Lindab announces restated and supplemented financial targets
(Thomson Reuters ONE) -
In light of the current economic climate, Lindab is supplementing its EBIT
target with a short term target and is rewording its growth target.
Lindab's Restated Financial targets:
* Profitability target: The long-term target of 14 percent EBIT margin
remains, but in the near term Lindab will target an EBIT margin of at least
10 percent.
* Growth target: the annual organic growth shall exceed relevant construction
market growth by 2-4 percentage points.
President and CEO David Brodetsky comments:
"The long-term EBIT target of 14 percent is still achievable under good economic
conditions, but volume recovery is required in order to reach that level, which
will probably take some years. In the current market conditions, the goal is to
adapt the cost base and optimize the business to achieve at least a 10 percent
EBIT margin in the near term. Actions are being launched, including those
separately communicated today, to support a run rate at this level before the
end of 2013."
"The previous growth target wording was set based on an expectation of a multi-
year cyclical recovery. In light of the uncertainty regarding the economic
development, this has now been restated. Lindab has been outperforming the
market and we expect this to continue with support from environmental trends as
well as strong sales activities. The new organic growth target of two to four
percentage points above the relevant construction market growth therefore
represents a realistic target."
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
David Brodetsky, CEO
Email:david.brodetsky(at)lindab.com
Mobile: +46 (0)73 274 5418
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 net sales of SEK 6,527 m in 2010, was established in 31 countries
and had 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 2010, the Nordic market accounted for 45
percent, CEE/CIS (Central and Eastern Europe as well as other former Soviet
states) for 22 percent, Western Europe for 29 percent and other markets for 4
percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap. For
more information visit www.lindabgroup.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Lindab International AB via Thomson Reuters ONE
[HUG#1576109]
Unternehmensinformation / Kurzprofil:
Datum: 10.01.2012 - 08:51 Uhr
Sprache: Deutsch
News-ID 102448
Anzahl Zeichen: 4227
contact information:
Town:
BÃ¥stad
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 212 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Lindab announces restated and supplemented financial targets"
steht unter der journalistisch-redaktionellen Verantwortung von
Lindab International AB (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
