Lindab's report for the Second Quarter 2010
(Thomson Reuters ONE) -
April - June 2010:
* Sales revenue decreased by 6 percent to SEK 1,715 m (1,821), when adjusted
for currency and structure sales were unchanged.
* Operating profit (EBIT) increased by 13 percent to SEK 110 m (97), excluding
one-off items of SEK -21 m (-12).
* The operating margin (EBIT), excluding one-off items, amounted to 6.4
percent (5.3).
* The after-tax result amounted to SEK 27 m (13).
* Earnings per share amounted to SEK 0.36 (0.17).
* Cash flow from operating activities amounted to SEK 67 m (332).
* Updated vision, strategy and financial targets.
January - June 2010:
* Sales revenue decreased by 18 percent to SEK 2,949 m (3,592), a decrease of
13 percent when adjusted for currency and structure.
* Operating profit (EBIT) amounted to SEK 60 m (122), excluding one-off items
of SEK 54 m (-12).
* The operating margin (EBIT), excluding one-off items, amounted to 2.0
percent (3.4).
* The after-tax result amounted to SEK -1 m (-8).
* Earnings per share amounted to SEK -0.01 (-0.11).
* Cash flow from operating activities amounted to SEK -105 m (145).
* A contract concerning the sale and lease-back of property in January 2010
generated cash flow of SEK 285 m, with a capital gain of SEK 73 m.
* Acquisition of the Finnish ventilation company IVK-Tuote Oy.
Lindab's President and CEO, David Brodetsky commented:
"After a hard winter, the downward sales trend has been broken in the 2nd
quarter. However, it is still too early to determine to what extent this
reflects business that was deferred due to the winter and how much is due to a
recovery in the underlying demand. The positive signals seen in the second
quarter are primarily improved demand in residential construction, which impacts
sales in the Building Components business area in particular. Demand in the
Ventilation business area indicates a stabilisation, but the recovery has not
yet got under way. Building Systems has had a weak quarter, but the order intake
is now increasing. From a geographic perspective the Nordic region stands out
positively. The underlying demand in both Western Europe and CEE/CIS has
recovered to pre-winter levels.
Purchase prices for steel will be rising sharply in the third quarter. We will
compensate for this with increased prices, which have already been announced to
our customers.
The market outlook is largely unchanged. According to macroeconomic indicators,
the demand in Lindab's largest market segment, non-residential construction, is
predicted to remain weak in the coming year. For the residential segment, the
recovery has begun and is expected to continue in the second half of the year.
Lindab's updated strategy takes into account new market conditions, including
greater demand for environmentally friendly and energy efficient solutions, high
growth potential in Eastern Europe and Russia/CIS and other trends. Focus and
resources will be concentrated primarily on the most profitable product and
market segments where Lindab's scale, strength and position suggest the
strongest growth potential. Lindab's new vision emphasises the importance of
relations with our European customer base - To be the preferred partner for
building professionals in our core products Europewide. The new vision and the
updated strategy entail a stronger focus which will support our revised
financial targets."
End
An audiocast telephone conference will be held today at 09:00 (CET)
To access the telephone conference, please call UK +44 (0)20 7806 1968 a few
minutes before the scheduled start. Alternatively, call the Swedish number +46
(0)8 5051 3793.
The presentation slides will be published in the Investor Relations section of
the website
http://www.lindabgroup.com/English/ir/presentations/Pages/default.aspx
A recording of the conference will be published within the same section.
An interview with the CEO and CFO of Lindab will also be available as a flash
presentation on the website.
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
Nils-Johan Andersson, CFO
Email: nils-johan.andersson(at)lindab.com
Mobile:+46 (0)70 668 5075
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 7,019 m in 2009, was established in 31 countries
and had approximately 4,500 employees. The main market is non-residential
construction, which accounts for 80 percent of sales, while residential accounts
for 20 percent of sales. During 2009, the Nordic market accounted for 42
percent, CEE/CIS (Central and Eastern Europe as well as other former Soviet
states) for 21 percent, Western Europe for 32 percent and other markets for 5
percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Large Cap,
under the ticker symbol LIAB. The principal shareholders are Ratos, Sjätte
AP-fonden and Skandia Liv. For more information visit www.lindabgroup.com
[HUG#1431936]
Report for Q2 2010: http://hugin.info/1122/R/1431936/378352.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
Unternehmensinformation / Kurzprofil:
Datum: 16.07.2010 - 07:41 Uhr
Sprache: Deutsch
News-ID 24003
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Town:
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Kategorie:
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