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Nov 22 2024 17:29

233.00 SEK5.00

Lindab's Report for the Second Quarter

 April - June 2011

  • Sales revenue increased by 2 percent to SEK 1,755 m (1,715), an increase of 8 percent when adjusted for currency and structure. 

  • Operating profit (EBIT) amounted to SEK 135 m (110), excluding one-off items of
    SEK 0 m (-21). 

  • The operating margin (EBIT), excluding one-off items, amounted to 7.7 percent (6.4). 

  • The after-tax result amounted to SEK 60 m (27). 

  • Earnings per share amounted to SEK 0.80 (0.36). 

  • Cash flow from operating activities amounted to SEK 217 m (67).

     

January - June 2011

  • Sales revenue increased by 6 percent to SEK 3,132 m (2,949), an increase of 12 percent when adjusted for currency and structure. 

  • Operating profit (EBIT) amounted to SEK 128 m (60), excluding one-off items of SEK -17 m (54). 

  • The operating margin (EBIT), excluding one-off items, amounted to 4.1 percent (2.0). 

  • The after-tax result amounted to SEK 8 m (-1). 

  • Earnings per share amounted to SEK 0.11 (-0.01). 

  • Cash flow from operating activities amounted to SEK -22 m (-105). 


Lindab's President and CEO, David Brodetsky commented:

"The second quarter 2011 was another step in the right direction for Lindab. We are pleased to report improved sales for the 4th successive quarter and improved EBIT for the 5th successive quarter confirming the continued recovery of our business. However, our operating margin of 7.7 percent has been affected by increasing price pressure and some higher costs linked to the roll-out of our new strategy.

In total, the first half year saw organic growth of 12 percent primarily due to strong Nordic markets as well as an improvement in Building Systems sales particularly in CEE/CIS. Considering our good growth in the first 6 months of the year, the 8 percent organic growth target for 2011 now seems more achievable. However, the underlying demand remains uncertain, particularly in light of the current Euro-crisis that has led to lower business confidence.

External market forecasts point to a growing recovery for our key segment, non-residential construction, in 2012 and gaining pace in 2013. In order to ensure that we take full advantage of this, we remain focused on our strategy for profitable growth. During the quarter, we have carried out activities to reinforce distribution within both Ventilation and Building Systems, and continue to strengthen our residential programme within Building Components."

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 Swedish Securities Market Act and/or the Financial Instruments Trading Act.

Contact:

LINDAB
David Brodetsky, CEO
Email: david.brodetsky@lindab.com
Mobile: +46 (0)73 274 5418

  • An audiocast telephone conference will be held at 10:00 (CET). The report will be presented by David Brodetsky, President and CEO, and Per Nilsson, CFO. 

  • To access the telephone conference, please call UK +44 (0)20 7136 2052 a few minutes before the scheduled start. Alternatively, call the Swedish number +46 (0)8 5051 3785. 

  • The conference and presentation can also be followed live online via the link, or via Lindab's homepage. 

  • A presentation including comments by CEO David Brodetsky and CFO Per Nilsson will be published in Flash format on the homepage in connection with the report.  



Lindab - A Ventilation and Building Products company:

Lindab develops, manufactures, markets and distributes products and system solutions primarily in steel for simplified construction and improved indoor climate.

The business is carried out within three business areas, Ventilation, Building Components and Building Systems. The products are characterised by their high quality, ease of assembly, energy efficiency, consideration towards the environment, and are delivered with high levels of service. Altogether, this increases customer value.

The Group had net sales of SEK 6,527 m in 2010, was established in 31 countries and had approximately 4,400 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2010, the Nordic market accounted for 45 percent, CEE/CIS (Central and Eastern Europe as well as other former Soviet states) for 22 percent, Western Europe for 29 percent and other markets for 4 percent of total sales.

The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap. For more information visit www.lindabgroup.com

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