Lindab International Ab · OMXSTO:LIAB

Lindab International Ab — Q1 2013 Earnings Presentation

31 slides from Lindab International Ab's earnings presentation, 2013

  1. Slide 1: Lindab Group Q1 2013

    lindab | we simplify construction Lindab Group Q1 2013 Anders Berg, CEO Per Nilsson, CFO

  2. Slide 2: Lindab Group – Q1 2013 Highlights

    lindab | group presentation Lindab Group – Q1 2013 Highlights Weak sales in a traditionally slow quarter  Sales decreased 10% in Q1 compared to last year, adjusted for currency and structure - By BA: Ventilation -9%; Building Components -15%; Building Systems -11%  EBIT (excluding one-off items) d

  3. Slide 3: Lindab Group – Q1 2013 Highlights

    lindab | group presentation Lindab Group – Q1 2013 Highlights Weak sales in a traditionally slow quarter  New CEO Anders Berg took office March 18th  Initiative to further develop Lindab based on the concept “Back to Basics – Into the future” – Presented, discussed and strongly committed with top

  4. Slide 4: Lindab Group Profit & Loss Q1 2013 - Group

    lindab | group presentation Lindab Group Profit & Loss Q1 2013 - Group SEK m Q1 2013 Q1 2012 Sales growth -9% Sales 1,341 1,479 Structure 4% EBIT* 13 30 EBIT* % 1.0 2.0 Currency effect -3% Fin net -33 -39 Organic -10% Tax -2 1 Net profit -28 -46 *) EBIT excluding one-off items of SEK -6 m in Q1 2013

  5. Slide 5: Lindab Group Quarterly operating profit (EBIT) SEK m

    lindab | group presentation Lindab Group Quarterly operating profit (EBIT) SEK m Quarter Rolling 12 month 300 1200 212 190 200 172 800 145 135 135 110 97 105 75 107 100 400 25 34 0 0 -7 30 13 -50 -100 -400 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2009 2010 2011 2012 2013 Quarterly LTM  Se

  6. Slide 6: Lindab Group Cash flow Q1 2013

    lindab | group presentation Lindab Group Cash flow Q1 2013 SEK m Q1 2013 Q1 2012 Cash flow from - operating activities 45 35 - change in working capital -21 -64 - investing activities -28 -95 - financial net paid -29 -34 - tax paid 8 -27 Free cash flow -25 -185 Adjusted free cash flow -15 -135  Net

  7. Slide 7: Cash flow Q1 – working capital development

    lindab | group presentation Lindab Group Cash flow Q1 – working capital development SEK m Q1 2013 Q1 2012 Stock -140 -78 Operating receivables -51 -26 Operating liabilities 170 40 Total change in working capital -21 -64  The higher stock built up compared to last year is explained by the cold seaso

  8. Slide 8: Lindab Group Cash flow trend

    lindab | group presentation Lindab Group Cash flow trend Operating cash flow, SEK m Quarter Rolling 12 month 600 800 500 600 400 332 329 324 300 245 252 400 172 217 192 200 115 67 97 200 100 23 3 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 Q3 Q4 Q1 2009

  9. Slide 9: Steel spot prices – flattened out in Q1

    lindab | group presentation Steel spot prices – flattened out in Q1  Small increase from Q4 flattened out in Q1  Moderate steel cost increases expected for Lindab in Q2 9

  10. Slide 10: Business Areas

    lindab | group presentation Business Areas 10

  11. Slide 11: BA Ventilation Profit & Loss Q1 2013

    lindab | group presentation BA Ventilation Profit & Loss Q1 2013 SEK m Q1 2013 Q1 2012 Sales growth -7% Structure 5% Sales 841 909 EBIT* 52 66 Currency effect -3% EBIT* % 6.2 7.3 Organic -9% *) excluding one-off items of SEK -3 m in Q1 2013 and SEK -16 m in Q1 2012  Lower volumes due to lower deman

  12. Slide 12: BA Building Components Profit & Loss Q1 2013

    lindab | group presentation BA Building Components Profit & Loss Q1 2013 SEK m Q1 2013 Q1 2012 Sales growth -11% Structure 6% Sales 327 367 EBIT -31 -12 Currency effect -2% EBIT % -9.5 -3.3 Organic -15% *) excluding one-off items of SEK -1 m in Q1 2013 and SEK 0 m in Q1 2012  Low demand in all regi

  13. Slide 13: BA Building Systems Profit & Loss Q1 2013

    lindab | group presentation BA Building Systems Profit & Loss Q1 2013 SEK m Q1 2013 Q1 2012 Sales growth -15% Structure 0% Sales 173 203 EBIT 0 -10 Currency effect -4% EBIT % 0.0 -4.9 Organic -11% *) excluding one-off items of SEK 0 m in Q1 2013 and SEK -19 m in Q1 2012  Sales declined in Western E

  14. Slide 14: Back to basics – into the future

    lindab | group presentation Back to basics – into the future 14

  15. Slide 15: Back to Basics - into the Future

    lindab | group presentation Back to Basics - into the Future Strong foundations - new mind-set  Organic growth – comprehensive action programme with enhanced execution focus  Operational leverage  Cost programme continues - strive for enhanced effectiveness and productivity  Release creativity a

  16. Slide 16: Back to Basics - into the Future

    lindab | group presentation Back to Basics - into the Future Strong foundations - new mind-set  Customers success drives our success – excellent feedback from customers on what Lindab brings to their business  Further strengthen distribution  Use proven strength in Lindab’s business model to ” ex

  17. Slide 17: Organic Growth

    lindab | group presentation Organic Growth 17

  18. Slide 18: Multi brand – Multi channel approach

    lindab | group presentation Multi brand – Multi channel approach To change nothing – nothing improves  Premium solutions and brand – Lindab!  Local business tailored to individual customers with full support of Lindab Group  Relaunch of two strong brands and concepts: Lindab Systemline (small ste

  19. Slide 19: Customer success drives our success

    lindab | group presentation The core business fundamentals Lindab’s business idea = support our customers to success  Close to the customer – ”simplify shopping”  Deliver more value to customers  Add products (develop sourcing and product development)  Expand distribution in Nordics – explore ne

  20. Slide 20: Business highlights from Q1 2013

    lindab | group presentation Business highlights from Q1 2013  Tough market with harsh weather conditions – outlook continue to be uncertain – it is up to us – Air duct systems successful start-up in Russia – Important customer agreements (Sweden, Norway) both ADS and Comfort products – Enhanced e-b

  21. Slide 21: Significant Operating Leverage

    lindab | group presentation Significant Operating Leverage 21

  22. Slide 22: Platform for growth and increased profitability

    lindab | group presentation Platform for growth and increased profitability  Cost programme continues  Easy to ramp up production - ”world-class” efficient production units  Develop further synergies (purchasing, sourcing, distribution, best- practice, ERP)  Several main restructuring activities

  23. Slide 23: Cost programme on track towards new target 300 m

    lindab | group presentation Cost programme on track towards new target 300 m  Additional activities for example: – Restructuring in Finland – Restructuring in low-performing units CEE and WE – Optimising admin and back-office – HQ reduction  One-time costs approx. SEK 170 m. Total SEK 120 m record

  24. Slide 24: Innovation in Q1 2013

    lindab | group presentation Innovation in Q1 2013 24

  25. Slide 25: Launch of Lindab Solo – a revolution in chilled beams

    lindab | group presentation Launch of Lindab Solo – a revolution in chilled beams  Documented to save up to 45 % cooling energy  Installation and investment savings  Maintenance and running costs savings  Very well received 25

  26. Slide 26: Outlook

    lindab | group presentation Outlook 26

  27. Slide 27: Market developments

    lindab | group presentation Market developments  Overall fairly weak in our core markets  Main positives since autumn from a Lindab perspective: – Downward risk reduced – “we see a floor that we can build from”  Important for shortening the lead time for investment decisions amongst customers – S

  28. Slide 28: Highly committed teams to focus on growth activities

    lindab | group presentation Lindab going forward  Highly committed teams to focus on growth activities - build on strong platform and monitor key metrics including ROCE  Dare to think in new ways - continuous improvement and growth  Turn our expertise into concrete plans and activities  Motivati

  29. Slide 29: The fundamentals are in place – and have been there a long time

    lindab | group presentation The fundamentals are in place – and have been there a long time Culture fuels growth CUSTOMER SUCCESS DOWN TO EARTH NEATNESS AND ORDER  Long-lasting relations  Customers success built on uncomplicated,  Neat and clean drives our success humble and trustworthy everywher

  30. Slide 30: Other information: Annual General Meeting

    lindab | group presentation Other information: Annual General Meeting 15 May, Lindab Arena, Ängelholm, 2 p.m. CET  Proposals: – Zero-dividend – No new incentive programme 30

  31. Slide 31: lindab | group presentation

    lindab | group presentation 31

Lindab International — Q1 2013 Earnings Presentation on 6ix