Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Lindab's Interim Report January - September 2022: Strong growth through acquisitions


News provided by

Lindab

25 Oct, 2022, 06:33 GMT

Share this article

Share toX

Share this article

Share toX

GREVIE, Sweden, Oct. 25, 2022 /PRNewswire/ -- Sales remained high during the third quarter. The acquired companies developed well and made a strong contribution to growth. The operating profit was one of the best for a quarter ever. Previous year, Lindab benefited from major changes in material prices, which contributed to a high operating margin. During the third quarter of this year, the effect was the opposite, and raw material prices and high cost inflation put temporary pressure on the operating margin. In addition, the acquired companies joined Lindab with a lower average operating margin than Lindab in general. Despite a more challenging market climate, Lindab meets all its financial targets during the quarter.

As of 2022 Lindab's business consists of business area Ventilation Systems and Profile Systems. Unless otherwise stated the comparative numbers exclude the divested business area Building Systems, which was divested in December 2021.

Third quarter 2022

  • Net sales increased by 30 percent to SEK 3,239 m (2,488). Organic growth was 7 percent. Structural changes contributed positively by 20 percent.
  • Adjusted1) operating profit amounted to SEK 361 m (403).
  • Operating profit amounted to SEK 358 m (403).
  • Adjusted1) operating margin amounted to 11.1 percent (16.2).
  • Operating margin amounted to 11.1 percent (16.2).
  • Profit for the period amounted to SEK 267 m (299).
  • Earnings per share before dilution amounted to SEK 3.48 (3.92) and after dilution to SEK 3.47 (3.91).
  • During the quarter, four acquisitions were finalised, with total annual sales of approximately SEK 570 m.

The comparable numbers for the following key figures include the business divested in previous year.

  • Profit for the period amounted to SEK 267 m (-102).
  • Earnings per share before dilution increased to SEK 3.48 (-1.33) and after dilution to SEK 3.47 (-1.34).
  • Cash flow from operating activities increased to SEK 216 m (202).

January - September 2022

  • Net sales increased by 29 percent to SEK 9,143 m (7,088). Organic growth was 14 percent. Structural changes contributed positively by 11 percent.
  • Adjusted1) operating profit increased to SEK 1,103 m (955).
  • Operating profit increased to SEK 1,081 m (955).
  • Adjusted1) operating margin amounted to 12.1 percent (13.5).
  • Operating margin amounted to 11.8 percent (13.5).
  • Profit for the period increased to SEK 803 m (724).
  • Earnings per share before dilution increased to SEK 10.49 (9.48) and after dilution to SEK 10.46 (9.46).

The comparable numbers for the following key figures include the business divested in previous year.

  • Profit for the period increased to SEK 803 m (316).
  • Earnings per share before dilution increased to SEK 10.49 (4.14) and after dilution to SEK 10.46 (4.13).
  • Cash flow from operating activities amounted to SEK 164 m (489).

1) Adjusted operating profit/operating margin does not include significant one-off items and restructuring costs.

Lindab's President and CEO, Ola Ringdahl, comments:

"Lindab continues to grow and increased sales by 30 percent in the quarter. Acquisitions contributed strongly to the growth and Lindab is advancing its positions in strategically important markets such as Germany, France and the Netherlands. As expected, cost inflation in Europe and large variations in material prices put pressure on margins in the quarter. Despite this, Lindab delivers one of its best quarters in terms of operating profit.

During the first nine months of the year, Lindab has acquired eight companies, of which four in the last quarter. The divestment of Lindab Russia was also completed during the quarter, which means that from August, Lindab Group no longer has any operations related to Russia.

Challenging times for Europe

Russia's invasion of Ukraine has changed the conditions for the entire European economy in a short time. We expect reduced new construction activity in the future. We can already see a more hesitant market with lower sales in cyclically sensitive Eastern Europe.

For Lindab, the quarter began with unexpectedly weak sales in July. During August and September sales developed however as expected. Sales in the acquired companies have developed well.

Margins in the quarter were under pressure as a result of three factors. The raw material situation with sudden drops in the steel price is disadvantageous to Lindab, as we prioritise high delivery capacity and necessary safety stocks. Secondly, the high energy prices in Europe have created strong cost inflation for vital raw materials. Finally, the acquired companies have joined Lindab with a lower average profitability and they have thereby diluted the Group's operating margin by one percentage point. Lindab works actively with both purchasing and pricing to balance these effects.

Continued investments and acquisitions

We have a clear plan for how Lindab will continue to develop positively, also in a weaker market. After the transformation of the business in recent years, the subsidiaries in the Group are well managed and profitable. A decentralized management structure means quick decisions and great accountability for results.

The investment program will continue with a focus on efficiency. The pace of new investment will slow down as we have completed a large part of the program in recent years.

Acquisitions are an important part of our strategy that will be prioritized. With a strong balance sheet, we have the opportunity to continue to acquire well-managed companies. Increased focus on cash flow will have positive effects in the coming quarters and strengthen us further. Our strategic investments can continue thanks to the transformation that Lindab has gone through in recent years.

Focus on energy efficiency benefits Lindab

In the short term, we expect gradually lower demand and volumes for both business areas, as new construction of buildings suffers from higher costs, increased interest rates and longer decision times.

In the medium term, we are optimistic about both the industry's and Lindab's prospects. The high energy prices put even more focus on well-insulated buildings and energy-efficient ventilation, which benefits Lindab. We expect a longer period of renovation of public and private properties in Europe. As Lindab has half of its sales towards renovation and remodelling, we see good growth opportunities in this segment, as necessary energy efficiency projects are started in Europe. Within new construction, the demands for sustainable and energy-efficient buildings will increase further, also to the advantage of Lindab and our leading product range.

All in all, with our strong local presence, stable supply chain, demanded products and efficient organisation, Lindab has good conditions for continuing to develop the company in a positive direction."

Press and analyst meeting:

A live webcast will be held at 10:00 am (CEST) on October 25. The Interim Report will be presented by Ola Ringdahl, President and CEO, and Jonas Arkestad CFO.

To access the webcast, please call:

Phone +46 (0) 8 505 163 86

Alternatively phone +44 203 198 4884

Pin code 4104349#

The webcast can be followed live at: https://tv.streamfabriken.com/lindab-q3-2022 

This disclosure contains information that Lindab is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 25-10-2022 07:40 CET.

Contacts:

Ola Ringdahl
President and CEO
E-mail: ola.ringdahl@lindab.com
Phone: +46 (0) 431 850 00

Jonas Arkestad
CFO
E-mail: jonas.arkestad@lindab.com
Phone: +46 (0) 431 850 00

Catharina Paulcén
Head of Corporate Communications
E-mail: catharina.paulcen@lindab.com
Mobile: +46 (0) 701 48 99 65

The following files are available for download:

https://mb.cision.com/Main/1983/3653909/1642942.pdf

Lindab´s Report for the Third Quarter 2022

https://news.cision.com/lindab/i/financial-reports-cover-2022-q3,c3105014

Financial reports-cover 2022 Q3

Modal title

Also from this source

The Nomination Committee's proposal regarding election of Board of Directors in Lindab

The Nomination Committee in Lindab International AB (publ) consists of, Kristian Åkesson (chair), appointed by Carnegie Fonder, Thomas Ehlin,...

Structural measures and cost reductions in Lindab's operations

Lindab is implementing structural measures and cost reductions, primarily within the ventilation business, in order to strengthen profitability and...

More Releases From This Source

Explore

Construction & Building

Construction & Building

Household, Consumer & Cosmetics

Household, Consumer & Cosmetics

Earnings

Earnings

Earnings

Earnings

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.