Lindab sees continued opportunities for growth
Lindab's CEO Kjell Åkesson announced positive news during the company's CMD held on 12 September in Grevie, Sweden. He informed the 50 delegates present that their target for the EBIT-margin was being upgraded, unveiled a new product innovation and confirmed receipt of a large order for Russia, all of which had previously been made public via press releases during the day.
Detailed presentations were made about both of Lindab's business areas, Profile and Ventilation. There was a particular focus on the growth market, CEE/CIS, and external speaker, Handelsbanken's Chief Economist, Jan Häggström provided an insight to the drivers of demand in the construction products sector.
Lindab's expectations for the Russian market remain high. The Ventilation business area has had a successful start with its production plant in St Petersburg and although Profile's new production unit has been slightly delayed (end of 2008) due to a change to a location in the regional capital, Yaroslavl, the management remains confident that it will achieve its set targets for the investment.
Lindab maintains a positive view about their own market development and has not seen any negative effects on their own sales or order intake resulting from the current turmoil in the International financial markets.
In addition to this positive news, Lindab also addressed matters that had been raised in the previous interim report: The management reaffirmed their view that the temporary delay in order despatches within the Building Systems division will be corrected during Q3/Q4. The higher than normal increase in working capital reported in Q2, due to high stock levels and raw material purchases in Asia, are also seen as temporary and should normalise during Q4. The management also reported on the successful integration of the latest acquisition, CCL Veloduct in the UK, which is proceeding ahead of schedule.
All presentations slides from the day are available from Lindab's corporate website: www.lindab.com/03reports.htm
Ends
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 laws for Stock Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act.
Contacts:
LINDAB
Kjell Åkesson, CEO
Email: kjell.akesson@lindab.com
Tel. +46 (0)431 850 00 / 850 07
Nils-Johan Andersson, CFO
Tel. +46 (0)431 85075
About Lindab:
Lindab is an international group that develops, manufactures and markets sheet metal products and system solutions for the construction sector.
The two business areas, Profile and Ventilation offer complete solutions for construction systems and indoor climate, as well as individual construction and ventilation components for all types of buildings.
Lindab is listed on the Stockholm Stock Exchange, Nordic Large Cap under the ticker "LIAB".
The Lindab group has approximately 5,000 employees in 29 countries and generated sales of SEK 7,609 million in 2006. Its head office is located in Grevie near Bastad in southwestern Sweden. For more information visit www.lindab.com