Lindab International AB :Euroconstruct forecasts have been revised downwards compared to November 2011
Euroconstruct forecasts released on 15 June 2012 predict that the buildings segment in Europe (residential and non-residential) will decrease by 1.5 percent in 2012 (down from 0.2 percent growth in the November report) and increase by 0.7 percent in 2013, (down from 2.2 percent increase previously).
Lindab's sales to the markets covered by Euroconstruct represent around 85 percent of Lindab's total sales. The Lindab markets not covered by Euroconstruct are primarily Russia and Romania. After adjusting Euroconstruct's forecasts to take account of Lindab's geographical mix, segment exposure and late cyclicality, the underlying market is predicted to decrease by approximately 0.5 percent in 2012 (down from 1 percent growth) and show approximately 0.5 percent growth for 2013 (down from 2 percent growth). The main downward revisions affecting Lindab concern the Swedish market, particularly the residential segment, and the CEE markets.
Lindab's President and CEO David Brodetsky, comments:
"Due to the European macro-economic situation with loss of momentum in many economies, it is no surprise that Euroconstruct has downgraded its forecasts. The latest forecasts point to a gradually improving underlying demand from 2013. The flatter market expectations underline the importance of continuing our own initiatives to support the 2014 EBIT goal of 10 percent for the Group."
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| 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. |
Contacts:
LINDAB
David Brodetsky, CEO
Email: david.brodetsky@lindab.com
Mobile: +46 (0)73 274 5418
Notes to the editor:
Euroconstruct is an independent forecasting organisation for the construction industry that covers 19 countries in the Nordic region, Western Europe and Central-Eastern Europe.
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 sales revenue of SEK 6,878 m in 2011, was established in 31 countries and had approximately 4,300 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2011, the Nordic market accounted for 46 percent, CEE/CIS (Central and Eastern Europe as well as other former Soviet states) for 23 percent, Western Europe for 28 percent and other markets for 3 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap. For more information visit www.lindabgroup.com