Lindab's results for the second quarter exceeds market expectations
Lindab's adjusted operating profit for the second quarter 2021 amounted to SEK 356 m and the adjusted operating margin equalled 13.0 percent, compared with SEK 222 m and 10.0 percent for the second quarter last year. It is estimated to be significantly higher than market expectations. Sales for the second quarter amounted to SEK 2,747 m, which corresponds to sales growth of 24 percent compared with the corresponding quarter last year.
Lindab has decided to publish the results for the second quarter today. This is due to market expectations, in the form of earnings forecasts from analysts, being significantly lower than the results that will be presented.
“We have had a strong second quarter with high demand for Lindab's products. The adjusted operating profit increased by 60 percent, thanks to strong sales growth, increased efficiency from the investment program and continued good cost control. The Ventilation Systems business area has performed very well and has increased sales by 26 percent. Profile Systems has continued to develop strongly and achieved 27 percent sales growth. Building Systems' sales also increased during the second quarter by 4 percent. All in all, this has resulted in sales and operating profit being significantly higher than in the second quarter of previous year.”, says Ola Ringdahl, President and CEO of Lindab.
Second quarter results are presented in full on Tuesday, 20 July at 07:40 am (CEST). No further information is provided before then. Sales and result published in this press release are preliminary figures.
This disclosure contains information that Lindab is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 12-07-2021 07:40 CET.
Contacts:
Ola Ringdahl
President and CEO
E-mail: ola.ringdahl@lindab.com
Phone: +46 (0) 431 850 00
Madeleine Hjelmberg
Acting CFO
E-mail: madeleine.hjelmberg@lindab.com
Phone: +46 (0) 431 850 00
Catharina Paulcén
Head of Corporate Communications
E-mail: catharina.paulcen@lindab.com
Mobile: +46 (0) 701 48 99 65
Lindab in brief
Lindab is a leading ventilation company in Europe. Lindab develops, manufactures, markets and distributes products and systems for energy-efficient ventilation and a healthy indoor climate. The products are characterised by high quality, ease of installation and environmental thinking.
The Group had sales of SEK 9,166 m in 2020 and is established in 24 countries with approximately 5,000 employees. The Nordic region accounted for 48 percent of sales in 2020, Western Europe for 32 percent, Central- and Eastern Europe for 18 percent and Other markets 2 percent.
The share is listed on the Nasdaq Stockholm, Mid Cap, under the ticker symbol LIAB.