Lindab and its owners have decided to prepare for an IPO of the company. A draft prospectus has been filed with the Swedish Financial Supervision Authority (Finansinspektionen) and the company committee of the Stockholm Stock Exchange has reviewed the application by the company to be listed on the Exchange. The IPO is currently expected to be finalised before the end of the year. Further information regarding timing and conditions will be communicated in due course.

 

Lindab reports that net sales for the first nine months of 2006 amounted to SEK 5,457 million, achieving an operating profit (EBITA) of SEK 685 million. This represents a considerable increase compared to the same period in 2005 when the operating profit amounted to SEK 386 million.

 

During the third quarter, net sales amounted to SEK 2,045 million (1,685) and the operating profit (EBITA) was SEK 365 million (236)

 

The improved profit is explained by successful ventures within the Building Systems division, reinforced focus on core products within the Ventilation business area, as well as strong underlying demand across both business areas.

 

The previously announced acquisition agreement of the UK Ventilation company, CCL Veloduct was legally completed on 6 November.

 

"Since leaving the Stock Exchange in 2001, we have made important organisational changes, significant cost reductions through a more efficient production structure, as well as acquisitions that have been successfully integrated and thereby increased our market penetration within the CEE in particular," says CEO Kjell Åkesson.

 

"We are now ready to return to the stock market as a larger and more profitable company." concludes Kjell Åkesson.

 

Lindab offers in-house solutions in steel and sheet metal and the operations are divided in two business areas - Ventilation and Profile. Ventilation focuses on the ventilation industry, offering both components and system solutions, whereas Profile focuses on the construction industry, offering an extensive range of building components and complete building systems.

 

Morgan Stanley and Handelsbanken Capital Markets have been appointed as advisors "Joint Global Coordinators" by the company and the owners regarding the IPO. SEB Enskilda is "Co-lead".