The market initially seemed to appreciate Nibe’s report, released on Friday morning. The company’s Q4 was rewarded shortly after the market opened with an increase of around 5%.
However, by Valentine’s Day afternoon, there was no love left for the heat pump company from Markaryd. By 3 pm, the decline had reached a whopping 6%.
This downturn was particularly painful for the fund managers at AMF. The pension company has several funds with significant holdings in Nibe. The most substantial holding is in the AMF Aktiefond Sverige, where the shares are worth nearly 600 million SEK. The day’s decline translates to a loss of 24 million SEK for the fund.
Similarly, Swedbank Robur has reasons to be disappointed. The Sweden Fund, managed by Jens Melander, holds 16 million shares in Gerteric Lindquist’s life’s work. After the drop, this holding is worth 728 million SEK. Fortunately, Nibe is only a small part of the portfolio, with a weight of 1.27% in the fund, which has a total managed capital of 58 billion SEK.
The fund has owned Nibe at various times since 2005 but has lost 45% of its value in its most recent investment from 2021. Friday’s decline amounts to around 46 million SEK.
CEO owns shares worth 4 billion SEK
Handelsbanken Sverige Selektiv is also heavily invested in the beloved savings favorite from Småland, with shares worth 628 million SEK.
Lannebo, Carnegie, and Cliens are also not immune to Nibe’s decline. Here, all have shares worth around a billion SEK spread across several of their funds.
The largest shareholders in Nibe are still CEO Gerteric Lindquist and the pension giant Alecta.
Lindquist owns shares worth 4.1 billion SEK.
The CEO was in good spirits on Friday morning shortly after the quarterly report was released.
“We are not accustomed to being anxious, but we approach the tasks with joy. And of course, if we have historically been able to make money within these ranges, it would be darn if we couldn’t bounce back,” he told Placera.
With the market fluctuating and investors feeling the impact of Nibe’s performance, it remains to be seen how the company will navigate these challenges and reassure its stakeholders moving forward.