Lindab's report for the the Second Quarter 2012

April-June 2012

• Sales revenue decreased by 1 percent to SEK 1,737 m (1,755), a decrease of 5 percent when adjusted for currency and structure.
• Operating profit (EBIT) amounted to SEK 135 m (135), excluding one-off items of SEK -16 m (0).
• The operating margin (EBIT), excluding one-off items, amounted to 7.8 percent (7.7).
• The after-tax result amounted to SEK 56 m (60).
• Earnings per share amounted to SEK 0.74 (0.80).
• Cash flow from operating activities amounted to SEK 97 m (217).

January - June 2012

• Sales revenue increased by 3 percent to SEK 3,216 m (3,132), an increase of 1 percent when adjusted for currency and structure.
• Operating profit (EBIT) amounted to SEK 165 m (128), excluding one-off items of SEK -54 m (-17).
• The operating margin (EBIT), excluding one-off items, amounted to 5.1 percent (4.1).
• The after-tax result amounted to SEK 10 m (8).
• Earnings per share amounted to SEK 0.13 (0.11).
• Cash flow from operating activities amounted to SEK 7 m (-22).

Lindab's President and CEO, David Brodetsky commented: 

For the second quarter 2012 Lindab reports an improved operating margin as a result of intensive cost focus and improving gross profit margins in spite of lower sales and steel cost increases. Of particular note was the strong improvement in Building Systems performance. Ventilation also improved its EBIT margin whereas Building Components was affected by weak sales momentum in most markets.

We were pleased to secure the acquisition of Centrum Klima, Poland, during the quarter. This acquisition gives us a leading position in Ventilation in Poland, which is the largest and strongest performing market in CEE. Additionally, Centrum Klima will bring strong synergies through consolidation of production and purchasing which will strengthen the whole Ventilation Business area.

The markets are expected to remain weak in the months ahead. However, Lindab's performance will be supported by the accelerating impact of the SEK 150 million cost saving plan that is now largely implemented. Longer term, the macro economic forecasts indicate that construction recovery will be slow and drawn out, which underlines the importance of continuing our own initiatives to support the 2014 EBIT goal of 10 percent for the Group.



 

End

Contacts:

LINDAB

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

Per Nilsson, CFO
Email: per.nilsson@lindab.com
Mobile: +46 (0)70 33 85069

An audiocast telephone conference will be held at 08:30 (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 7750 9950 a few minutes before the scheduled start. Alternatively, call the Swedish number +46 (0) 8 5056 2932.

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