Lindab International Ab · OMXSTO:LIAB
Lindab International Ab — Q4 2024 Earnings Presentation
16 slides from Lindab International Ab's earnings presentation, Feb 12, 2025
Slide 1: For a better climate
For a better climate TM Lindab Group Q4 report 12 February 2025 Ola Ringdahl President & CEO Lars Ynner CFO
Slide 2: Q4 highlights
Q4 highlights Acquisitions: A key growth driver in a Q4/24 Q4/23 challenging market climate • Highest Q4 sales ever, driven by acquisitions. • Low market activity in both Ventilation Sales (SEK m) 3,308 3,274 Systems and Profile Systems. Organic growth -5% -5% • Strong actions taken to increase prof
Slide 3: Full year highlights
Full year highlights Our acquisition journey continues 2024 2023 • Full-year sales highest ever, driven by acquisitions. • Low market activity affected margins. Sales (SEK m) 13,323 13,114 • Western Europe #1 market for the first time. -5% -9% Organic growth Acquired growth +7% +10% Currency effect
Slide 4: One-time costs, FY 2024: SEK 308 m
One-time costs, FY 2024: SEK 308 m Financial effect (MSEK) FY (SEK m) Q4 (SEK m) Q3 (SEK m) Relating to -400 -400 Profile Systems: Eastern Europe exit incl. impairment goodwill SEK 250 m -74 -74 Structural measures and cost reductions -30 -30 Impairment of Leapcraft -24 -24 Other costs +220 +220 Air
Slide 5: Growth driven by acquisitions
Growth driven by acquisitions Sales per year, SEK m SEK m Ventilation Systems 3 000 SEK m Lindab Group 2 500 4 000 3 500 2 000 3 000 1 500 2 500 1 000 2 000 500 1 500 0 1 000 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 500 21 22 22 22 22 23 23 23 23 24 24 24 24 0 SEK m Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 6: Market decline puts pressure on operating margins
Market decline puts pressure on operating margins Adj. EBIT per quarter and 12 months SEK m Ventilation Systems % Adj. EBIT, SEK m Adj. EBIT R12 months, % 300 18% Lindab Group SEK m % 250 15% 450 14% 200 12% 400 12% 150 9% 350 10% 100 6% 300 250 8% 50 3% 200 6% 0 0% 150 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 7: Continued strong cash flow from operating activities
Continued strong cash flow from operating activities Solid financial position supports additional acquisitions • Cash flow from operating activities increased to SEK 629 m (589) in Q4. • Net debt amounted to SEK 4,510 m (3,264), of which SEK 1,581 m (1,370) is related to leasing liabilities. • Net d
Slide 8: Dividend kept unchanged
Dividend kept unchanged • Dividend policy of at least 40% of net profit. Dividend history 2015-2024 • Strong cash flow and a solid financial position. SEK Dividend per share (SEK) • Board of Directors proposes a dividend of SEK 5.40 (5.40). • To be paid on two occasions. 8
Slide 9: Focus areas 2025
Focus areas 2025 9
Slide 10: Focus areas 2025: priorities for profitable growth
Focus areas 2025: priorities for profitable growth Full Divestments Acquisitions implementation of cost program 10
Slide 11: Ventilation Systems: Structural measures and cost reductions are progressing according to plan
Ventilation Systems: Structural measures and cost reductions are progressing according to plan Full implementation of cost program Structural measures within Ventilation Systems • Closure of 10 sites for warehousing, stores and local production. Cost reductions with focus on Ventilation Systems • Pe
Slide 12: Profile Systems: The exit from Eastern Europe is progressing according to plan
Profile Systems: The exit from Eastern Europe is progressing according to plan Divestments Status, closing and divestments Country Status Czech Republic ✓ Estonia and Poland Closed, December 31 2024 To be closed during Q1. According to plan. Hungary, Romania Expected to be divested in H1, 2025. and
Slide 13: Strong cash flow supports further acquisitions
Strong cash flow supports further acquisitions Acquisitions • 6 acquisitions during 2024, the latest was Acomat (FR) in December. • 28 acquisitions in total since 2020, adding SEK 4 billion in revenue. • The acquisition journey will continue in 2025. February March April July October December Vicon,
Slide 14: Market outlook
Market outlook • Market recovery in the Nordic region has not yet gained momentum. Low activity in the central parts of Europe. • Early signs of recovery have been noted for Profile Systems. • For Ventilation Systems, the European market is expected to be challenging, with low volumes, until mid-202
Slide 15: Ready for take-off when the market recovers
Ready for take-off when the market recovers • Focus on the ventilation business, with higher and more stable profitability. • Significant investments made in capacity and automation will give strong profitability development when volumes pick up. • Trimmed cost base, and low-performing units under d
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