Strong Organic Growth
Third quarter 2007
* Net sales increased by 22% to SEK 2,494 m (2,045)
* Operating Profit (EBIT) increased by 25% to SEK 424 m (338),
excluding a one-off item for 20061
* Operating margin (EBIT) increased to 17% (16.5), excluding a
one-off item for 20061
* After-tax profit increased to SEK 321 m (251)
* Diluted earnings per share amounted to SEK 4.08 (3.20)
January - September 2007
* Net sales increased by 25% to SEK 6,795 m (5,457)
* Operating Profit (EBIT) increased by 44% to SEK 939 m (653),
excluding a one-off item for 20061
* Operating margin (EBIT) increased to 13.8% (12.0), excluding a
one-off item for 20061
* After-tax profit increased to SEK 654 m (460)
* Diluted earnings per share amounted to SEK 8.31 (4.55)
Lindab reports that its net sales for the third quarter of 2007
reached SEK 2,494 m (2,045) with a profit of SEK 424 m, which
excluding the one-off item for 2006 (capital gain of SEK 25 m from
the sale of properties) corresponds to an increase of 25 percent when
compared with the same period last year."All of our regions have shown good growth," says Lindab's CEO and
President, Kjell Åkesson. "Organic growth of 13 percent is
satisfying. Both of our business areas have grown at the same rate.
It is especially pleasing that Building Systems has delivered
strongly, particularly in Eastern Europe.""The margins have strengthened further, which can mainly be explained
by stable volume growth. This is despite incurring costs during the
quarter resulting from our efforts within Ventilation," says Kjell
Åkesson.
The Eastern European market grew by 21 percent during the quarter.
The Profile business area accounts for the majority of sales in the
region, but Ventilation is growing more quickly. A large order for
Building Systems in Russia during September underlines the positive
development. The Board has taken a decision to invest SEK 50 m in a
new Building Components production unit in Kiev, Ukraine, in order to
meet the strong demand there. Production is planned to begin in the
second quarter of 2009.
In Western Europe, net sales for the period increased by 42 percent,
which can mainly be attributed to the Ventilation business area. The
integration of last year's acquisition in the UK was completed ahead
of schedule and it has contributed strongly. Furthermore, the launch
of the new, easy-to-assemble ventilation system, Lindab Safe Click,
has generated increased sales in the three markets where it has been
introduced during the quarter, i.e. Germany, Belgium and Switzerland.
Other important events that have been communicated during the period
were the presentation of a new partition-wall stud with a
click-function, which is being launched in the first quarter of 2008,
as well as increasing the financial target for the operating margin
to 14 percent. "Moreover, soon after the close of the quarter, we
acquired an Irish ventilation company, Aervent Holdings Ltd, with net
sales of SEK 110 m." concludes Kjell Åkesson.
Annual General Meeting
The Board has decided that the AGM is to be held on 7 May 2008, in
Båstad Sweden. Notice to attend the AGM will be sent out in due
course.
1 Capital gain of SEK 25 m from the sale of properties
Ends
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 laws for Stock Exchange and Clearing
Operations Act and/or the Financial Instruments Trading Act.
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
Lindab - a ventilation and construction systems provider:
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.
Lindab is listed on the Stockholm Stock Exchange, Nordic Large Cap
under the ticker "LIAB".
The Lindab group has approximately 5,000 employees in 30 countries
and generated sales of approx SEK 9 billion in the twelvemonth period
ending 30 September 2007. Its head office is located in Grevie near
Bastad in southwestern Sweden. For more information visit
www.lindab.com
