Lindab's Report for the First Quarter 2008
- Net sales increased by 8 % to SEK 2,129 m (1,972)
- Operating profit (EBIT) increased by 12 % to SEK 207 m (185)
- Operating margin (EBIT) increased to 9.7 % (9.4)
- After tax profit amounted to SEK 117 m (112)
- Diluted earnings per share amounted to SEK 1.49 (1.42)
- Cash-flow from operating activities amounted to SEK 9 m (-157)
"The progress in Lindab remains good," says Lindab's CEO Kjell Åkesson. "We have seen good volume growth combined with efficient cost control during the quarter."
Lindab reports that net sales for the first quarter 2008 reached SEK 2,129 million (1,972) with a profit (EBIT) of SEK 207 million, an increase of 12 percent compared with the same period last year.
"Growth remains strong and is at the level of our estimates," says Kjell Åkesson. "As we said in our Q4 report, we are counting on a slightly lower market growth for this year, around 5 percent for 2008, compared with around 7 percent last year. Winter has been mild in most markets, which has led to a good level of construction activities, in line with expectations. The number of working days was reduced compared to the same period last year due to early Easter. Furthermore, we can affirm that April also has had good sales growth," says Kjell Åkesson.
The cashflow, which is normally weaker during the first quarter, has improved considerably as a result of the strong operating profit and reduced tied-up working capital.
All regions continue to develop well. Net sales in the Nordic region increased by 8 percent, in the CEE/CIS net sales increased by 12 percent, and in Western Europe it increased by 6 percent, excluding the acquisition of Aervent the increase was 2 percent.
"As we announced earlier today, we have entered into an agreement regarding an important acquisition in Slovakia. The company, Sipog, generated net sales of EUR 37 m and an operating profit of EUR 4.7 m last year and will become part of our Building Components Division. Sipog is also well established in Romania and the Czech Republic. This means that we reinforce our already strong position in the CEE/CIS market and ensure continued good profitability for the future," says Kjell Åkesson.
End
The information here is that which Lindab International AB has willingly chosen to make public or that which it is obliged to make
public according to the laws for Stock Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act.
Contacts:
LINDAB
Kjell Åkesson, CEO
Email: kjell.akesson@lindab.com
Tel. +46 (0)431 850 00 / 850 07
Mobile: +46 (0)70 618 50 07
Nils-Johan Andersson, CFO
Tel. +46 (0)431 85075
Mobile: +46 (0)70 66 85075
About Lindab:
Lindab is an international group that develops, manufactures and markets sheet metal products and system solutions for the construction sector.
The two business areas, Profile and Ventilation offer complete solutions for construction systems and indoor climate, as well as individual construction and ventilation components for all types of buildings.
Lindab is listed on the Stockholm Stock Exchange, Nordic Large Cap under the ticker "LIAB".
The Lindab group has approximately 5,000 employees in 30 countries and generated sales of SEK 9,280 million in 2007. Its head office is located in Grevie near Bastad in southwestern Sweden. For more information visit www.lindabgroup.com