First quarter 2014:
- Sales revenue increased by 12 percent to SEK 1,506 m (1,341), an increase of 11 percent when adjusted for currency and structure.
- Operating profit (EBIT) increased to SEK 60 m (13), excluding one-off items of SEK -3 m (-6).
- The operating margin (EBIT), excluding one-off items, increased to 4.0 percent (1.0).
- The after-tax result increased to SEK 14 m (-28).
- Earnings per share increased to SEK 0.18 (-0.37).
- Cash flow from operating activities amounted to SEK -266 m (3).
Lindab's President and CEO, Anders Berg, commented:
"We are pleased to be able to present a first quarter with the best profit since 2008. Weather conditions in our markets have been more favourable for construction activities this year than in the previous years, which of course has had a positive impact. Overall, the market is showing more positive signals, while we remain cautious about an overly positive interpretation of underlying markets, since seasonally the first quarter is generally the lowest in terms of sales and profitability. It is also important to remember that Lindab's business is late-cyclical.
Looking at the factors we ourselves can influence, we have our new organisation in place, which has begun to generate a positive impact. We now have the platform we want and we are developing and refining our road-map "Back to Basics - Into the Future". During the quarter there were several activities to increase organic growth, in the case of both development in distribution and increased project sales. Our aim is to create more interfaces with our customers, increase availability, and develop products and solutions that help our customers to do better business. A good example of this is the acquisition of NovoClima, manufacturer of our waterborne indoor climate products, where we have secured availability by controlling the entire value chain, which will strengthen our offering of these products going forward.
In the current climate there is, unfortunately, concern, in particular with regard to Ukraine and Russia, which of course affects all of us. The Russian economy was already showing signs of decline before the events in Crimea and it is difficult to say how much of an effect the prevailing uncertainty in the region will have on our sales. It is quite clear however that the current situation is generating more questions than answers, while we also believe that over time we will be able to develop our business further in the region.
In conclusion, we have had a good start to 2014 and there is good energy in the organisation with many activities with our customers. Let's take this with us moving forward!"
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. |
Contacts:
LINDAB
Anders Berg, CEO
Email: anders.berg@lindab.com
Mobile: +46 (0) 70 35 89155
Per Nilsson, CFO
Email: per.nilsson@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 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 6,523 m in 2013 and is established in 32 countries with approximately 4,400 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales.During 2013, the Nordic market accounted for 46 percent, the CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 24 percent, Western Europe for 27 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
