LINDAB - STRONG PROFIT GROWTH - PREPARING FOR AN IPO 2006
PRESS RELEASE
NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPAN
This announcementis not an offer for sale of shares in Lindab. Shares in Lindab have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act" ) and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. Any public offering of shares in Lindab will be made by means of a prospectus that may be obtained from Lindab and that will contain detailed information about the Company and management, as well as financial statements. Lindab and the selling shareholders do not intend to register the securities or conduct a public offering in the United States.
07 November 2006
LINDAB - STRONG PROFIT GROWTH - PREPARING FOR AN IPO 2006
Interim report for January - September 2006
- IPO planned during 2006
- Net sales increased by 25% to SEK 5,457 million (4,360)
- The operating profit (EBITA) increased by 77% to SEK 685 million (386)
- After-tax profit rose to SEK 460 million (227)
- Diluted earnings per share amounted to SEK 4.55 (1.85))
Lindab prepares for an IPO
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.
Continued positive growth for Lindab
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 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".
Ends
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Contacts:
LINDAB AB
Kjell Åkesson, CEO
Email: kjell.akesson@lindab.com
Nils-Johan Andersson, CFO
Tel. +46 (0)431 850 00
Anders Person, HR & IR director
Tel. +46 (0)431 850 00
Support material:
Full report as pdf. Also viewable on Lindab's corporate website www.lindab.com/default
Editors Notes:
Lindab is an international group that develops, manufactures and markets sheet metal products and system solutions for the construction sector.
The two main business areas are Ventilation and Profile.
The Ventilation business area focuses on the ventilation industry, offering everything from ventilation components to complete indoor climate solutions.
The Profile business area focuses on the construction industry, offering an extensive range of construction components and complete building systems for both commercial and residential properties.
The Lindab group has approximately 4,500 employees in 28 countries and generated sales of SEK 6,214 million in 2005. Its head office is located in Grevie near Bastad in southwestern Sweden.