Lindab International AB: Euroconstruct forecasts weakening demand in 2013 before a slow recovery from 2014
(Thomson Reuters ONE) -
Euroconstruct forecasts released on 12 December 2012 predict that the buildings
segment in Europe (residential and non-residential) will have decreased by 3.8
percent in 2012 (down from 1.5% decrease in their previous forecast), followed
by a further decrease of 1.3 percent in 2013 (down from 0.7% growth in the
previous prediction). A slow recovery is predicted to start in 2014.
Lindab's President and CEO David Brodetsky, comments:
"Given the macro economic climate and declining building starts it is no
surprise that Euroconstruct has downgraded its forecasts. However, previous
Euroconstruct predictions in recent years have been slow to reflect changing and
uncertain market conditions and lack precision in predicting demand levels in
Lindab's markets.
Lindab has seen weakening demand in 2012 which accelerated in the latter part of
the third quarter and has continued into the 4(th) quarter. Lindab's Q4 2012
sales will also be affected by the harsher winter weather conditions we are
experiencing in December in several markets, mainly affecting Building
Components. For 2013 we expect a weak start given the current market conditions.
Our EBIT margins have shown steady improvement in recent quarters thanks
primarily to our cost and efficiency measures. In the light of the tough
prevailing market conditions, this focus will continue along with selected sales
initiatives to protect and improve market shares."
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 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
press release:
http://hugin.info/1122/R/1665226/540224.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#1665226]
Unternehmensinformation / Kurzprofil:
Datum: 17.12.2012 - 08:03 Uhr
Sprache: Deutsch
News-ID 213184
Anzahl Zeichen: 4049
contact information:
Town:
BÃ¥stad
Kategorie:
Business News
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"Lindab International AB: Euroconstruct forecasts weakening demand in 2013 before a slow recovery from 2014"
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