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Net sales increased to SEK 1,752 m (1,694), of which organic growth amounted to 5 percent.
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Operating profit increased to SEK 68 m (54), including one-off items of SEK -2 m (0).
Excluding one-off items, the operating profit increased to SEK 70 m (54). -
The operating margin, excluding one-off items, increased to 4.0 percent (3.2).
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The profit for the period increased to SEK 32 m (27).
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Earnings per share increased by 20 percent to SEK 0.42 (0.35).
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Cash flow from operating activities amounted to SEK -79 m (-83).
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The net debt/equity ratio amounted to 0.5 (0.5) at the end of the quarter.
Lindab's President and CEO, Anders Berg, commented:
"Lindab had a strong start to 2016 with positive organic growth, improved operating profit and operating margin. This shows that the business continues to move in the right direction, even though activity levels in our seasonal business are traditionally lower in the first quarter.
Products & Solutions showed the best first-quarter operating profit since 2008 and organic growth for the tenth consecutive quarter. The Nordic region - our largest region - continues its good development. In Sweden, sales were the highest until now in a first quarter. The improvements in ventilation are the main reason for the good development in Products & Solutions.
Building Systems' organic growth of 38 percent contributed to the best first-quarter operating profit and best operating margin for the segment since 2009. This is a result of our focus on key customers and our strategic efforts to expand our business to more countries.
In the first quarter, Lindab launched UltraLink - a unique and groundbreaking measuring technology. The launch is a very important step for Lindab and confirms our ambition of creating energy-efficient solutions and added value to our customers and end users.
During the quarter, Lindab participated in the two largest trade fairs in Europe, Mostra in Italy and Nordbygg in Sweden. At Nordbygg, Scandinavia's largest building and construction fair, Lindab launched products from our two recent acquisitions IMP Klima and MP3 for the first time which have now been adapted and certified for the Nordic markets.
It was announced in the quarter that Lindab will also deliver to the second stage of the construction of an e-commerce facility in Varalöv, Sweden, at a total value of SEK 60 m. During the quarter, we began deliveries to the first stage of the project."
End
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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 3 May 2016 at 14.00 (CET).
Contact:
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
About Lindab:
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, under the ticker symbol LIAB. For more information visit www.lindabgroup.com.
