Lindab's sales development April and May 2010
At Lindab's Investor Day, opening at 12.00 today at Operaterassen in Stockholm, the President and CEO David Brodetsky comments on Lindab's sales performance up to 31 May 2010.
The market and sales situation for April - May 2010
"Sales during April and May show a positive development, partly due to some catching up following the harsh winter, and partly due to improved demand within the residential sector, particularly in the Swedish market. However, it is too early to say whether this is a sign of any general improvement in demand."
"The sales trend confirms the expectations that were communicated in connection with the report for the first quarter."
Steel price development
Raw material cost increases generally, combined with higher global demand for steel, are expected to result in substantial steel price increases during the third quarter. Lindab will increase the prices of its products to compensate for material cost increases.
Market outlook
"We expect that 2010 will remain challenging. The recovery in Lindab's main segment, non-residential construction, is expected in the second half of 2011. We expect the residential segment to recover in 2010."
End
The programme for Lindab's Investor Day also includes updates of the strategy, vision and the financial targets.
The presentations from the day's programme will be available on Lindab's website at the end of the day.
The information here is that which Lindab International AB has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act.
Contacts:
LINDAB
David Brodetsky, CEO
Email: david.brodetsky@lindab.com
Mobile: +46 (0)73 274 5418
Nils-Johan Andersson, CFO
Email: nils-johan.andersson@lindab.com
Mobile:+46 (0)70 668 5075
Lindab - A Ventilation and Building Products company:
Lindab develops, manufactures, markets and distributes products and system solutions primarily in steel for simplified construction and improved indoor climate.
The business is carried out within three business areas, Ventilation, Building Components and Building Systems. The products are characterised by their high quality, ease of assembly, energy efficiency, consideration towards the environment, and are delivered with high levels of service. Altogether, this increases customer value.
The Group had net sales of SEK 7,019 m in 2009, was established in 31 countries and had approximately 4,500 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2009, the Nordic market accounted for 42 percent, CEE/CIS (Central and Eastern Europe as well as other former Soviet states) for 21 percent, Western Europe for 32 percent and other markets for 5 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Large Cap, under the ticker symbol LIAB. The principal shareholders are Ratos, Sjätte AP-fonden and Skandia Liv. For more information visit www.lindabgroup.com