Lindab's report for the the Fourth Quarter and Full Year 2011
(Thomson Reuters ONE) -
October - December 2011
* Sales revenue increased by 9 percent to SEK 1,855 m (1,697), an increase of
10 percent when adjusted for currency and structure.
* Operating profit (EBIT) amounted to SEK 107 m (75), excluding one-off items
of SEK -42 m (-110).
* The operating margin (EBIT), excluding one-off items, amounted to 5.8
percent (4.4).
* The after-tax result amounted to SEK -5 m (-86).
* Earnings per share amounted to SEK -0.07 (-1.14).
* Cash flow from operating activities amounted to SEK 252 m (324).
January - December 2011
* Sales revenue increased by 5 percent to SEK 6,878 m (6,527), an increase of
9 percent when adjusted for currency and structure.
* Operating profit (EBIT) amounted to SEK 407 m (347), excluding one-off items
of SEK -59 m (-63).
* The operating margin (EBIT), excluding one-off items, amounted to 5.9
percent (5.3).
* The after-tax result amounted to SEK 91 m (27).
* Earnings per share amounted to SEK 1.21 (0.36).
* Cash flow from operating activities amounted to SEK 345 m (391).
* Proposed dividend of SEK 1.00 (1.00).
Lindab's President and CEO, David Brodetsky commented:
"Overall it was a good quarter. The organic sales growth in the quarter was high
(10 percent) and EBIT grew 43 percent from SEK 75 million to SEK 107 million,
excluding one-off costs.
The volume increase, which is the main reason for the growth in EBIT, was
supported by continued good momentum in several markets as well as the mild
winter weather. The Nordic region had high growth with Sweden, Denmark and
Norway all performing strongly. In Western Europe, Lindab's major markets the
UK and Germany contributed well whilst in CEE/CIS, Russia and Belarus were
particularly strong. For the year as a whole, thanks to selective sales
initiatives and in spite of challenging economic conditions, we increased market
shares in many countries. This contributed to the full year organic sales growth
of 9 percent in spite of an almost flat underlying market.
Our business is late cyclical and no signs of changing demand due to the Euro
crisis have been experienced so far. Demand in Q1 2012 will be more affected by
the winter weather than by the current market uncertainty.
Spot prices for steel started to rise in December and are likely to continue
upwards in the coming months. We will now start to adjust our sales prices
accordingly to compensate.
In early January we announced a new near term EBIT target of 10 percent with the
goal of achieving this run rate before the end of 2013 and for the full year
2014. At the same time, we also announced a SEK 150 m cost reduction programme,
particularly targeting lower performance markets, which will support the near
term 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
Per Nilsson, CFO
Email:per.nilsson(at)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) 2071 086 303 a few
minutes before the scheduled start. Alternatively, call the Swedish number + 46
(0) 850 562 932.
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
Year-end report:
http://hugin.info/1122/R/1584834/496121.pdf
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#1584834]
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