Lindab International Ab · OMXSTO:LIAB
Lindab International Ab — Q1 2014 Earnings Presentation
27 slides from Lindab International Ab's earnings presentation, 2014
Slide 1: Lindab Group Q1 2014
lindab | we simplify construction Lindab Group Q1 2014 Anders Berg, CEO Per Nilsson, CFO 1
Slide 2: Highlights
lindab | we simplify construction Highlights
Slide 3: Lindab Group – Q1 2014 Highlights
lindab | we simplify construction Lindab Group – Q1 2014 Highlights A Good Start Sales increased 11% compared to last year when adjusted for currency and structure. EBIT (excluding one-off items) increased to SEK 60 m in Q1 compared to SEK 13 m last year ─ EBIT margin increased to 4.0% (1.0).
Slide 4: Lindab Group – Q1 2014 Highlights
lindab | we simplify construction Lindab Group – Q1 2014 Highlights A Good Start Continuing our “Back to Basics – Into the Future” journey ─ ONE Lindab – the new organisation in place and generating results ─ Developing and refining our strategy ─ Innovation – solutions that help our customers to
Slide 5: Financials
lindab | we simplify construction Financials
Slide 6: Lindab Group Profit & Loss Q1 2014
lindab | we simplify construction Lindab Group Profit & Loss Q1 2014 SEK m Q1 2014 Q1 2013 Sales growth 12% Sales 1,506 1,341 Structure 0% EBIT* 60 13 EBIT* % 4.0 1.0 Currency effect 1% Fin net -37 -33 Organic 11% Tax -6 -2 Net profit 14 -28 *) EBIT excluding one-off items of SEK -3 m in Q1 2014 and
Slide 7: 2012 - 2014: weakened sales; increased efficiency
lindab | we simplify construction 2012 - 2014: weakened sales; increased efficiency Sales 12m EBIT 12m EBIT 12m EBIT Sales 12m (MSEK) +23% (MSEK) 545 550 7,000 498 Sales 500 -4% 460 6,750 443 440 445 450 407 400 6,500 347 350 6,250 300 6,000 250 0 2010 2011 2012 2013 2014 EBIT L12M SEK 545 m, EBIT
Slide 8: Lindab Group Financial net L12M trend
lindab | we simplify construction Lindab Group Financial net L12M trend L12M Financial net as % of L12M average Net debt % Actual Actual adj. for release of capitalised old agreement cost 9,0 8,5 8,0 7,5 7,0 CC 6,5 6,0 5,5 5,0 Mar Mar Mar 2012 2013 2014 Net financial items for the quarter were imp
Slide 9: Lindab Group Cash flow Q1 2014
lindab | we simplify construction Lindab Group Cash flow Q1 2014 SEK m Q1 2014 Q1 2013 Cash flow from - operating activities 67 45 - change in working capital -244 -21 - investing activities -178 -28 - financial net paid -20 -29 - tax paid -29 8 Free cash flow -404 -25 Adjusted free cash flow* -249
Slide 10: Cash flow Q1 – working capital development
lindab | we simplify construction Lindab Group Cash flow Q1 – working capital development SEK m Q1 2014 Q1 2013 Stock -124 -140 Operating receivables -87 -51 Operating liabilities -33 170 Total change in working capital -244 -21 The change in cash flow from operating activities is mainly attributa
Slide 11: Lindab Group Operating cash flow trend
lindab | we simplify construction Lindab Group Operating cash flow trend Quarterly L12M Quarterly L12M (MSEK) (MSEK) 500 455 800 400 600 324 300 252 400 192 200 200 100 0 0 -200 -100 -200 -400 -226 -300 -600 2010 2011 2012 2013 2014 L12M cash flow from operating activities amounted to SEK 391 m 11
Slide 12: Segments
lindab | we simplify construction Segments
Slide 13: Products & Solutions
lindab | we simplify construction Products & Solutions Profit & Loss Q1 2014 SEK m Q1 2014 Q1 2013 Sales growth 13% Structure 0% Sales 1,325 1,168 EBIT* 71 21 Currency effect 2% EBIT* % 5.4 1.8 Organic 11% *) excluding one-off items of SEK -3 m in Q1 2014 and SEK -4 m in Q1 2013 All the markets in
Slide 14: Building Systems
lindab | we simplify construction Building Systems Profit & Loss Q1 2014 SEK m Q1 2014 Q1 2013 Sales growth 5% Structure 0% Sales 181 173 EBIT* -3 0 Currency effect -4% EBIT* % -1.7 0.0 Organic 9% *) excluding one-off items of SEK 0 m in Q1 2014 and SEK 0 m in Q1 2013 The sales increase mainly exp
Slide 15: Sales development by product areas
lindab | we simplify construction Sales development by product areas Organic growth, L12M Ventilation Products Indoor Climate Solutions Building Systems % Building Product Building Solutions 20 10 0 -10 -20 Mar Mar Mar 2012 2013 2014 All product areas show positive long-term trend A slowdown for
Slide 16: Back to Basics – Into the Future
lindab | we simplify construction Back to Basics – Into the Future Comprehensive action programme 16
Slide 17: Growth
lindab | we simplify construction Growth Focus on Organic Growth Back to Basics – Into the Future 17
Slide 18: Growth by Increasing Availability
lindab | we simplify construction Growth by Increasing Availability New Branch openings in Ålesund, Norway and Basel, Switzerland Strategic locations to be close to customers Shop – Showroom – Warehouse Reflecting Lindab values: Down-to-Earth, Neatness and Order, Customer Success 18
Slide 19: Growth by strengthening Solutions
lindab | we simplify construction Growth by strengthening Solutions Promoting our Builder Partner offering: Aesthetic Economic life cycle cost Support from design to finish Promoting our expertise in Indoor Climate solutions. Acquisition of NovoClima, manufacturing of chilled beams Group o
Slide 20: More Growth Activities
lindab | we simplify construction More Growth Activities Introduction of ”non-branded” rain water system” in CEE-markets Trade fairs in Denmark, Russia, Sweden 20
Slide 21: Operations
lindab | we simplify construction Operations Efficiency and controlled cost levels Back to Basics – Into the Future 21
Slide 22: Continuous Improvements within Operations
lindab | we simplify construction Continuous Improvements within Operations Lean Audit carried out within 11 Group production units Manufacturing Excellence Areas in BS plants – Efficiency targets and indicators – 5S – Quality – Safety – Continuous improvement box – Visual management and communi
Slide 23: Innovation
lindab | we simplify construction Innovation Release creativity, speed and execution Back to Basics – Into the Future 23
Slide 24: Innovations with customer focus
lindab | we simplify construction Innovations with customer focus Lindab Airy Design valves – many shapes, finishes and colours, as well as extremely little noise Launched at Nordbygg beginning of April EcoBuild - App Version 1.1 – 4 new building types – More building variations – More buildin
Slide 25: Outlook
lindab | we simplify construction Outlook
Slide 26: Market Outlook
lindab | we simplify construction Market Outlook GDP Rebased seasonally adjusted volume index Sources: The national statistical offices Economic recovery gaining momentum in Europe Both sentiment and “hard data”, like construction output, are now improving in the European construction market – O
Slide 27: Thank You
lindab | we simplify construction Thank You