Lindab's Report for the Second Quarter 2009>
Lindab's Report for the Second Quarter 2009
(Thomson Reuters ONE) - April - June 2009 * Net sales decreased by 29 % to SEK 1,821 m (2,567), adjusted for currency and structure the decrease was 37 % * Operating profit (EBIT), excluding one-off items of SEK 12 m, decreased by 76 % to SEK 97 m (396) * Operating margin (EBIT), excluding one-off items, was 5.3 % (15.4) * Result after tax was SEK 13 m (266) * Earnings per share amounted to SEK 0.17 (3.38) * Cash-flow from operating activities amounted to SEK 332 m (317) * A new cost and efficiency programme of SEK 200 m savings has been decidedJanuary - June 2009* Net sales decreased by 24 % to SEK 3,592 m (4,696)* Operating profit (EBIT), excluding one-off items of SEK 12 m, decreased by 80 % to SEK 122 m (603)* Operating margin (EBIT), excluding one-off items, decreased to 3.4 % (12.8)* Result after tax amounted to SEK - 8 m (383).* Earnings per share amounted to SEK - 0.11 (4.87)* Cash-flow from operating activities amounted to SEK 145 m (326)* Goal to reduce working capital by SEK 400 m, according to planLindab's President and CEO, David Brodetsky commented:"The continued decline in sales in the second quarter has led us totake additional cost and efficiency measures in order to save afurther SEK 200 m annually. The new programme will be implementedduring the third quarter and entails SEK 70 m in one-off costs. Thisincludes the recently announced closure of a Building Systems factoryin Hungary.""With the current level of demand, staffing cutbacks are inevitable,but wherever possible we are implementing short-time working insteadof redundancies, since we believe that this is in the best interestof both employees and the employer in these difficult times.""Regarding cash flow, the increased focus on capital efficiency hasresulted in a very good development of working capital in thequarter.""Market visibility is still very low, but we expect tough marketconditions to continue for this year and next. There are, however,some signs that demand in Nordic and CEE are starting to level off,while it appears that the decline in Western Europe is continuing."EndThe information here is that which Lindab International AB haswillingly chosen to make public or that which it is obliged to makepublic according to the Swedish Securities Market Act and/or theFinancial Instruments Trading Act.A press and telephone conference will take place today at 09:00 CET.Please click to registerTo join the telephone conference, please call in on +44 (0)20 78061968 a few minutes before it is due to start.Slides for the conference can be found on our website,http://www.lindabgroup.com/English/ir/presentationer/Pages/default.aspxA replay will be available on the Investor Relations section on thewebsiteContacts:LINDABDavid Brodetsky, CEOEmail: david.brodetsky(at)lindab.comMobile: +46 (0)73 274 5418Nils-Johan Andersson, CFOEmail: nils-johan.andersson(at)lindab.comMobile:+46 (0)70 668 5075About Lindab:Lindab is an international group that develops, manufactures andmarkets sheet metal products and system solutions for theconstruction sector.The two business areas, Profile and Ventilation offer completesolutions for construction systems and indoor climate, as well asindividual construction and ventilation components for all types ofbuildings.Lindab is listed on the Nasdaq OMX Nordic Exchange, Stockholm, LargeCap under the ticker "LIAB".The Lindab group has approximately 5,000 employees in 31 countriesand generated sales of SEK 9,840 million in 2008. Its head office islocated in Grevie near Bastad in southwestern Sweden. For moreinformation visit www.lindabgroup.comhttp://hugin.info/1122/R/1329319/313839.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 17.07.2009 - 07:41 Uhr
Sprache: Deutsch
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