Slide 1: Lindab Group presentation Q2 2012
lindab | group presentation Lindab Group presentation Q2 2012 David Brodetsky, CEO Per Nilsson, CFO
Slide 2: Lindab Group - Q2 2012 Highlights
lindab | group presentation Lindab Group - Q2 2012 Highlights Strengthening Ventilation through a strategic acquisition 96.7% of Centrum Klima acquired in qtr Ventilation distribution leader in Poland Successful business: Strong growth; Sales ~ SEK 200 m; >10% EBIT Excellent synergies Fitt
Slide 3: Q2 2012 Highlights
lindab | group presentation Lindab Group - Q2 2012 Highlights Margin improves in spite of weak sales and steel cost increases Sales*: -5% versus Q2, 2011 Ventilation -4%; Building Components -11%; Building Systems +8% EBIT**: 7.8% margin (7.7% Q2 2011) Cash: Positive cash flow from operation
Slide 4: Q2 2012 Highlights
lindab | group presentation Lindab Group - Q2 2012 Highlights Sales momentum weak in most markets Macro economic situation creating weakness and uncertainty Russia the notable exception
Slide 5: Profit & Loss Q2 2012 - Group
lindab | group presentation Lindab Group Profit & Loss Q2 2012 - Group SEK m Q2 2012 Q2 2011 Sales growth -1% Sales 1 737 1 755 Structure 4% EBIT* 135 135 EBIT* % 7.8 7.7 Currency effect 0% Fin net -39 -38 Organic -5% Tax -24 -37 Net profit 56 60 *) Q2 2012 EBIT excludes one time cost of SEK -16 m (
Slide 6: Quarterly operating profit (EBIT) SEK m
lindab | group presentation Lindab Group Quarterly operating profit (EBIT) SEK m Quarter Rolling 12 month 300 1200 212 200 172 800 145 135 135 110 97 75 107 100 400 25 34 0 0 -7 30 -50 -100 -400 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2009 2010 2011 2012 Quarterly LTM Seasonal impact – Q1 lowest
Slide 7: Cash flow Q2 2012
lindab | group presentation Lindab Group Cash flow Q2 2012 SEK m Apr – Jun Apr – Jun 2012 2011 Cash flow from - operating activities 145 183 - change in working capital 12 92 - investing activities -266 -65 - financial net paid -31 -39 - tax paid -29 -19 Free cash flow -169 152 Free cash flow adj. f
Slide 8: Cash flow Q2 – working capital development
lindab | group presentation Lindab Group Cash flow Q2 – working capital development SEK m Apr– Jun Apr – Jun 2012 2011 Stock -32 -47 Operating receivables -144 -194 Operating liabilities 188 333 Total change in working capital 12 92 Lower cash flow from change in working capital explained by timin
Slide 9: Cash flow trend
lindab | group presentation Lindab Group Cash flow trend Operating cash flow, SEK m Quarter Rolling 12 month 600 800 500 600 400 332 329 324 300 245 252 400 172 217 200 115 67 97 200 100 0 0 -100 -90 -200 -200 -187 -172 -300 -239 -400 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2009 2010 2011 2012 Qua
Slide 10: Business Areas
lindab | group presentation Business Areas 10
Slide 11: BA Ventilation Profit & Loss Q2 2012
lindab | group presentation BA Ventilation Profit & Loss Q2 2012 SEK m Q2 2012 Q2 2011 Sales growth 1% Structure 4% Sales 902 896 EBIT* 69 62 Currency effect 1% EBIT* % 7.6 6.9 Organic -4% *) excluding one time cost of SEK -15m in Q2 2012 and SEK -0m in Q2 2011 Sales stable due to acquisitions (ma
Slide 12: BA Building Components Profit & Loss Q2 2012
lindab | group presentation BA Building Components Profit & Loss Q2 2012 SEK m Q2 2012 Q2 2011 Sales growth -7% Sales 576 618 Structure 5% EBIT 51 75 Currency effect -1% EBIT % 8.9 12.1 Organic -11% *) excluding one time cost of SEK -1m in Q2 2012 and SEK -0m in Q2 2011 Lower sales due to weakened
Slide 13: BA Building Systems Profit & Loss Q2 2012
lindab | group presentation BA Building Systems Profit & Loss Q2 2012 SEK m Q2 2012 Q2 2011 Sales growth 7% Sales 259 241 Structure 0% EBIT 24 9 Currency effect -1% EBIT % 9.3 3.7 Organic 8% Positive growth in CEE/CIS driven by good sales in the two largest markets, Russia and Belarus EBIT incre
Slide 14: Business highlights by BA
lindab | group presentation Business highlights by BA 14
Slide 15: Ventilation
lindab | group presentation Ventilation New Flexi-shop, self-service branch, in Brussels, Belgium (total 6) Synergies with Building Systems for industrial ventilation solutions. Two orders in Belarus totalling SEK 14 m. 15
Slide 16: Building Components
lindab | group presentation Building Components Integration of sandwich panel production and project sales proceeding well – 48 people – Burglar-resistant sandwich panel launched Efficiency improvement – Slovakia – move from rented facilities to own renovated facility with production, warehouse
Slide 17: Building Systems
lindab | group presentation Building Systems Focus Russia/CIS continues – including 2 large orders totalling SEK 80 m New smaller building concept development finalised – to be launched in early 2013 17
Slide 18: Trends and outlook
lindab | group presentation Trends and outlook 18
Slide 19: Steel spot prices – reduced during Q2
lindab | group presentation Steel spot prices – reduced during Q2 Moderate steel cost reductions expected for Q3 purchases for Lindab, but levels will remain above Q1 19
Slide 20: Market indicators - Euroconstruct
lindab | group presentation Market indicators - Euroconstruct Euroconstruct’s June forecast was revised downwards from the previous November 2011 report Main downward revisions affecting Lindab are the Swedish market, particularly residential, and the CEE region: largest revisions for Building C
Slide 21: Outlook - CEO comment
lindab | group presentation Outlook - CEO comment “The markets are expected to remain weak in the months ahead. However, Lindab’s performance will be supported by the accelerating impact of the SEK 150 million cost saving plan that is now largely implemented. Longer term, the macro economic forecast
Slide 22: Other information
lindab | group presentation Other information Capital Markets Day 2012 – August 23, 2012, Grevie, Båstad – Contact Helena Stacey: helena.stacey@lindab.com 22
Slide 23: Thank You
Thank You waa]