Lindab International AB :Lindab's Report for the Third Quarter 2014

Third quarter 2014:

• Sales revenue increased by 9 percent to SEK 1,904 m (1,753), an increase of 5 percent when adjusted for currency and structure.
• Operating profit (EBIT) increased to SEK 210 m (195), excluding one-off items of SEK -5 m (-30).
• The operating margin (EBIT), excluding one-off items, amounted to 11.0 percent (11.1).
• The after-tax result increased to SEK 145 m (101).
• Earnings per share increased to SEK 1.90 (1.32).
• Cash flow from operating activities amounted to SEK 153 m (136).
• The net debt-equity ratio amounted to 0.6 (0.7) at the end of the quarter.
• A new strategy and new financial targets are presented in conjunction with this interim report.

January-September 2014

• Sales revenue increased by 9 percent to SEK 5,167 m (4,737), an increase of 6 percent when adjusted for currency and structure.
• Operating profit (EBIT) increased to SEK 395 m (340), excluding one-off items of SEK -9 m (-42).
• The operating margin (EBIT), excluding one-off items, increased to 7.6 percent (7.2).
• The after-tax result increased to SEK 241 m (134).
• Earnings per share increased to SEK 3.16 (1.76).
• Cash flow from operating activities amounted to SEK 15 m (165).
  

Lindab's President and CEO, Anders Berg, commented:'

"We are continuing to build on Lindab's solid foundations and are seeing that our efforts are yielding results. The main part of our business, Products & Solutions, is showing very good sales growth in all our regions. With an increase in sales of 11 percent in the third quarter, along with a clearly improved operating margin, we are on the right track with profitable growth. During September, we reached historically high sales levels in Sweden, Norway and France. Through focused work in the area, we have also managed to reduce the number of accidents at work, and a positive trend has continued. This is of course something that we are very pleased about and is evidence of the strength of our organisation.

Despite the uncertainties in the world around us, including uncertainty in market outlook in Russia and Belarus for example, our Building Systems division, with its project sales of capital-intensive building solutions, has managed to deliver a result with an operating margin of close to 13 percent.

There are always opportunities to develop our business, especially in markets where we currently do not hold a leading position, and where we can increase our market share. We have demonstrated this in a number of instances, such as in France for Products & Solutions, and now also, very pleasingly, in Germany and Italy. We will keep this in mind as we look to the future, and with the positive effects that our new, flatter organisational structure has generated, it is now time to take a further step forward. We are already working hard to implement the first steps in our new strategy. This strategy is based on our strengths and is showing us the way towards becoming a stronger player in a larger playing field.

In connection with this, we have also updated our financial targets, which are challenging but realistic."

 
Contacts:
 
LINDAB
Anders Berg, CEO
Email: anders.berg@lindab.com
Mobile: +46 (0) 70 35 89155

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

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 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 6,523 m in 2013 and is established in 32 countries with 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 2013, the Nordic market accounted for 46 percent, the CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 24 percent, Western Europe for 27 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