Lindab has completed the exit from Russia
As previously announced, Lindab has decided to exit from Russia after Russia's invasion of Ukraine. As of August 1, Lindab has no operations in, sales to, or purchases from Russia.
As part of the exit process, Lindab's Russian subsidiary has been sold to the company's local Managing Director. The Russian company will change its name and work with local suppliers in the future.
In the quarterly report for the first quarter, the one-off costs related to the exit were estimated at SEK 19 million. The final one-off costs that affect the operating profit amount to SEK 22 million, of which SEK 3 million will impact the result in the third quarter. The transaction has a negative cash flow effect of SEK 12 million.
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Lindab in brief
Lindab is a leading ventilation company in Europe. Lindab develops, manufactures, markets and distributes products and systems for energy-efficient ventilation and a healthy indoor climate. The products are characterised by high quality, ease of installation and environmental thinking.
The Group had sales of SEK 9,648 m in 2021 and is established in 20 countries with approximately 4,900 employees. The Nordic region accounted for 55 percent of sales in 2021, Western Europe for 29 percent, Central Europe for 14 percent and Other markets for 2 percent.
The share is listed on the Nasdaq Stockholm, Large Cap, under the ticker symbol LIAB.