The second quarter of 2018
Net sales increased by 13% to 2 392 MILLION (2 118), of which organic growth amounted to 8 percent.
Justerat1) operating profit decreased by 2 per cent to SEK 148 million (151). Operating profit amounted to SEK 129 million (151).
Justerad1) operating margin amounted to 6.2 percent (7.1).
Net income decreased by 14 per cent to SEK 91 million (106).
Earnings per share amounted to sek 1.19 SEC (1,39).
Cash flow from operating activities amounted to 51 MSEK (162).
On 18 June, Ola Ringdahl as the new PRESIDENT and ceo and he replaced the then acting president and CEO, Fredrik von Oelreich.
January — June 2018
Net sales increased by 14 per cent to 4 SEK 545 m (3 976), of which organic growth amounted to 10 per cent.
Justerat1) operating profit increased by 10 per cent to 252 MSEK (230). Operating profit amounted to SEK 200 million (229).
Justerad1) operating margin amounted to 5.5 per cent (to 5.8).
Net income decreased by 8 percent to 136 MSEK (148).
Earnings per share amounted to 1,79 SEC (1,94).
Cash flow from operating activities amounted to SEK 93 million (122).
1) Adjusted operating income/margin excludes non-recurring items and restructuring costs, of a considerable size.
Lindab’s president and CEO, Ola Ringdahl, said:
«The second quarter was another quarter of continued high growth in sales. Net sales increased by 13% to 2 392 MILLION and the adjusted operating profit amounted to SEK 148 million.
Products & Solutions had continued strong sales, which grew 9% organically. Net sales amounted to sek 2 SEK 115 million, which is the highest sales ever for a single quarter. Adjusted operating income increased by MSEK 6 to MSEK 167. The segment continued to see a lower gross margin compared with the same period of the previous year, but the difference was less than in the first quarter. Price increases have been implemented during the quarter and further price increases are under implementation. During the second quarter continued the prices for raw materials increase. Market information indicates that raw material prices stabilized during the third quarter, which is expected to be positive for Lindab.
Building Systems, had as expected a weak second quarter, negatively impacted by product mix. The market continues to develop strongly and in the period we have signed an agreement on the nine orders above SEK 10 million. Production planning indicates a second half that is better than the previous year thanks to a larger order book.
The strategic evaluation of the non ventilationsrelaterade activities proceeds where the sale of Building Systems is a possibility which remains under consideration. Analysis of other non-ventilationsrelaterade activities are implemented and any next steps to be evaluated.
A lower gross margin has been partially offset by our operating expenses in relation to sales have decreased. We are not satisfied with the current margin. Further price corrections are under implementation, together with a series of efficiency measures. The long-term goal of an operating margin of 10 percent remains.»
This information is such information which Lindab International AB (publ) is obliged to publish under the EU marknadsmissbruksförordning and the law on the securities market. The information was submitted, through the following contacts in the government, for publication on 19 July 2018 there 07:40 CEST.
Ola Ringdahl, president and CEO
Telephone: +46 (0) 431 850 00
Kristian Ackeby, finance and chief financial officer
Mobile: +46 (0) 70 33 85069
Short about Lindab:
Lindab develops, manufactures, markets and distributes products and system solutions for simplified construction and improved indoor climate. The products are characterized by high quality, ease of — and environmental awareness and comes with a high level of service, all of which provide increased customer value.
The group had a turnover of 8 242 MILLION in the year 2017 and is established in 32 countries with approximately 5,100 employees. The main market is non-residential, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. In 2017, the Nordic countries accounted for 46%, Western europe 33 percent, the CEE/CIS (Central and Eastern europe and other former soviet states) for 18 percent and Other markets for 3 percent of total sales.
The share is listed on Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap, under the ticker symbol operations is provided.
Lindab’s report for the second quarter of 2018
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Source: Lindab International AB via Globenewswire