Lindab International AB : Lindab's Report for the First Quarter 2013

First quarter 2013

• Sales revenue decreased by 9 percent to SEK 1,341 m (1,479), a decrease of 10 percent when adjusted for currency and structure.
• Operating profit (EBIT) amounted to SEK 13 m (30), excluding one-off items of SEK -6 m (-38).
• The operating margin (EBIT), excluding one-off items, amounted to 1.0 percent (2.0).
• The after-tax result amounted to SEK -28 m (-46).
• Earnings per share amounted to SEK -0.37 (-0.61).
• Cash flow from operating activities amounted to SEK 3 m (-90).
• New President and CEO, Anders Berg, from 18 March 2013.

Lindab's President and CEO, Anders Berg, commented:

"The first quarter is low-season and it is also the quarter in which Lindab has the lowest volumes, in terms of sales. It can hardly have escaped anyone that winter this year has been snowy, protracted and geographically widespread across all of Lindab's regions. Combined with weak underlying demand this has inevitably had a negative impact on sales.

The cost and efficiency programme, which has been expanded to generate gross annual savings of SEK 300 m, is continuing as planned.

The macroeconomic signals are not particularly positive, but there are glimmers of light. Norway and Russia, for example, are markets where growth is predicted to be good during the year. In Norway, we also appointed new management at the end of the quarter and in Russia we have started producing ventilation components at our Building Systems plant in Yaroslavl.

Now it is important to step forward and build on the strong platform we have. Internally we have launched "Back to Basics - Into the Future", which means we will be doing more of what we are good at, focusing especially on organic growth. We have an extensive activity programme and there is a great deal to develop further. We must become even better at understanding and serving our customers. This means we will be focusing on getting closer to the customer and on developing our product range. For instance, after listening to our customers, we have reintroduced the Astron brand for our pre-engineered steel building systems, and we expect a positive outcome from this. We have a number of interesting product launches and our production in general is world class.

Similarly, we want to work on developing a safe working environment, focus even more closely on sustainability and, through a comprehensive dialogue across the company, dare to think in new ways about continuous improvement and growth.

Motivation and energy are important. The same goes for excellent leadership and sound business sense so that our resources are used appropriately throughout the Group for the good of the entire company. Lindab is inherently very strong and has enormous capability. Now we will concentrate on turning our expertise into concrete plans and activities."

End

Contacts:

LINDAB

Anders Berg, CEO
Email: anders.berg@lindab.com
Mobile: +46 (0) 70 35 89155

Per Nilsson, CFO
Email: per.nilsson@lindab.com
Mobil: +46 (0)70 33 85069

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 Per Nilsson, CFO.

To access the telephone conference, please call UK +44 (0)20 3364 5372 a few minutes before the scheduled start. Alternatively, call the Swedish number +46 (0)8 5055 6487.

  
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 business is carried out within three business areas, Ventilation, Building Components and Building Systems. 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 6,656 m in 2012 and is established in 31 countries with approximately 4,300 employees.

The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2012, the Nordic market accounted for 46 percent, the CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 23 percent, Western Europe for 28 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