Lindab International Ab · OMXSTO:LIAB
Lindab International Ab — Q3 2024 Earnings Presentation
13 slides from Lindab International Ab's earnings presentation, Oct 24, 2024
Slide 1: Lindab Group Q3 report
For a better climate TM Lindab Group Q3 report 24 October 2024 Ola Ringdahl President & CEO Lars Ynner CFO
Slide 2: Q3 Summary
Q3 Summary SALES SEK m GROWTH Target 10% SALES SPLIT 90/10 in 2027 3,348 Organic Structural -4% +9% 76/24 Ventilation Systems Profile Systems Currency -2% Adj. EBIT, SEK m 304 Adj. EBIT % Target 10% operating activities CASH FLOW SEK m 259 Ventilation Systems 9.5% Adj. EBIT, % 9.1 Profile Systems 8.
Slide 3: Continued growth for Ventilation Systems, driven by acquisitions
Continued growth for Ventilation Systems, driven by acquisitions Sales per year, SEK m Ventilation Systems SEK m Lindab Group SEK m Sales, SEK m SEK m Profile Systems Organic Structural Sales, SEK m Q3, 2024 growth growth Q3, 2023 Lindab Group 3,348 -4% 9% 3,251 Ventilation Systems 2,538 -3% 11% 2,3
Slide 4: Market decline puts pressure on operating margins
Market decline puts pressure on operating margins Adj. EBIT per quarter and 12 months Ventilation Systems SEK m Lindab Group % SEK m % Adj. EBIT, SEK m Adj. EBIT R12 months, % SEK m Profile Systems % Adj. EBIT, SEK m Q3, 2024 Q3, 2023 Lindab Group 304 9.1% 351 10.8% Ventilation Systems 240 9.5% 268
Slide 5: Continued solid cash flow from operating activities
Continued solid cash flow from operating activities Solid financial position supports additional acquisitions Cash flow from operating activities • Cash flow from operating activities amounted to SEK 259 m 259 SEK m (444) in Q3. One-time costs in Q3 • Impairment of Leapcraft: SEK -30 m Quarterly cas
Slide 6: Net debt
Net debt • Net debt amounted to SEK 4,385 m (3,334), 2.3 Net debt / EBITDA Financial Net debt / EBITDA 1.7 of which SEK 1,473 m (1,341) is related to leasing liabilities. (Financial) Net debt • Net debt/EBITDA amounted to 2.3 (2.0). /EBITDA MSEK • Financial Net debt/EBITDA amounted to 2.5 5,000 1.7
Slide 7: Building a stronger Lindab
Building a stronger Lindab 7
Slide 8: Accelerating profitable growth
Accelerating profitable growth 2009-2017 2018-2023 2024-2027 Debt reduction Investing in the Accelerating business profitable growth Generated profits and cash Focus on fewer markets and With investments in place, the flow was used to pay off debt product areas. Investments in focus is on profitable
Slide 9: Measures to increase profitability
Measures to increase profitability Additional cost reductions will be implemented in Q4 to secure satisfactory margins in 2025. More attention to internal synergies with acquired companies. Acceleration of structural actions in Profile Systems, with focus on Eastern Europe. 9
Slide 10: Investments to increase efficiency, capacity and safety
Investments to increase efficiency, capacity and safety Efficiency from • Investments YTD was SEK 181 m (273). investments • The strategic investment program, running since 2019, will be completed in 2024. • With current investments in automation and capacity, the Competitive production volumes can
Slide 11: Acquisitions of high-quality companies
Acquisitions of high-quality companies Sales* Consolidated RECENT ACQUISTIONS SEK m as of 2024 ATIB 250 2 Oct Venti 120 2 Jul TGA KlimaPartner 50 2 Apr Airmaster 542 1 Mar Vicon 260 8 Feb 1,222 2023 HAS-Vent 280 5 Oct 2023 Firmac 40 2 May 2023 Ventilace EU 42 5 Jun 2023 Irish Ventilation & Filtratio
Slide 12: Market outlook
Market outlook • The European ventilation market is estimated to have declined by 5% in volume during the first nine months. • For Profile Systems, the Nordic market has stabilised on a low level. • Early signs of recovery have been noted for Profile Systems in the Nordic region during Q3. • For Ven
Slide 13: Thank you! Questions?
©Lindab’ Thank you! Questions?