Lindab International Ab · OMXSTO:LIAB
Lindab International Ab — Q1 2015 Earnings Presentation
30 slides from Lindab International Ab's earnings presentation, 2015
Slide 1: Lindab Group Q1 2015
lindab || we lindab we simplify simplify construction construction Lindab Group Q1 2015 “We simplify construction” 1
Slide 2: Highlights
lindab | we simplify construction Highlights 2
Slide 3: Lindab Group – Q1 2015 Highlights
lindab | we simplify construction Lindab Group – Q1 2015 Highlights Our growth keeps momentum Sales increased by 12% compared to last year, or 5% when adjusted for currency and structure. ─ Products & Solutions: 15% (6% adjusted) ─ Building Systems: -8% (4% adjusted) EBIT amounted to SEK 54 m in
Slide 4: Lindab Group – Q1 2015 Highlights
lindab | we simplify construction Lindab Group – Q1 2015 Highlights Our growth keeps momentum The New Strategy is yielding results. ─ ONE Lindab organisation – addition of two supporting product areas “Air Movement” and “Fire and Smoke”. ─ Further progress within Operational efficiency. ─ Further
Slide 5: Financials
lindab | we simplify construction Financials 5
Slide 6: Lindab Group Profit & Loss Q1 2015
lindab | we simplify construction Lindab Group Profit & Loss Q1 2015 SEK m Q1 2015 Q1 2014 Sales 1,694 1,506 Sales growth 12% EBIT* 54 60 Structure 3% EBIT* % 3.2 4.0 Currency effect 4% Fin net -13 -37 Organic 5% Tax -14 -6 Net profit 27 14 *) EBIT excluding one-off items of SEK 0 m in Q1 2015 and S
Slide 7: 2012 - 2015: increased sales; increased efficiency
lindab | we simplify construction 2012 - 2015: increased sales; increased efficiency Sales 12m EBIT 12m EBIT 12m Sales 12m (MSEK) (MSEK) EBIT 600 +11% 7,250 545 Sales 550 +3% 7,000 500 491 444 443 6,750 450 400 390 6,500 350 6,250 300 6,000 250 226 0 2010 2011 2012 2013 2014 2015 EBIT L12M SEK 491
Slide 8: Lindab Group Financial net
lindab | we simplify construction Lindab Group Financial net Financial net as % of Net debt % Actual Significantly lower financing costs as Actual adj. for release of old agreement costs a result of the new credit agreement, 10 with better terms and lower credit 8 limit. 6 The increase in Februa
Slide 9: Lindab Group Cash flow Q1 2015
lindab | we simplify construction Lindab Group Cash flow Q1 2015 SEK m Q1 2015 Q1 2014 Cash flow from - operating activities 67 67 - change in working capital -124 -244 - investing activities -174 -178 - financial net paid -6 -20 - tax paid -20 -29 Free cash flow -257 -404 Adjusted free cash flow* -
Slide 10: Cash flow Q1 – working capital development
lindab | we simplify construction Lindab Group Cash flow Q1 – working capital development SEK m Q1 2015 Q1 2014 Stock -58 -124 Operating receivables -136 -87 Operating liabilities 70 -33 Total change in working capital -124 -244 The change in operating receivables is explained by stronger sales in
Slide 11: Lindab Group Operating cash flow trend
lindab | we simplify construction Lindab Group Operating cash flow trend Quarterly Quarterly L12M L12M (MSEK) (MSEK) 500 800 400 600 300 400 200 200 100 3 0 0 -200 -100 -83 -90 -200 -400 -172 -239 -226 -300 -600 2010 2011 2012 2013 2014 2015 L12M cash flow from operating activities amounted to SEK
Slide 12: Segments
lindab | we simplify construction Segments 12
Slide 13: Products & Solutions Profit & Loss Q1 2015
lindab | we simplify construction Products & Solutions Profit & Loss Q1 2015 SEK m Q1 2015 Q1 2014 Sales growth 15% Structure 3% Sales 1,528 1,325 EBIT* 73 71 Currency effect 6% EBIT* % 4.8 5.4 Organic 6% *) excluding one-off items of SEK 0 m in Q1 2015 and SEK -3 m in Q1 2014 All regions within t
Slide 14: Building Systems Profit & Loss Q1 2015
lindab | we simplify construction Building Systems Profit & Loss Q1 2015 SEK m Q1 2015 Q1 2014 Sales growth -8% Structure 0% Sales 166 181 EBIT* -5 -3 Currency effect -12% EBIT* % -3.0 -1.7 Organic 4% The higher sales in the quarter, adjusted for currency, are explained by large project deliveries
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 Building Product Building Solutions 60% 30% 45% 20% 30% 10% 15% 0% 0% -10% -15% -20% -30% Mar Mar Mar Mar
Slide 16: Outlook
lindab | we simplify construction Outlook 16
Slide 17: Market Development
lindab | we simplify construction Economic development in Euro zone Sources: Eurostat & European Comission Market Development The slow recovery of the European economy continues; stronger within consumer business than industrial business. GDP is expected to grow with 1.8% in the EU, but to decli
Slide 18: Strategy update
lindab | we simplify construction Strategy update
Slide 19: Optimising the flows
lindab | we simplify construction Optimising the flows Improved manufacturing footprint • In Czech Republic, Ventilation manufacturing will be focused to Karlovarska and Building products manufacturing to Hustopece. • Restructuring in Finland by closing Building products manufacturing in Kyyjärvi an
Slide 20: New branches and sales offices
lindab | we simplify construction New branches and sales offices • Brno, Czech Republic. ”Always close, always available.” • Krakow, Poland. • Sollentuna, Sweden. Owning our distribution means closer • Dubai, United Emirates, new relations to our customers, keeping a rep.office. finger on the pulse
Slide 21: We are serious about customer success
lindab | we simplify construction We are serious about customer success • Supplier of the Year Awards: In Sweden by XL-Bygg. In Denmark by the trade association, Danske Byggecentre. "We put high demands on ourselves to provide success for our customers, that is why it is particularly nice when custo
Slide 22: Solutions to create a safe environment
lindab | we simplify construction Solutions to create a safe environment Smoke Control Ventilation is a matter of human safety. “The strategic Lindab Smoke Control acquisition of MP3 is Systems are ready to install strengthening the in: • Hospitals, Care homes product offering and • Hotels, shopping
Slide 23: Indoor Climate Solutions Success
lindab | we simplify construction Indoor Climate Solutions Success • Sleek design with excellent heating and cooling properties makes Atrium Plana an architect favourite. Wider range launched in Q1. • Germany received its largest chilled beam order to date in the quarter, worth over SEK 4 m. Solus c
Slide 24: Making it easier for consultants
lindab | we simplify construction Making it easier for consultants Our project planning software, LindQST, makes it easy to visualise and plan the project. It’s an advanced web tool to simplify the choice of our air and waterborne products. Now upgraded with a 3D project simulator. All documentation
Slide 25: Organisation to deliver on the Strategy
lindab | we simplify construction Organisation to deliver on the Strategy 25
Slide 26: Building Systems - Activities
lindab | we simplify construction Building Systems - Activities Joint Sales Activites Africa Focus – section Best Young Astron and Lindab in on website. Researcher: Russia. Energy Efficiency in buildings. 26
Slide 27: Building Systems - Activities
lindab | we simplify construction Building Systems - Activities Large shipments for Kazakhstan Astron roof system LMR600 won multifunctional base for drilling services TopBuilder 2015 award for boosted the quarter. innovative solution. 27
Slide 28: Lindab can also be a source of inspiration…
lindab | we simplify construction Lindab can also be a source of inspiration… Some creative examples from customers… The Lindab ”Lindab is not Knight, produced only a solution – for an open but also a source house event at of inspiration” Finland’s leading vocational adult A customer on education so
Slide 29: Capital Markets Day 20 May Gothenburg
lindab | we simplify construction Capital Markets Day 20 May Gothenburg 11 am Novotel 2 pm Sjömagasinet register now! 29
Slide 30: Thank You Q&A
lindab | we simplify construction Thank You Q&A 30