,242 Comprehensive income attributable to Parent Company shareholders 1,415 510 2,739 - 1,672 3,171 - 1,240 Comprehensive income attributable to non-controlling interests 3 12 4 1 1 - 2 TOTAL COMPREHENSIVE INCOME 1,418 522 2,743 - 1,671 3,172 - 1,242
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 11 GROUP CONDENSED FINANCIAL STATEMENTS BALANCE SHEET, SEK million Jun 30 2026 Jun 30 2025 Dec 31 2025 Intangible assets 30,592 30,067 29,483 Property, plant and equipment 13,161 12,687 12,416 Financial assets 1,569 1,708 1,505 TOTAL NON-CURRENT ASSETS 45,322 44,462 43,404 Inventories 9,825 9,931 9,167 Current receivables 8,594 7,868 7,026 Investments in securities, etc. 571 416 675 Cash and cash equivalents 4,793 5,207 4,783 TOTAL CURRENT ASSETS 23,783 23,422 21,651 TOTAL ASSETS 69,105 67,884 65,055 Equity 32,326 29,863 30,290 Non-current liabilities and provisions – non-interest-bearing 4,814 4,327 4,685 – interest-bearing 18,111 17,195 16,129 Current liabilities and provisions – non-interest-bearing 8,624 7,886 7,523 – interest-bearing 5,230 8,613 6,428 TOTAL EQUITY AND LIABILITIES 69,105 67,884 65,055 CASH FLOW STATEMENT, SEK million Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 FY 2025 Cash flow before change in working capital 1,428 957 2,675 1,615 4,192 Change in working capital - 303 - 591 - 1,010 - 1,006 696 CASH FLOW FROM OPERATING ACTIVITIES 1,125 366 1,665 609 4,888 Investments in existing operations - 329 - 482 - 545 - 1,101 - 2,000 OPERATING CASH FLOW 796 - 116 1,120 - 492 2,888 Acquisitions - 51 – - 51 – - 943 Disposals – – – – – CASH FLOW AFTER INVESTMENTS 745 - 116 1,069 - 492 1,945 Financing - 246 1,785 - 635 1,539 - 886 Dividends paid - 706 - 606 - 706 - 606 - 606 CASH FLOW FOR THE PERIOD - 207 1,063 - 272 441 453 Cash and cash equivalents at beginning of period 5,506 4,639 5,458 5,607 5,607 Exchange difference in cash and cash equivalents 65 - 79 + 178 - 425 - 602 CASH AND CASH EQUIVALENTS AT END OF PERIOD 5,364 5,623 5,364 5,623 5,458
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 12 CONDENSED STATEMENT OF CHANGES IN EQUITY, SEK million Jun 30 2026 Mar 31 2026 Dec 31 2025 Sep 30 2025 Jun 30 2025 Opening equity 30,290 30,290 32,140 32,140 32,140 Dividends to shareholders - 706 0 - 605 - 605 - 605 Dividends to non-controlling interests - 1 - 1 - 1 - 1 - 1 Change in non-controlling interests 0 0 - 2 0 0 Comprehensive income for the period 2,743 1,325 - 1,242 - 1,380 - 1,671 CLOSING EQUITY 32,326 31,614 30,290 30,154 29,863 TIMING OF REVENUE RECOGNITION, SEK million NIBE CLIMATE SOLUTIONS NIBE ELEMENT NIBE STOVES ELIMINATIONS TOTAL Quarter 2 Deliverables recognized as revenue at a point in time 7,200 2,945 686 - 284 10,547 Deliverables recognized as revenue over time 126 176 0 0 302 TOTAL 7,326 3,121 686 - 284 10,849 SERVICE CONTRACTS For certain products in Climate Solutions, NIBE offers customers the opportunity to sign one-year service contracts, under which NIBE undertakes to perform maintenance service and remedy certain defects that are not covered by the warranty provided. As the scope of defects cannot be reliably predicted, pricing is based on experience. Payment is received from customers annually in advance, so deferred income will be recognized as revenue gradually over the coming 12-month period. SALES BY GEOGRAPHICAL REGION, SEK million NIBE CLIMATE SOLUTIONS NIBE ELEMENT NIBE STOVES ELIMINATIONS TOTAL Quarter 2 Nordic countries 1,611 437 137 - 197 1,988 Europe excl. Nordic countries 3,799 960 251 - 76 4,934 North America 1,679 1,344 266 - 12 3,277 Other countries 237 380 32 1 650 TOTAL 7,326 3,121 686 - 284 10,849 EXTENDED WARRANTY PERIOD CONTRACTS For certain products in Climate Solutions, NIBE offers customers the opportunity to sign contracts for warranty peri - ods that exceed those provided as standard. Standard warranty periods depend both on the type of product and the market in question. The longest contracts expire within six years. As the scope of defects cannot be reliably predicted, pricing is based on experience. Payment is received from customers on delivery of goods. Deferred income will be rec - ognized as revenue gradually over the coming six-year period. Quarters 1–2 Deliverables recognized as revenue at a point in time 13,293 5,627 1,519 - 540 19,899 Deliverables recognized as revenue over time 261 339 0 0 600 TOTAL 13,554 5,966 1,519 - 540 20,499 Quarters 1–2 Nordic countries 3,038 857 301 - 368 3,828 Europe excl. Nordic countries 6,999 1,869 592 - 154 9,306 North America 3,115 2,527 575 - 18 6,199 Other countries 402 713 51 0 1,166 TOTAL 13,554 5,966 1,519 - 540 20,499
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 13 GROUP KEY RATIOS KEY RATIOS Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 FY 2025 Growth % 7.6 0.5 3.8 1.2 0.8 Operating profit SEK m 1,232 944 2,100 1,726 4,125 Operating profit excl. items affecting comparability SEK m 1,232 944 2,100 1,726 4,303 Operating margin % 11.4 9.4 10.2 8.7 10.1 Operating margin excl. items affecting comparability % 11.4 9.4 10.2 8.7 10.5 Profit margin % 9.4 6.9 8.3 6.1 7.7 Profit margin excl. items affecting comparability % 9.4 6.9 8.3 6.1 8.2 Investments in non-current assets SEK m 391 482 607 1,101 2,262 Available cash and cash equivalents SEK m 5,744 6,033 5,744 6,033 5,877 Interest-bearing liabilities/Equity % 72.2 86.4 72.2 86.4 74.5 Equity/assets ratio % 46.8 44.0 46.8 44.0 46.6 Interest coverage ratio times 3.4 3.5 3.8 2.7 3.4 Interest coverage ratio excl. items affecting comparability times 3.4 3.5 3.8 2.7 3.5 Working capital excl. cash and bank balances relative to net sales LTM SEK m 9,795 9,913 9,795 9,913 8,670 Working capital excl. cash and bank balances relative to net sales LTM % 23.6 24.3 23.6 24.3 21.2 Working capital incl. cash and bank balances relative to net sales LTM SEK m 15,159 15,536 15,159 15,536 14,128 Working capital incl. cash and bank balances relative to net sales LTM % 36.5 38.1 36.5 38.1 34.6 Return on capital employed % 8.9 8.5 8.9 8.5 8.2 Return on capital employed excl. items affecting comparability % 9.3 7.5 9.3 7.5 8.5 Return on equity % 9.2 8.4 9.2 8.4 8.0 Return on equity excl. items affecting comparability % 9.7 7.0 9.7 7.0 8.5 Net debt/EBITDA times 2.7 3.2 2.7 3.2 2.7 Net debt/EBITDA excl. items affecting comparability times 2.7 3.5 2.7 3.5 2.7 DATA PER SHARE Earnings per share (total 2,016,066,488 shares) SEK 0.37 0.24 0.62 0.44 1.13 Earnings per share excl. acquisition-related revaluations SEK 0.37 0.24 0.62 0.44 1.20 Equity per share SEK 16.02 14.79 16.02 14.79 15.01 Closing day share price SEK 36.02 40.34 36.02 40.34 35.62
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 14 OPERATING MARGIN EXCL. ITEMS AFFECTING COMPARABILITY, SEK million Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 FY 2025 Operating profit 1,232 944 2,100 1,726 4,125 Items affecting comparability – – – – 178 Operating profit excl. items affecting comparability 1,232 944 2,100 1,726 4,303 Net sales 10,849 10,082 20,499 19,755 40,841 OPERATING MARGIN, % 11.4 9.4 10.2 8.7 10.1 OPERATING MARGIN, % excl. items affecting comparability 11.4 9.4 10.2 8.7 10.5 AL TERNATIVE PERFORMANCE MEASURES PROFIT MARGIN EXCL. ITEMS AFFECTING COMPARABILITY, SEK million Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 FY 2025 Operating profit after net financial items 1,025 700 1,700 1,214 3,155 Items affecting comparability – – – – 178 Operating profit excl. items affecting comparability 1,025 700 1,700 1,214 3,333 Net sales 10,849 10,082 20,499 19,755 40,841 PROFIT MARGIN, % 9.4 6.9 8.3 6.1 7.7 PROFIT MARGIN, % excl. items affecting comparability 9.4 6.9 8.3 6.1 8.2 INTEREST COVERAGE RATIO, SEK million Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 FY 2025 Profit after net financial items 1,025 700 1,700 1,214 3,155 Financial expenses 302 282 611 727 1,328 Profit before financial expenses 1,327 982 2,311 1,941 4,483 Items affecting comparability – – – – 178 Profit excl. items affecting comparability 1,327 982 2,311 1,941 4,661 INTEREST COVERAGE RATIO, TIMES 3.4 3.5 3.8 2.7 3.4 INTEREST COVERAGE RATIO EXCL. ITEMS AFFECTING COMPARABILITY, TIMES 3.4 3.5 3.8 2.7 3.5 EARNINGS PER SHARE EXCL. ITEMS AFFECTING COMPARABILITY, SEK million Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 FY 2025 Earnings per share excl. items affecting comparability 751 493 1,256 885 2,277 Items affecting comparability – – – – 141 NET PROFIT EXCL. ITEMS AFFECTING COMPARABILITY 751 493 1,256 885 2,418 EARNINGS PER SHARE EXCL. ITEMS AFFECTING COMPARABILITY 0.37 0.24 0.62 0.44 1.20 NET INVESTMENTS IN NON-CURRENT ASSETS, SEK million Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 FY 2025 Acquisition of non-current assets 402 502 655 1,140 2,356 Disposal of non-current assets - 11 - 20 - 48 - 39 - 94 NET INVESTMENTS IN NON-CURRENT ASSETS 391 482 607 1,101 2,262 Alternative performance measures are financial measures used by the company’s management and by investors to evaluate the Group’s financial performance and position using calculations that cannot be directly derived from the financial statements. The alternative performance measures presented in this report may be calculated differently from similar measures used by other companies.
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 15 NET DEBT/EBITDA, SEK million Jun 30 2026 Mar 31 2026 Dec 31 2025 Sep 30 2025 Jun 30 2025 Non-current liabilities and provisions , interest-bearing 18,111 16,465 16,129 17,025 17,195 Current liabilities and provisions, interest-bearing 5,230 6,293 6,428 6,886 8,613 Cash and bank balances - 4,793 - 4,668 - 4,783 - 4,167 - 5,207 Investments in securities, etc. - 570 - 839 - 675 - 537 - 416 Net debt 17,978 17,251 17,099 19,207 20,185 Operating profit 4,499 4,211 4,125 4,534 4,307 Depreciation, amortization and impairment 2,279 2,186 2,145 2,034 1,973 EBITDA 6,778 6,397 6,270 6,568 6,280 Items affecting comparability – – 178 - 540 - 540 EBITDA excl. items affecting comparability 6,778 6,397 6,448 6,028 5,740 NET DEBT/EBITDA, TIMES 2.7 2.7 2.7 2.9 3.2 NET DEBT/EBITDA EXCL. ITEMS AFFECTING COMPARABILITY, TIMES 2.7 2.7 2.7 3.2 3.5 AL TERNATIVE PERFORMANCE MEASURES WORKING CAPITAL INCL. CASH AND BANK BALANCES, SEK million Jun 30 2026 Mar 31 2026 Dec 31 2025 Sep 30 2025 Jun 30 2025 Total current assets 23,783 22,442 21,651 22,460 23,422 Current liabilities and provisions, non-interest-bearing - 8,624 - 7,775 - 7,523 - 7,953 - 7,886 WORKING CAPITAL INCL. CASH AND BANK BALANCES 15,159 14,667 14,128 14,507 15,536 Net sales, LTM 41,585 40,818 40,841 40,866 40,747 WORKING CAPITAL INCL. CASH AND BANK BALANCES RELATIVE TO NET SALES, % 36.5 35.9 34.6 35.5 38.1 AVAILABLE CASH AND CASH EQUIVALENTS, SEK million Jun 30 2026 Mar 31 2026 Dec 31 2025 Sep 30 2025 Jun 30 2025 Cash and bank balances 4,793 4,668 4,783 4,167 5,207 Investments in securities, etc. 571 838 675 537 416 Unutilized overdraft facilities 380 376 419 415 410 AVAILABLE CASH AND CASH EQUIVALENTS 5,744 5,882 5,877 5,119 6,033 WORKING CAPITAL EXCL. CASH AND BANK BALANCES, SEK million Jun 30 2026 Mar 31 2026 Dec 31 2025 Sep 30 2025 Jun 30 2025 Inventories 9,825 9,498 9,167 9,761 9,931 Current receivables 8,594 7,437 7,026 7,995 7,868 Current liabilities and provisions, non-interest-bearing - 8,624 - 7,775 - 7,523 - 7,953 - 7,886 WORKING CAPITAL EXCL. CASH AND BANK BALANCES 9,795 9,160 8,670 9,803 9,913 Net sales, LTM 41,585 40,818 40,841 40,866 40,747 WORKING CAPITAL EXCL. CASH AND BANK BALANCES RELATIVE TO NET SALES, % 23.6 22.4 21.2 24.0 24.3
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 16 RETURN ON CAPITAL EMPLOYED, SEK million Jun 30 2026 Mar 31 2026 Dec 31 2025 Sep 30 2025 Jun 30 2025 Profit after net financial items, LTM 3,641 3,316 3,155 3,545 3,265 Financial expenses, LTM 1,212 1,192 1,328 1,460 1,518 Profit before financial expenses 5,032 4,508 4,483 5,005 4,783 Items affecting comparability 178 178 178 - 540 - 540 Profit excl. items affecting comparability 5,032 4,686 4,661 4,465 4,243 Capital employed at start of period 52,847 52,847 56,851 56,851 56,851 Capital employed at end of period 55,667 54,372 52,847 54,064 55,671 Average capital employed 54,257 53,609 54,849 55,458 56,261 RETURN ON CAPITAL EMPLOYED, % 8.9 8.4 8.2 9.0 8.5 RETURN ON CAPITAL EMPLOYED EXCL. ITEMS AFFECTING COMPARABILITY, % 9.3 8.7 8.5 8.0 7.5 AL TERNATIVE PERFORMANCE MEASURES RETURN ON EQUITY, SEK million Jun 30 2026 Mar 31 2026 Dec 31 2025 Sep 30 2025 Jun 30 2025 Profit after net financial items, LTM 3,641 3,316 3,155 3,545 3,265 Standard tax rate, % 20.6 20,6 20.6 20.6 20.6 Profit after net financial items, after tax 2,891 2,633 2,505 2,815 2,595 Items affecting comparability 178 178 178 - 540 - 540 Profit excl. items affecting comparability 3,819 3,494 3,333 3,005 2,725 Profit after net financial items, after tax 3,032 2,774 2,646 2,386 2,164 Of which attributable to Parent Company shareholders 3,029 2,771 2,643 2,387 2,167 Equity at start of period 30,253 30,253 32,098 32,098 32,098 Equity at end of period 32,289 31,578 30,253 30,118 29,825 Average equity 31,271 30,916 31,176 31,108 30,962 RETURN ON EQUITY, % 9.2 8.5 8.0 9.1 8.4 RETURN ON EQUITY EXCL. ITEMS AFFECTING COMPARABILITY, % 9.7 9.0 8.5 7.7 7.0
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 17 THE PARENT COMPANY The Parent Company’s activities comprise Group management, certain shared Group functions and financing. Net sales for the period amounted to SEK 20 (17) million and profit after financial items was SEK 82 (1,118) million. The difference in earnings was pri - marily due to currency effects. INCOME STATEMENT, SEK million Q2 2026 Q2 2025 Q1-2 2026 Q1-2 2025 FY 2025 Net sales 21 19 50 41 69 Cost of goods sold 0 0 0 0 0 GROSS PROFIT 21 19 50 41 69 Selling expenses 0 0 0 0 0 Administrative expenses - 47 - 55 - 96 - 101 - 239 Other income 0 0 0 0 3 OPERATING PROFIT - 26 - 36 - 46 - 60 - 167 NET FINANCIAL ITEMS 290 1,105 128 1,178 954 PROFIT AFTER NET FINANCIAL ITEMS 264 1,069 82 1,118 787 Tax - 2 - 4 1 - 4 - 11 NET PROFIT 262 1,065 83 1,114 776 BALANCE SHEET, SEK million Jun 30 2026 Jun 30 2025 Dec 31 2025 Intangible assets 0 0 0 Property, plant and equipment 0 0 0 Financial assets 24,600 28,162 25,162 TOTAL NON-CURRENT ASSETS 24,600 28,162 25,162 Inventories 0 0 0 Current receivables 166 361 107 Investments in securities, etc. 0 0 0 Cash and cash equivalents 1 1 19 TOTAL CURRENT ASSETS 167 362 126 TOTAL ASSETS 24,767 28,524 25,288 Equity 7,800 8,761 8,422 Non-current liabilities and provisions – non-interest-bearing 717 1,090 698 – interest-bearing 13,320 12,785 11,852 Current liabilities and provisions – non-interest-bearing 482 88 518 – interest-bearing 2,448 5,800 3,798 TOTAL EQUITY AND LIABILITIES 24,767 28,524 25,288
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 18 ACCOUNTING POLICIES The interim report provides a fair review of the business, financial position and results of the Parent Company and the Group and describes the principal risks and uncertainties facing the Parent Com - pany and the companies in the Group. Markaryd, Sweden, August 21, 2026 Hans Linnarson Chairman of the Board James Ahrgren Board member Camilla Ekdahl Board member Henrik Elmin Board member Gerteric Lindquist Managing Director and CEO Anders Pålsson Board member Eva Thunholm Board member This information is information that NIBE Industrier AB (publ) is required to disclose pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication by the persons set out below on August 21, 2026 at 8:00 AM CEST. For further information, please contact: Gerteric Lindquist, Managing Director and CEO, gerteric.lindquist@nibe.se Hans Backman, CFO, hans.backman@nibe.se To register for NIBE’s conference call on the Interim Report for Q2 2026, please visit www.nibegroup.com The information in this report has not been reviewed by the company’s auditors. For further information on definitions, please refer to the company’s 2025 Annual Report. CALENDAR AUGUST 21, 2026 Interim report 2, January – June 2026 NOVEMBER 17, 2026 Interim report 3, January – September 202 6 NIBE Industrier’s consolidated financial statements are prepared in accordance with IFRS Accounting Standards, as endorsed by the EU. NIBE Industrier’s interim report for the second quarter of 2026 has been prepared in accordance with IAS 34 Interim Financial Reporting. Disclosures in accordance with IAS 34 16A are presented in the financial statements and related notes as well as in other parts of the interim report. For the Group, the accounting policies applied in this report are the same as those described on pages 140–175 of the 2025 Annual Report. The Parent Company has prepared its financial statements in accordance with the Swedish Annual Accounts Act and RFR 2 Accounting for Legal Entities. Related party transactions were at the same level as in the previous year, and the accounting policies de - scribed on page 141 of the 2025 Annual Report continue to apply. Amounts are presented in SEK million and SEK billion, unless otherwise stated. Any differences between reported amounts, subtotals, totals and calculated key ratios may be due to rounding. RISKS AND UNCERTAINTIES NIBE Industrier is an international industrial group that is represented in around 40 countries. As such, it is exposed to several business and financial risks. Risk management is therefore an important process in relation to the established goals. Within the Group, effective risk management is an ongo - ing process conducted as part of operational management and forms a natural part of the continuous monitoring of operations. It is our opinion that no significant risks or uncertainties have arisen in addi - tion to those described in NIBE Industrier’s 2025 Annual Report. BOARD APPROVAL OF INTERIM REPORT
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INTERIM REPORT 2 2026 • NIBE INDUSTRIER AB 19 NIBE’s class B shares are listed on the NASDAQ Nordic Large Cap list in Stockholm, with a secondary listing on the SIX Swiss Exchange in Zurich. The NIBE share’s clos - ing price on June 30, 2026 was SEK 36.02. During the first six months, NIBE’s share price rose by 1.1%, from SEK 35.62 to SEK 36.02. In the same period, the OMX Stockholm PI (OMXSPI) increased by 5.4% and the OMX Stockholm 30 (OMXS30) by 11.1%. At the end of June 2026, NIBE’s market capitalization, based on the last traded share price, amounted to SEK 72,619 million. A total of 1,122,274,547 NIBE shares were traded, corresponding to a share turnover of 55.7% in the first half of 2026. All figures have been restated to reflect the 4:1 share splits carried out in 2003, 2006, 2016 and May 2021, and the dilutive effect of the rights issue in October 2016. 202620252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997 0 30 60 90 120 Number of shares traded per trading day in thousands Share price, SEK Volume May 2020: 85,745,784 Issue price 16/06/1997 SEK 0.27 Share price 30/06/2026 SEK 36.02 25,000 50,000 0 THE NIBE SHARE NIBE GROUP – AN INTERNATIONAL GROUP WITH COMPANIES AND A PRESENCE WORLDWIDE NIBE Group is an international Group that contributes to a reduced carbon footprint and better utilization of energy. In our three business areas – Climate Solutions, Element and Stoves – we develop, manufacture and market a wide range of environmentally-friendly, energy-efficient solutions for indoor climate comfort in all types of properties, plus components and solutions for intelligent heating and control in industry and infrastructure. Since its beginnings in the town of Markaryd in the Swedish province of Småland more than 70 years ago, NIBE has grown into an international company with an average of 20,500 (20,600) employees and an international presence. From the very start, the company has been driven by a strong culture of entrepreneurship and a passion for corporate responsibility. Its success factors are long-term investments in sustainable product development and strategic acquisitions. The Group’s sales in 2025 amounted to just over SEK 40 (40) billion. NIBE has been listed under the name NIBE Industrier AB on the Nasdaq Nordic Large Cap list since 1997, with a secondary listing on the SIX Swiss Exchange since 2011.