Lindab reports a strong first quarter
* Net sales increased by 32% to SEK 1,972 M (1,494)
* Operating profit (EBITA) increased by 121% to SEK 188 M (85)
* Operating margin (EBITA) increased to 9.5% (5.7)
* After-tax profit increased to SEK 112 M (51)
* Diluted earnings per share amounted to 1.42 SEK (0.41).
Lindab International AB reports that its net sales for the first
quarter reached SEK 1,972 million, achieving a significantly improved
profit (EBITA) of SEK 188 million. This constitutes a 121 percent
increase compared to the same period in 2006."Concerted efforts within the organisation, backed-up by the positive
construction trend; a mild winter, and the successful integration of
our latest acquisitions are the primary explanations for the
successful development during the first quarter," says CEO and
President, Kjell Åkesson.
The volume growth has been very strong throughout all the key markets
within both business areas. The mild winter has mainly influenced
sales in the Building Components division within the Profile business
area, particularly in Scandinavia and Eastern Europe, regions that
are most sensitive to seasonal factors.
In Western Europe net sales increased by 51 percent compared to the
same period last year. This is partly due to efforts made within the
Ventilation business area, notably the strategic acquisitions of CCL
in the UK and Airbat in France, both of which have contributed well."Our strategy to focus on core products and to reinforce market
positions remains. During the quarter we have launched our new duct
system Lindab Safe Click, which has been very well received on the
market. We also continue our expansion in Eastern Europe, where net
sales grew by 65 percent in the first quarter. The production unit in
St Petersburg for the Ventilation business area is now up and running
and in the next quarter building work on the new Moscow plant for
Building Systems will start," says Kjell Åkesson.
Ends
Contacts:
LINDAB
Kjell Åkesson, CEO
Email: kjell.akesson@lindab.com
Tel. +46 (0)431 850 00 / 850 07
Nils-Johan Andersson, CFO
Email: nils-johan.andersson@lindab.com
Tel. +46 (0)431 85075
Support material:
About Lindab:
Lindab is an international group that develops, manufactures and
markets sheet metal products and system solutions for the
construction sector.
The two business areas, Profile and Ventilation offer complete
solutions for construction systems and indoor climate, as well as
individual construction and ventilation components for all types of
buildings.
The Lindab group has approximately 4,900 employees in 29 countries
and generated sales of SEK 7,609 million in 2006. Its head office is
located in Grevie near Bastad in southwestern Sweden.
The key market is commercial construction, representing 80 percent of
sales, while residential construction amounts to 20 percent.
Geographical main markets are the Nordic countries with 42 percent of
sales in 2006; the growth market Central and Eastern Europe,
representing 28 percent and Western Europe, which accounted for 24
percent. Other markets made up the remaining 6 percent.
The share is listed on the Stockholm Stock Exchange. Principal owners
are Ratos, Sjätte AP-fonden and Skandia Liv.
For more information visit www.lindab.com
