Lindab's report for the First Quarter 2012

January - March 2012

• Sales revenue increased by 7 percent to SEK 1,479 m (1,377), an increase of 6 percent when adjusted for currency and structure.
• Operating profit (EBIT) amounted to SEK 30 m (-7), excluding one-off items of SEK -38 m (-17).
• The operating margin (EBIT), excluding one-off items, amounted to 2.0 percent (-0.5).
• The after-tax result amounted to SEK -46 m (-52).
• Earnings per share amounted to SEK -0.61  (-0.69).
• Cash flow from operating activities amounted to SEK -90 m (-239).

             
             
Lindab's President and CEO, David Brodetsky commented:

"It was a good quarter overall. The first quarter, which is a low winter season for Lindab, was characterised by sales growth of 7 percent compared with the first quarter of 2011, stable fixed costs and a strong improvement in EBIT from SEK -7 m in the first quarter last year to SEK 30 m this quarter.

The market outlook remains uncertain and it is difficult to draw conclusions from a low season period. The volume increase in the quarter mainly came from the Nordic markets and Russia. Growth in Western Europe was positive but at a decreasing pace, whilst Central and Eastern European markets declined.

Nevertheless, our 2012 performance will benefit from a number of strategic sales initiatives and the cost saving programme of SEK 150 million, which will be substantially implemented by the end of the second quarter. Additionally, price increases are being implemented to offset steel and other cost increases. Overall we expect 2012 to be a further step in the right direction taking the underlying EBIT towards our 10 percent goal by the end of 2013 and for the full year 2014.

Finally, we are pleased that we were able to complete the acquisition of Plannja's sandwich panel business in Sweden. Sandwich panels is a growing segment in the market and this acquisition complements our existing Nordic industrial offering within the Building Components Business Area."

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 10:00 (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