Lindab's Report for the the Fourth Quarter and Full Year 2012
October - December 2012
· Sales revenue decreased by 10 percent to SEK 1,667 m (1,855), a decrease of 12 percent when adjusted for currency and structure.
· Operating profit (EBIT) amounted to SEK 105 m (107), excluding one-off items of SEK -65 m (-42).
· The operating margin (EBIT), excluding one-off items, amounted to 6.3 percent (5.8).
· After tax profit totalled SEK 2 m (-5).
· Earnings per share amounted to SEK 0.03 (-0.07).
· Cash flow from operating activities amounted to SEK 192 m (252).
· The target of the cost reduction programme (SEK 150 m annually) has been surpassed and the programme extended to SEK 300 m.
· Anders Berg, new President and CEO will take office on 18 March 2013.
January - December 2012
· Sales revenue decreased by 3 percent to SEK 6,656 m (6,878), a decrease of 5 percent when adjusted for currency and structure.
· Operating profit (EBIT) amounted to SEK 460 m (407), excluding one-off items of SEK -126 m (-59).
· The operating margin (EBIT), excluding one-off items, amounted to 6.9 percent (5.9).
· The after-tax result amounted to SEK 122 m (91).
· Earnings per share amounted to SEK 1.61 (1.21).
· Cash flow from operating activities amounted to SEK 222 m (345).
· Zero dividend proposed (SEK 1.00).
Lindab's Chairman, Kjell Nilsson, commented:
"Lindab once again reports an improved EBIT margin, in spite of tough market conditions. Demand weakened further in the fourth quarter and together with an additional impact coming from the severe winter weather conditions in December resulted in an organic sales decline for the period. However, the EBIT margin compares favourably with last year due to the increasing impact of the cost and efficiency programme.
The cost and efficiency programme has been extended due to the weakening markets and is now expected to generate savings of SEK 300 m before sales activites and inflation, which is double the previously reported target. The majority of actions have already been implemented or initiated and the full impact will be in place from the third quarter 2013.
In addition to our cost and efficiency programme, we will have a clear focus on improving profitability through increased volumes. We will achieve this through reinforcing our distribution and taking advantage of our strong brand, our market-leading position and our high quality products.
By intensifying our efforts to increase volumes and take market shares, we will also increase capacity utilisation of our production units and further increase profitability."
End
| The information here is that which Lindab International AB has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. |
Contacts:
LINDAB
Kjell Nilsson, Chairman of the Board
Email: kjell.nilsson@lindab.com
Mobile:+46 (0)70 26 00121
Carl-Gustav Nilsson, Acting President and CEO
Email:carlgustav.nilsson@lindab.com
Mobile:+46 (0)70 67 85011
Per Nilsson, CFO
Email: per.nilsson@lindab.com
Mobile: +46 (0)70 33 85069
An audiocast telephone conference will be held at 09:30 (CET). The report will be presented by Carl-Gustav Nilsson, Acting CEO and Per Nilsson, CFO.
To access, please call UK +44 (0) 20 33645372 a few minutes before the scheduled start. Alternatively, call the Swedish number +46 (0) 850556481.
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