Lindab International Ab · OMXSTO:LIAB
Lindab International Ab — Q2 2015 Earnings Presentation
36 slides from Lindab International Ab's earnings presentation, 2015
Slide 1: Lindab Group Q2 2015
lindab | we simplify construction Lindab Group Q2 2015 “We simplify construction” 1
Slide 2: Highlights
lindab | we simplify construction Highlights 2
Slide 3: Lindab Group – Q2 2015 Highlights
lindab | we simplify construction Lindab Group – Q2 2015 Highlights Growth despite challenges Sales increased by 9% compared to last year, 3% when adjusted for currency and structure. ─ Products & Solutions: 10% (3% adjusted) ─ Building Systems: -2% (3% adjusted) EBIT amounted to SEK 110 m in Q2
Slide 4: Lindab Group – Q2 2015 Highlights
lindab | we simplify construction Lindab Group – Q2 2015 Highlights Growth despite challenges The transformation into a fully integrated company gaining momentum. ─ Strengthening the offering for complete ventilation solutions with IMP Klima, Nather and MP3 ─ Laying the foundations for an improved
Slide 5: Two different stories, rolling 12 months
lindab | we simplify construction Lindab Group Two different stories, rolling 12 months Products & Solutions Building Systems Sales & EBIT EBIT Sales & EBIT +59 Sales EBIT MSEK Sales 12m EBIT 12m (+14%) +635 MSEK Sales 12m EBIT 12m -108 (+11%) (-78%) 6,500 500 1,100 200 119 139 6,000 418 426 420 900
Slide 6: Financials
lindab | we simplify construction Financials 6
Slide 7: Profit & Loss Q2 2015
lindab | we simplify construction Lindab Group Profit & Loss Q2 2015 SEK m Q2 2015 Q2 2014 Sales 1,907 1,757 Sales growth 9% EBIT* 110 125 Structure 3% EBIT* % 5.8 7.1 Currency effect 3% Fin net -7 -13 Organic 3% Tax -35 -29 Net profit 68 82 *) EBIT excluding one-off items of SEK 0 m in Q2 2015 and
Slide 8: Financial net
lindab | we simplify construction Lindab Group Financial net Financial net as % of Net debt Significantly lower financing costs Actual % as a result of the new credit Actual adj. for release of old agreement costs 10 agreement, with better terms and lower credit limit. 8 6 The increase in Februa
Slide 9: Cash flow Q2 2015
lindab | we simplify construction Lindab Group Cash flow Q2 2015 SEK m Q2 2015 Q2 2014 Cash flow from - operating activities 175 157 - change in working capital 22 -34 - investing activities -35 -35 - financial net paid -7 -13 - tax paid -30 -22 Free cash flow 125 53 Adjusted free cash flow* 135 53
Slide 10: Cash flow Q2 – working capital development
lindab | we simplify construction Lindab Group Cash flow Q2 – working capital development SEK m Q2 2015 Q2 2014 Stock 44 -31 Operating receivables -85 -142 Operating liabilities 63 139 Total change in working capital 22 -34 The change in stock is attributable to active work to increase the stock t
Slide 11: Operating cash flow trend
lindab | we simplify construction Lindab Group Operating cash flow trend Quarterly L12M (MSEK) Quarterly L12M (MSEK) 500 1.000 400 800 300 600 217 200 160 400 97 88 100 67 200 26 0 0 -100 -200 -200 -400 -300 -600 2010 2011 2012 2013 2014 2015 L12M cash flow from operating activities amounted to SE
Slide 12: Segments
lindab | we simplify construction Segments 12
Slide 13: Products & Solutions Profit & Loss Q2 2015
lindab | we simplify construction Products & Solutions Profit & Loss Q2 2015 SEK m Q2 2015 Q2 2014 Sales growth 10% Structure 3% Sales 1,699 1,545 EBIT* 132 120 Currency effect 4% EBIT* % 7.8 7.8 Organic 3% *) excluding one-off items of SEK 0 m in Q2 2015 and SEK 0 m in Q2 2014 In the Nordic regio
Slide 14: Building Systems Profit & Loss Q2 2015
lindab | we simplify construction Building Systems Profit & Loss Q2 2015 SEK m Q2 2015 Q2 2014 Sales growth -2% Structure 0% Sales 208 212 EBIT* -3 16 Currency effect -5% EBIT* % -1.4 7.5 Organic 3% *) excluding one-off items of SEK 0 m in Q2 2015 and SEK -1 m in Q2 2014 The higher sales in the qu
Slide 15: Sales development by product areas
lindab | we simplify construction Sales development by product areas Products & Solutions, Organic growth, L3M Building Systems, Organic growth, L3M Ventilation Products Indoor Climate Solutions Rainwater & Building Products Building Solutions 60% 30% 45% 20% 30% 10% 15% 0% 0% -10% -15% -20% -30% Ju
Slide 16: Products & Solutions showcase project in Q2
lindab | we simplify construction Showcase project in Q2 Products & Solutions ELI-ALPS research facility being built in Szeged, Hungary will provide a wide range of ultrafast light sources for the scientific community. The project has the highest tightness requirements for ventilation, class D. So f
Slide 17: Building Systems showcase projects in Q2
lindab | we simplify construction Showcase projects in Q2 Building Systems Large orders >10 MSEK: • Manufacturing, Cevital, SEK 70 m, 280,000m², Algeria • Data centre, Yandex, SEK 34 m, 5.000m², Russia (pictured top) • Manufacturing, assembly-line, Airbus Helicopters, SEK 16 m, 8,120m², Romania (pic
Slide 18: Outlook
lindab | we simplify construction Outlook 18
Slide 19: Market Development
lindab | we simplify construction Market Development Forecast: European construction market Source: Euroconstruct (Jun -15) 3 2,7 2,4 Continued slow economic recovery in Europe. 2 1,4 1,9 1,7 2,0 2,0 Real growth (%) 1 0,6 Euroconstruct forecast the European construction 0 market for buildings to
Slide 20: Strategy update
lindab | we simplify construction Strategy update
Slide 21: Strong internal commitment, a prerequisite for success
lindab | we simplify construction Seeing is believing - the effects of choosing a strategy Strong internal commitment, a prerequisite for success Strategy Workshop in Grevie 21
Slide 22: Further development of Lindab's distribution with new conceptual approach
lindab | we simplify construction Further development of Lindab’s distribution with new conceptual approach Mapping of all transactions identified opportunities Before: Analysis of internal transaction flow in ”old • Challenge to coordinate business areas” where supply chain factories serve as ”dist
Slide 23: Establishment of distribution center
lindab | we simplify construction Further development of the distribution in Lindab with new conceptual approach Establishment of distribution center 23 = Lindab branch = Lindab production = external supplier = Lindab Distribution Center
Slide 24: Transformation into a fully integrated company
lindab | we simplify construction New focus same basics Transformation into a fully integrated company Additions that take us a step … to capturing trends and fulfilling further … customers’ needs … … and bringing more value to more people.
Slide 25: Strengthening solutions – acquisition of IMP Klima
lindab | we simplify construction Strengthening solutions – acquisition of IMP Klima Transformation into a fully integrated company Strategic acquisition of Slovenian IMP Klima adding important competence i.a. within Air Air distribution lab Handling Units and strengthening market positions. Strong
Slide 26: Strengthening solutions – acquisition of IMP Klima
lindab | we simplify construction Strengthening solutions – acquisition of IMP Klima Transformation into a fully integrated company Klimatec: (AHU) non residential program, the newest AHU have very good technical performance according to the Eurovent certifications • Acquisition of IMP Klima, founde
Slide 27: Strengthening our market position – acquisition of Nather
lindab | we simplify construction Strengthening our market position – acquisition of Nather Adding Residential Ventilation in France and neighbouring countries • Strong competence in residential ventilation solutions. • Located near Lyon area, France, 17 employees, t/o SEK 45 m. • Flagship product:
Slide 28: MP3 Integration on plan
lindab | we simplify construction Strengthening Solutions – a perfect strategic fit MP3 Integration on plan Structured introduction process including technical and commercial training. Five countries active and five more well underway. “Lindab now proudly presents fire protection expertise as part o
Slide 29: Additions of many new exciting products
lindab | we simplify construction More choices and opportunities for our customers already now in 2015 Additions of many new exciting products Fire dampers AHU Fan boxes Air diffusion Air diffusion Residential ventilation Smoke evacuation Floor convectors systems Clean room technology Chillers and f
Slide 30: Always Close – Always Available
lindab | we simplify construction Always Close – Always Available Improved webshop launched in 5 countries • Simplified, modern layout • Effective, smart search • Open for all visitors • UK, Sweden, Denmark, Norway and Finland “Always close, always available. Simplifying ways of working and purchasi
Slide 31: Innovations for Customer Success
lindab | we simplify construction Innovations for Customer Success Munio - Climate Refurbishment panel Lindab Art Designer solution for hotels • Mounted on existing • Design perforated on • Compact with high surface façade cassettes cooling capacity • Insulates, protects, • Customised design • Easy
Slide 32: Coming Soon… Lindab Acoustic Tools
lindab | we simplify construction Software Development - Strategic Product Management Coming Soon… Lindab Acoustic Tools An app to measure 32
Slide 33: Coming Soon… TeknoSIM 5.0
lindab | we simplify construction Software Development – Strategic Product Management Coming Soon… TeknoSIM 5.0 A tool to simulate Indoor Climate 33
Slide 34: LindQST.com
lindab | we simplify construction Software Development – Strategic Product Management LindQST.com Always up-to-date online quick selection Tool to find, calculate and simulate 34
Slide 35: Coming Soon - CADvent 7.0
lindab | we simplify construction Software Development – Strategic Product Management Coming Soon - CADvent 7.0 Tool to design and calculate ventilation solutions 35
Slide 36: Thank You Q&A
lindab | we simplify construction Thank You Q&A 36