Lindab International Ab · OMXSTO:LIAB
Lindab International Ab — Q3 2023 Earnings Presentation
14 slides from Lindab International Ab's earnings presentation, Oct 26, 2023
Slide 1: Lindab Group Q3 report 2023
For a better climate TM Lindab Group Q3 report 2023 26 October 2023 Ola Ringdahl President & CEO Lars Ynner CFO
Slide 2: Q3 highlights
Q3 highlights Strong profitability in a challenging market Q3/23 Q3/22 • Highest Q3 sales for Lindab Group and Ventilation Systems. • The operating margin has gradually improved Sales (SEK m) 3,251 3,239 quarter by quarter. Organic growth -11% +7% • In Q3, Ventilation Systems and Profile Acquired gr
Slide 3: Ventilation revenue is growing as share of total revenue
Ventilation revenue is growing as share of total revenue Sales per quarter, SEK m SEK m Ventilation Systems SEK m Lindab Group SEK m Profile Systems Sales, SEK m Comparison numbers exclude the divested business area Building Systems.
Slide 4: Both business areas above 10% operating margin in Q3
Both business areas above 10% operating margin in Q3 Adj. EBIT and margin per quarter SEK m Ventilation Systems % SEK m Lindab Group % SEK m Profile Systems % Adj. EBIT, SEK m Adj. EBIT, % Comparison numbers exclude the divested business area Building Systems.
Slide 5: Strong cash flow supports continued growth
Strong cash flow supports continued growth Strong cash flow Cash flow from operating activities • Cash flow from operating activities increased to +106% 444 SEK m SEK 444 m (216) in Q3. • Cash flow from operating activities R12M increased to SEK 1,649 m (379). • The improved cash flow mainly relates
Slide 6: Net debt
Net debt • Net debt amounted to SEK 3,334 m (3,310), 2.0 Net debt / EBITDA Financial Net debt / EBITDA 1.4 of which SEK 1,341 m (1,116) is related to leasing liabilities. • Net debt/EBITDA amounted to 2.0 (1.3). (Financial) Net debt /EBITDA MSEK • Financial Net debt/EBITDA amounted to 2.5 4,000 1.4
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 flow Focus on fewer markets and With the investment program was used to pay off debts and get product areas. Investments in implemented and
Slide 9: Short term focus areas
Short term focus areas Profitability and Competitive Efficiency from Sustainability Benefits from cost control products investments improvements acquisitions Implement actions to Increased focus on Ensure that the Increase the pace Improve support to reduce sensitivity to R&D and product implemented
Slide 10: Investments to increase efficiency, capacity and safety
Investments to increase efficiency, capacity and safety • SEK 68 m (72) invested in Q3, with attractive payback. • No new major investment decisions planned. Roll-out of current program will continue into 2024. • The investment level in 2025 is expected to be approximately SEK 250 m. Gross investmen
Slide 11: Acquisitions of high-quality companies
Acquisitions of high-quality companies Acquired revenue • Five acquisitions in 2023. per business area, since 2020 MSEK • HAS-Vent was acquired in 3000 October, just after end of quarter. 2500 • 22 acquisitions in total since 2020, adding SEK 3 billion in 2000 revenue. 1500 • Divestment of SEK 1.3 b
Slide 12: Lindab first in the world with ventilation ducts in fossil-free steel and recycled steel
Lindab first in the world with ventilation ducts in fossil-free steel and recycled steel • Lindab now offers ventilation ducts made from recycled steel as part of its standard product range. • As one of few companies in the world, Lindab will receive a test delivery of fossil-free steel from SSAB th
Slide 13: Market outlook
Market outlook Market outlook • The European ventilation market is estimated to have declined by 5% YTD. • We are prepared that it may take 12 months before the market recovers, as the impact of increased interest rates is spreading throughout Europe. • Medium and long-term demand outlook for ventil
Slide 14: Thank you! Questions?
©lLindab’ Thank you! Questions?