Lindab's report for the second quarter 2013
(Thomson Reuters ONE) -
Second quarter 2013
* Sales revenue decreased by 5 percent to SEK 1,643 m (1,737), a decrease of
2 percent when adjusted for currency and structure.
* Operating profit (EBIT) amounted to SEK 132 m (135), excluding one-off
items of SEK -6 m (-16).
* The operating margin (EBIT), excluding one-off items, increased to 8.0
percent (7.8).
* The after-tax result increased to SEK 61 m (56).
* Earnings per share increased to SEK 0.80 (0.74).
* Cash flow from operating activities amounted to SEK 26 m (97).
January-June 2013
* Sales revenue decreased by 7 percent to SEK 2,984 m (3,216), a decrease of
6 percent when adjusted for currency and structure.
* Operating profit (EBIT) amounted to SEK 145 m (165), excluding one-off
items of SEK -12 m (-54).
* The operating margin (EBIT), excluding one-off items, amounted to 4.9
percent (5.1).
* The after-tax result increased to SEK 33 m (10).
* Earnings per share increased to SEK 0.43 (0.13).
* Cash flow from operating activities improved, totalling SEK 29 m (7).
Lindab's President and CEO, Anders Berg, commented:
"The markets in which we operate continue to be characterised by uncertainty
and once again the outlook for the European construction market has been
revised downward during the quarter. The most important thing for Lindab,
however, is to focus on our own business and how it can be developed to create
an offering that remains attractive to our customers regardless of the market
situation. Naturally, we are monitoring developments around us but we are
mainly focusing on our own business, which is about making our customers more
productive and successful. That is the key to our success. In order to become
even better, we conduct a thorough customer survey every year, which generally
shows strong confidence from our customers. The areas scoring most highly are
Lindab's quality and competence as well as our customer relations.
The second quarter shows continuing weaker sales relative to the previous
year. At the same time, toward the end of the quarter we saw the effects from
a number of concrete activities and projects. We have a good level of order
intake within Building Systems and elsewhere within the Group there are a
number of markets, such as Norway, Denmark and France that are indicating
growth compared with the previous year.
The operating margin improved during the quarter and the cost and efficiency
programme has generated the anticipated effects and is continuing as planned.
Many of the activities within "Back to Basics - Into the Future" are starting
to show. These include new distribution contracts in several markets, many
significant orders for major projects, continued developed "lean" initiatives
in production, sales activities in a number of new markets, and last but not
least, fewer work-related accidents.
During this, my first quarter, I have worked to create a picture of Lindab's
position in the market, our history and our performance in order to be able to
look ahead and work on finding solutions that continue to simplify
construction for our customers. We will go from being very good to even
better. We will develop the distribution and project elements of our business
and will also make our internal processes more efficient.
We have a strong and proud entrepreneurial spirit and tremendous knowledge
within the company that can contribute even more. The corporate culture, the
renowned Lindab spirit, creates value on a number of different levels. We
believe in the importance of being active and quick. This is what I mean when
I talk about "Back to Basics - Into the Future". Our values are part of
everything that we do. We will do the right things that lead to profitable
growth. We have seen many good examples during the quarter and there are even
more activities underway to accelerate our growth, efficiency and
profitability while creating job satisfaction and security for our employees."
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.
An audiocast telephone conference will be held at 09.00 a.m. (CET). The report
will be presented by Anders Berg, President and CEO, and Per Nilsson, CFO.
To access the telephone conference, please call UK +44 (0)20 3364 5373 a few
minutes before the scheduled start. Alternatively, call the Swedish number +46
(0)8 5199 9351.
The conference and presentation can also be followed live online via the link,
or via Lindab's homepage.
Contacts:
LINDAB
Anders Berg, CEO
Email: anders.berg(at)lindab.com
Mobile: +46 (0)70 35 89155
Per Nilsson, CFO
Email: per.nilsson(at)lindab.com
Mobile: +46 (0)70 33 85069
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 6,656 m in 2012 and is established in 31
countries with 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 2012, the
Nordic market accounted for 45 percent, the CEE/CIS (Central and Eastern Europe
plus other former Soviet states) for 23 percent, Western Europe for 29 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
Lindab's Q2 2013 Report:
http://hugin.info/1122/R/1716780/571058.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
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