Fourth Quarter 2015
- Sales revenue increased by 8 percent to SEK 1,980 m (1,836), of which Products & Solutions improved to SEK 1,698 m (1,587) and Building Systems improved to SEK 282 m (249). Adjusted for currency and structure, the increase was 3 percent for the Group.
- Operating profit (EBIT) improved to SEK 100 m (81), including one-off items of SEK -24 m (-21). Excluding one-off items, operating profit (EBIT) amounted to SEK 124 m (102) for the Group, of which Products & Solutions increased to SEK 113 m (106) and Building Systems increased to SEK 28 m (4).
- The operating margin (EBIT), excluding one-off items, increased to 6.3 percent (5.6). Products & Solutions amounted to 6.7 percent (6.7) and Building Systems to 9.9 percent (1.6).
- The after-tax result increased to SEK 63 m (42).
- Earnings per share increased to SEK 0.82 (0.55).
- Cash flow from operating activities amounted to SEK 266 m (263).
January-December 2015
- Sales revenue increased by 8 percent to SEK 7,589 m (7,003), of which Products & Solutions improved to SEK 6,727 m (6,084) and Building Systems amounted to SEK 862 m (919). Adjusted for currency and structure, the increase in sales amounted to 2 percent for the Group.
- Operating profit (EBIT) amounted to SEK 469 m (467), including one-off items of SEK 6 m (-30). Excluding one-off items, operating profit (EBIT) amounted to SEK 463 m (497) for the Group, of which Products & Solutions increased to SEK 504 m (471) and Building Systems amounted to SEK 16 m (52).
- The operating margin (EBIT), excluding one-off items, amounted to 6.1 percent (7.1). Products & Solutions amounted to 7.5 percent (7.7) and Building Systems to 1.9 percent (5.7).
- The after-tax result increased to SEK 305 m (283).
- Earnings per share increased to SEK 3.99 (3.71).
- Cash flow from operating activities improved to SEK 460 m (278).
- Proposed dividends increased to SEK 1.25 (1.10).
Lindab's President and CEO, Anders Berg, commented:
"2015 ended with a quarter where Lindab continued to develop positively, not least thanks to an increase in sales of 8 percent and an improved operating margin. With improved sales revenue, improved operating margins and a higher after-tax result, I am convinced that the company's development is on the right track.
Products & Solutions reported the highest operating profit for a fourth quarter since 2008. The development within those of our product areas which focus on ventilation is clearly positive with continued good organic growth which shows that our strategic initiatives within these areas are paying off. As regards more traditional building products and building systems, it is also positive that the rainwater system is now showing organic growth for the Group.
In the Nordic region, which is the segment's largest region, both Denmark and Finland showed particularly good growth, and Sweden also continued to develop well. For the rest of Europe, the picture was slightly more mixed as the French market continued to be challenged during the quarter, while the UK and Germany saw good growth.
Building Systems experienced a strong fourth quarter. The segment reported organic growth of 17 percent and an operating margin of 9.9 percent in the quarter compared with 1.6 percent in the previous year. Building Systems' improved operating margin is a direct consequence of higher volumes and our active efforts to reduce costs. We are seeing a positive development within our Astron buildings in Western Europe and in other markets.
In November, we attended the Interclima trade fair in Paris. This is the first trade fair where we have presented the Group's entire strategy and offering. Our offering attracted great interest, and we received positive response from our customers and markets. A good level of activity in respect of our strategic activities with clearly defined responsibilities and dedicated local organisations has been and will continue to be an important success factor in Lindab.
Looking back on the year as a whole, we achieved an increase in sales of 8 percent, and despite great challenges in Building Systems during the first three quarters our earnings per share increased by 8 percent to SEK 3.99."
End
The information is such that Lindab International AB (publ) is obligated to publish under the Swedish Securities Market Act and/or the Swedish law on Trading with Financial Instruments The information was submitted for publication on 11 February 2016 at 07.40 (CET).
An audiocast telephone conference will be held at 10.00 a.m. (CET). The report will be presented by Anders Berg, President and CEO, and Kristian Ackeby, CFO.To access the telephone conference, please call UK +44 (0)20 3008 9803 a few minutes before the scheduled start. Alternatively, call the Swedish number +46 (0) 8 5664 2662.
The conference and presentation can also be followed live online via the link, or via Lindab's homepage.
Contacts:
LINDAB
Anders Berg, President and CEO
Email: anders.berg@lindab.com
Mobile: +46 (0) 70 35 89155
Kristian Ackeby, CFO
Email: kristian.ackeby@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 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 of SEK 7,589 m in 2015 and is established in 32 countries with approximately 5,100 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2015, the Nordic market accounted for 44 percent, Western Europe for 33 percent, the CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 19 percent and other markets for 4 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap. For more information visit www.lindabgroup.com.
