Lindab's Report for the First Quarter 2011
January - March 2011
- Sales revenue increased by 12 percent to SEK 1,377 m (1,234), an increase of 19 percent when adjusted for currency and structure.
- Operating profit (EBIT) amounted to SEK -7 m (-50), excluding one-off items of SEK -17 m (75).
- The operating margin (EBIT), excluding one-off items, amounted to -0.5 percent (-4.1).
- The after-tax result amounted to SEK -52 m (-28), including one-off items of SEK -17 m (75).
- Earnings per share amounted to SEK -0.69 (-0.37), including one-off items.
- Cash flow from operating activities amounted to SEK -239 m (-172)
Lindab's President and CEO, David Brodetsky commented:
"In the first quarter sales and operating profit (EBIT) improved for the third successive quarter confirming the positive trend.
The sales growth of 19 percent in the quarter is satisfying, however, the underlying demand is hard to judge since the first quarter is low season and, in addition, the comparative quarter last year was strongly affected by the weather conditions.
In the interim report for the fourth quarter 2010 we indicated that it is unlikely that Lindab's organic growth target of 8 percent will be achieved for the full year 2011. This was based on external market growth forecasts and excludes price effects in 2011 to compensate for rising steel prices. The underlying market conditions have not changed since then and steel linked price movements are difficult to predict, consequently we maintain our outlook for the full year 2011. However, as stated before, we expect to outperform the general construction market."
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.
- 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, acting CFO.
- To access the telephone conference, please call UK +44 (0)20 7806 1967 a few minutes before the scheduled start. Alternatively, call the Swedish number +46 (0)8 5051 3643.
- The conference and presentation can also be followed live online via the link, or via Lindab's homepage
Financial calendar 2011:
Annual General Meeting, 11 May
Interim Report Q2, 18 July
Interim Report Q3, 25 October
Contact:
LINDAB
David Brodetsky, CEO
Email: david.brodetsky@lindab.com
Mobile: +46 (0)73 274 5418
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, under the ticker symbol LIAB. The principal shareholders are Ratos, Sjätte AP-fonden and Skandia Liv. For more information visit www.lindabgroup.com