April - June 2009
* Net sales decreased by 29 % to SEK 1,821 m (2,567), adjusted for
currency and structure the decrease was 37 %
* Operating profit (EBIT), excluding one-off items of SEK 12 m,
decreased by 76 % to SEK 97 m (396)
* Operating margin (EBIT), excluding one-off items, was 5.3 %
(15.4)
* Result after tax was SEK 13 m (266)
* Earnings per share amounted to SEK 0.17 (3.38)
* Cash-flow from operating activities amounted to SEK 332 m (317)
* A new cost and efficiency programme of SEK 200 m savings has been
decided
January - June 2009
* Net sales decreased by 24 % to SEK 3,592 m (4,696)
* Operating profit (EBIT), excluding one-off items of SEK 12
m, decreased by 80 % to SEK 122 m (603)
* Operating margin (EBIT), excluding one-off items,
decreased to 3.4 % (12.8)
* Result after tax amounted to SEK - 8 m (383).
* Earnings per share amounted to SEK - 0.11 (4.87)
* Cash-flow from operating activities amounted to SEK 145 m
(326)
* Goal to reduce working capital by SEK 400 m, according to
plan
Lindab's President and CEO, David Brodetsky commented:
"The continued decline in sales in the second quarter has led us to
take additional cost and efficiency measures in order to save a
further SEK 200 m annually. The new programme will be implemented
during the third quarter and entails SEK 70 m in one-off costs. This
includes the recently announced closure of a Building Systems factory
in Hungary."
"With the current level of demand, staffing cutbacks are inevitable,
but wherever possible we are implementing short-time working instead
of redundancies, since we believe that this is in the best interest
of both employees and the employer in these difficult times."
"Regarding cash flow, the increased focus on capital efficiency has
resulted in a very good development of working capital in the
quarter."
"Market visibility is still very low, but we expect tough market
conditions to continue for this year and next. There are, however,
some signs that demand in Nordic and CEE are starting to level off,
while it appears that the decline in Western Europe is continuing."
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.
A press and telephone conference will take place today at 09:00 CET.
Please click to register
To join the telephone conference, please call in on +44 (0)20 7806
1968 a few minutes before it is due to start.
Slides for the conference can be found on our website,
http://www.lindabgroup.com/English/ir/presentationer/Pages/default.aspx
A replay will be available on the Investor Relations section on the
website
Contacts:
LINDAB
David Brodetsky, CEO
Email: david.brodetsky@lindab.com
Mobile: +46 (0)73 274 5418
Nils-Johan Andersson, CFO
Email: nils-johan.andersson@lindab.com
Mobile:+46 (0)70 668 5075
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 Nasdaq OMX Nordic Exchange, Stockholm, Large
Cap under the ticker "LIAB".
The Lindab group has approximately 5,000 employees in 31 countries
and generated sales of SEK 9,840 million in 2008. Its head office is
located in Grevie near Bastad in southwestern Sweden. For more
information visit www.lindabgroup.com
