Lindab announces cost-saving plan of SEK 150 million
(Thomson Reuters ONE) -
Lindab is announcing a cost-saving plan estimated to save approximately SEK 150
million on annual basis. The plan will be rolled out between now and mid-2012
and includes a headcount reduction of approximately 250 as well as operating
cost reductions. The one-off costs relating to the programme amount to
approximately SEK 110 m and will be recorded up to Q2, 2012.
President and CEO David Brodetsky comments:
"We have been outperforming the market growth and gaining market share during a
difficult 2011, but the recovery is slower and will take longer than expected.
We need to continue to adapt our business, improve efficiency and reduce our
fixed costs to improve our performance. Implementing job cuts is always
regrettable, but with no significant upturn in sight in the short term, we have
to act and make sure that we improve our competitiveness. In parallel, we will
continue to strengthen our positions in our core products in line with our
strategy.
The cost-saving plan will contribute with over SEK 100 m to our EBIT on an
annualised basis even after compensating for inflation and for costs related to
new sales growth activities. It is an important step in improving the underlying
profitability of the business and supports the new short-term financial target
of reaching an EBIT of at least 10 percent."
End
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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.
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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#1576102]
Unternehmensinformation / Kurzprofil:
Datum: 10.01.2012 - 08:52 Uhr
Sprache: Deutsch
News-ID 102449
Anzahl Zeichen: 3955
contact information:
Town:
BÃ¥stad
Kategorie:
Business News
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