Lindab International Ab · OMXSTO:LIAB

Lindab International Ab — Q4 2013 Earnings Presentation

28 slides from Lindab International Ab's earnings presentation, 2014

  1. Slide 1: Lindab Group Q4 2013

    lindab | we simplify construction Lindab Group Q4 2013 Anders Berg, CEO Per Nilsson, CFO

  2. Slide 2: Lindab Group – Q4 2013 Highlights

    lindab | we simplify construction Lindab Group – Q4 2013 Highlights A firmer footing  Sales increased 8% compared to last year when adjusted for currency.  EBIT (excluding one-off items) increased to SEK 158 m in Q4 compared to SEK 105 m last year ─ EBIT margin increased to 8.8% (6.3).  Cash flow

  3. Slide 3: Lindab Group – Q4 2013 Highlights

    lindab | we simplify construction Lindab Group – Q4 2013 Highlights A firmer footing  Continuing our “Back to Basics – Into the Future” journey ─ ONE Lindab – new organisation structure in place ─ Flat geographical structure supported by product areas ─ Implementation of action programme continues

  4. Slide 4: Group Profit & Loss Q4 2013

    lindab | we simplify construction Lindab Group Profit & Loss Q4 2013 SEK m Q4 2013 Q4 2012 Sales growth 7% Sales 1,786 1,667 Structure 0% EBIT* 158 105 EBIT* % 8.8 6.3 Currency effect -1% Fin net -28 -34 Organic 8% Tax -27 -4 Net profit 99 2 *) EBIT excluding one-off items of SEK -4 m in Q4 2013 and

  5. Slide 5: 2012 - 2013: weakened sales; increased efficiency

    lindab | we simplify construction 2012 - 2013: weakened sales; increased efficiency Sales 12m EBIT 12m EBIT 12m EBIT Sales 12m (MSEK) +12% (MSEK) 498 500 7,250 460 443 440 445 450 407 7,000 Sales 400 6,750 -7% 347 350 6,500 301 300 6,250 250 6,000 0 2009 2010 2011 2012 2013  EBIT LTM SEK 498 m, EBI

  6. Slide 6: Group Cash flow Q4 2013

    lindab | we simplify construction Lindab Group Cash flow Q4 2013 SEK m Q4 2013 Q4 2012 Cash flow from - operating activities 171 116 - change in working capital 323 160 - investing activities -35 -41 - financial net paid -19 -43 - tax paid -20 -41 Free cash flow 420 151 Adjusted free cash flow* 426

  7. Slide 7: Cash flow Q4 – working capital development

    lindab | we simplify construction Lindab Group Cash flow Q4 – working capital development SEK m Q4 2013 Q4 2012 Stock 141 169 Operating receivables 249 275 Operating liabilities -67 -284 Total change in working capital 323 160  The improved cash flow from change in working capital is mainly due to

  8. Slide 8: Operating cash flow trend

    lindab | we simplify construction Lindab Group Operating cash flow trend Quarterly 12m Quarterly Rolling 12m (MSEK) (MSEK) 500 455 800 400 600 324 300 252 400 192 200 200 100 0 0 -200 -100 -200 -400 -300 -600 2010 2011 2012 2013  LTM cash flow from operating activities amounted to SEK 620 m

  9. Slide 9: Refinancing

    lindab | we simplify construction Lindab Group Refinancing  Previous facility  SEK 2,800 m, 3 year revolving credit facility incl. overdrafts and guarantee facilities with Nordea and SHB  New facility  SEK 1,600 m, 3 year revolving credit facility with SEB and Nordea  SEK 500 m, 5 year term loa

  10. Slide 10: Financial net L12M trend

    lindab | we simplify construction Lindab Group Financial net L12M trend Financial net as % of Net debt % 9,0 8,5 8,0 7,5 7,0 6,5 6,0 5,5 5,0 Dec Dec Dec 2011 2012 2013  2013 (LY): – L12M average Net debt: 2 033 MSEK (2 128) – L12M Financial net: -123 MSEK (-156) 10

  11. Slide 11: Business Areas

    lindab | we simplify construction Business Areas 11

  12. Slide 12: BA Ventilation

    lindab | we simplify construction BA Ventilation Profit & Loss Q4 2013 SEK m Q4 2013 Q4 2012 Sales growth 3% Structure 0% Sales 899 876 EBIT* 62 43 Currency effect 0% EBIT* % 6.9 4.9 Organic 3% *) excluding one-off items of SEK -3 m in Q4 2013 and SEK -11 m in Q4 2012  Sales increased in the quarte

  13. Slide 13: BA Building Components

    lindab | we simplify construction BA Building Components Profit & Loss Q4 2013 SEK m Q4 2013 Q4 2012 Sales growth 6% Structure 0% Sales 565 533 EBIT* 30 29 Currency effect 0% EBIT* % 5.3 5.4 Organic 6% *) excluding one-off items of SEK -1 m in Q4 2013 and SEK -20 m in Q4 2012  Sales were clearly hi

  14. Slide 14: BA Building Systems

    lindab | we simplify construction BA Building Systems Profit & Loss Q4 2013 SEK m Q4 2013 Q4 2012 Sales growth 25% Structure 0% Sales 322 258 EBIT* 71 38 Currency effect -3% EBIT* % 22.0 14.7 Organic 28% *) excluding one-off items of SEK 0 m in Q4 2013 and SEK -4 m in Q4 2012  Strong sales in the l

  15. Slide 15: Growth – Operations – Innovation

    lindab | we simplify construction Growth – Operations – Innovation

  16. Slide 16: Back to Basics – Into the Future

    lindab | we simplify construction Back to Basics – Into the Future  Organic growth Comprehensive action programme  Operational leverage Effeciency and controlled cost levels  Innovation Release creativity, speed and execution 16

  17. Slide 17: Profitable Growth: One Lindab = One bottom line

    lindab | we simplify construction Profitable Growth: One Lindab = One bottom line

  18. Slide 18: Q4 Organic Growth Activities

    lindab | we simplify construction Q4 Organic Growth Activities Distribution:  Branch in Malmö, Sweden, moved to brand new premises  Opened own stock/distribution center in Istanbul, Turkey  Renewed 2-year distribution agreement with the largest Builders’ merchant chain in Scandinavia, XL-Bygg Pro

  19. Slide 19: Example 2013 – French Ministery of Defense

    lindab | we simplify construction Example 2013 – French Ministery of Defense Lindab’s largest order for ventilation system in France, approx. SEK 10 m  High quality & full package ADS/ICS  Innovative solution (click- fastening ducts)  Technical knowledge and customer care. 19

  20. Slide 20: Operating Leverage

    lindab | we simplify construction Operating Leverage 20

  21. Slide 21: Simplifying Operations

    lindab | we simplify construction Simplifying Operations Example 2013: Bringing production of Lindab rubber gaskets in- house with a 4 month payback on investment  Improved quality  improved lead-times Inhouse rubber gasket production in Warszaw, Poland  full cost control  better working environ

  22. Slide 22: Innovation

    lindab | we simplify construction Innovation 22

  23. Slide 23: Atrium Plana – discreet heating / cooling panel

    lindab | we simplify construction Atrium Plana – discreet heating / cooling panel  Launched early 2013  Outstanding capacity  Extremely low weight  Sleek and soft design  Available for any ceiling type Example Q4:  Contract for 1,000 units/year for Cramo’s modular buildings 23

  24. Slide 24: Lindab Pascal, VAV–system made simple

    lindab | we simplify construction Lindab Pascal, VAV–system made simple  Upraded and improved The Malmö office building “Fullriggaren” was awarded first prize by the Swedish green building in 2013 council. Also EU Green Building classified  fulfils the toughest demands on an energy- saving ventila

  25. Slide 25: EcoBuild App – easy configuration of a new building

    lindab | we simplify construction EcoBuild App – easy configuration of a new building  Application available on website, tablets and mobile-phones:  Since the launch in Q3: 3,000 downloads  Generates on average 10 quotation requests/day  Some EcoBuild leads turned into larger Astron buildings 25

  26. Slide 26: Outlook

    lindab | we simplify construction Outlook 26

  27. Slide 27: Market Outlook

    lindab | we simplify construction Market Outlook  Economic recovery gaining momentum in Europe but still many uncertainties in the macro-economic outlook  Lindab’s business late cyclical, particularly ventilation business  Confidence clearly improving in construction market, though from low level

  28. Slide 28: lindab | we simplify construction

    lindab | we simplify construction

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