Lindab International AB : Lindab's report for the third quarter 2013

Third quarter 2013

• Sales revenue was unchanged when adjusted for currency. Including currency effects, sales revenue amounted to SEK 1,753 m (1,773), which is a decrease of 1 percent.
• Operating profit (EBIT) increased to SEK 195 m (190), excluding one-off items of SEK -30 m (-7).
• The operating margin (EBIT), excluding one-off items, increased to 11.1 percent (10.7).
• The after-tax result amounted to SEK 101 m (110).
• Earnings per share amounted to SEK 1.32 (1.44).
• Cash flow from operating activities improved, totalling SEK 136 m (23).

January-September 2013

• Sales revenue decreased by 5 percent to SEK 4,737 m (4,989), a decrease of 4 percent when adjusted for currency and structure.
• Operating profit (EBIT) amounted to SEK 340 m (355), excluding one-off items of SEK -42 m (-61).
• The operating margin (EBIT), excluding one-off items, amounted to 7.2 percent (7.1).
• The after-tax result increased to SEK 134 m (120).
• Earnings per share increased to SEK 1.76 (1.58).
• Cash flow from operating activities improved, totalling SEK 165 m (30).

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

"The markets in which we operate have begun to stabilize overall and the general outlook for the European construction market during the quarter has become slightly more optimistic for the coming year, although this differs from market to market. However, we cannot ignore the fact that Lindab and our customers remain susceptible to external factors, such as the uncertain macroeconomic situation.

In the third quarter of this year, it is encouraging that the decrease in sales has levelled off. Meanwhile, we have seen a positive trend in the underlying profits, improved operating margins and stronger cash flow. These are small but important steps forward. The cost and efficiency programme has produced the desired effects and the original plans are now largely complete. The Building Systems business area, which produces and sells complete building systems under the Astron brand, showed a particularly strong quarter.

Things are moving in the right direction, but there is still a great deal to work on, develop and improve. However, we do feel that our foundations are more stable as we take another step on our journey "Back to Basics - into the Future". The organisational changes that we launched recently have been very well received both internally and externally. The new organisation means that we are focused on the Group as a whole; we have become even more agile and customer-focused, and are utilising the breadth of our entire range tailored to local markets.

The change also means that several competent employees have taken a step forward to shoulder greater responsibility. Leadership and our fabulous Lindab spirit are vitally important success factors."

 

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.

 

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 6,656 m in 2012 and is established in 31 countries with 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 2012, the Nordic market accounted for 46 percent, the CEE/CIS (Central and Eastern Europe plus 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