Lindab International Ab · OMXSTO:LIAB
Lindab International Ab — Q3 2020 Earnings Presentation
19 slides from Lindab International Ab's earnings presentation, Oct 23, 2020
Slide 1: Lindab Group Q3 2020
Lindab Group Q3 2020 Ola Ringdahl, President & CEO Malin Samuelsson, CFO 23 October 2020
Slide 2: Agenda
Agenda • Summary and overview • Financials • Acquisitions & structural changes • Summary and Q&A 2
Slide 3: Summary and overview
Summary and overview 3
Slide 4: Key highlights Q3
Key highlights Q3 • Positive market development since Q2. -6% +0.3 pp • Recovery in Ventilation Systems. 2,302 11.4% Strong growth in Profile Systems. SALES, OPERATING Challenging market for Building Systems. SEK m MARGIN (adj) • Record high operating margin. • Strong cash flow from operating activi
Slide 5: Mixed geographic performance in Q3
Mixed geographic performance in Q3 Growth 45% 3% • Strong quarter in the Nordics, accelerated by Profile Systems. • Clear recovery in Western Europe Nordic compared to Q2. Growth -16% 19% • CEE/CIS continued to be impacted by market uncertainty Growth due to covid-19. -6% 35% CEE/CIS Western Europe
Slide 6: Financials
Financials 6
Slide 7: Lindab Group financial highlights
Lindab Group financial highlights SEK m % Improved EBIT margin, despite uncertainty related to Q3 Net sales covid-19. and EBIT margin Q3 • Net sales decreased by 6% to SEK 2,302 m (2,462). Adj. EBIT% Organically sales declined by 4%, mainly due to lower sales in Building Systems. • Adjusted EBIT mar
Slide 8: Ventilation Systems Q3 financial highlights
Ventilation Systems Q3 financial highlights Sales recovery during the quarter Q3 Net sales and EBIT margin1 SEK m % • Net sales decreased organically by 3% to Q3 Sales, SEK 1,405 m (1,467). Adj. EBIT% • Sales recovery during the quarter compared to Q2, especially in Western Europe. • Continued stabl
Slide 9: Profile Systems Q3 financial highlights
Profile Systems Q3 financial highlights Strong sales growth and improved EBIT margin Q3 Net sales and EBIT margin1 SEK m % • Net sales increased organically by 5% to SEK 654 m Q3 Sales, (637). Adj. EBIT% • Sales growth driven by the Nordics, mainly due to large deliveries of industrial projects in S
Slide 10: Building Systems Q3 financial highlights
Building Systems Q3 financial highlights Good EBIT margin despite significantly lower sales Q3 Net sales and EBIT margin SEK m % • Net sales decreased organically by 26% to Q3 Sales, SEK 243 m (358). Sales in Q3 2019 was unusually Adj. EBIT% strong, influencing the comparison numbers. • EBIT margin
Slide 11: Lindab Group Q3 cash flow
Lindab Group Q3 cash flow SEK m SEK m Strong long-term cash flow trend from operating Cash flow, operating activities activities1, SEK m • Free cash flow adjusted for M&A amounted to SEK 346 m (345) in Q3. Quarter R 12M • The improvement in cash flow from operating activities is driven by changes in
Slide 12: Acquisitions & structural changes
Acquisitions & structural changes 12
Slide 13: Divestment of IMP Klima
Divestment of IMP Klima • Lindab acquired IMP Klima in 2015 to establish a presence in the air handling unit market. It has shown weak development and it has been a loss-making business for several years. • Orange Climate B.V. showed interest to acquire the business after the decision to close down
Slide 14: Crenna - rectangular ventilation ducts in Sweden
Crenna - rectangular ventilation ducts in Sweden • Lindab acquired Crenna Plåt AB on 3 July. • With the acquisition, Lindab will have a complete range of ventilation ducts in Sweden. • Crenna has production units in Enköping, Stockholm and Gothenburg. • Revenue of approximately SEK 120 m with 85 emp
Slide 15: Ekovent, ventilation and fire & smoke protection in the Nordics
Ekovent, ventilation and fire & smoke protection in the Nordics • Lindab acquired Ekovent on 1 October. • The acquisition expands Lindab's offering in ventilation solutions and Lindab strengthens its position in fire & smoke protection in Sweden. • Ekovent has its head office and two production faci
Slide 16: Summary and Q&A
Summary and Q&A 16
Slide 17: Focus areas for 2020
Focus areas for 2020 Decentralisation with Sustainable Customer satisfaction Investment in clear accountability profitability in line with through delivery efficiency, capacity financial targets excellence and digital support $ 17
Slide 18: Key highlights Q3
Key highlights Q3 • Positive market development since Q2. -6% +0.3 pp • Recovery in Ventilation Systems. 2,302 11.4% Strong growth in Profile Systems. SALES, OPERATING Challenging market for Building Systems. SEK m MARGIN (adj) • Record high operating margin. • Strong cash flow from operating activi
Slide 19: Thank you! Questions?
Thank you! Questions?