Post on 07-Apr-2018
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
2
Third
quar
ter2
007
-Hig
hlig
hts
Sal
es +
22%
●C
ontin
ued
good
mar
ket d
eman
d
●Bu
ildin
g S
yste
ms
larg
e de
liver
ies
●V
entil
atio
n co
ntin
ued
stro
ng o
rgan
ic g
row
th
●Tw
o bi
g or
ders
-Bui
ldin
g Sy
stem
s, R
ussi
a, S
EK50
m-B
uild
ing
Com
pone
nts,
Cro
atia
, SE
K 7
0 m
EB
IT re
sult
+ 25
%
E
BIT
mar
gin
17.0
% (
16.5
%)
●C
CL,
UK
, bet
ter d
evel
opm
ent t
han
plan
ned
●V
entil
atio
n ac
tiviti
es in
cor
e pr
oduc
ts/L
inda
b S
afe
Clic
k in
curre
d hi
gher
pro
duct
ion
cost
●Pr
ofile
, stro
ng v
olum
e de
velo
pmen
t con
tribu
tes
to im
prov
ed p
rofit
abilit
y
Cas
h flo
w●
Impr
ovem
ent s
tarte
d fo
cus
raw
mat
eria
l
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
3
Perio
dSE
K M
07
06
Sale
s2
494
2 04
5EB
IT42
433
8EB
ITm
argi
n %
17.0
16.5
Third
qua
rter 2
007
-Gro
up
Sal
es g
row
th
22
%
Stru
ctur
e9
%
Cur
renc
y ef
fect
0 %
Vol
ume
/ pric
e13
%
Reg
iona
l sal
es d
evel
opm
ent a
djus
ted
for s
truct
ure
-Nor
dic
+ 12
%-C
EE/C
IS+
21 %
-Wes
tern
+ 7
%
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
4
Perio
dSE
K M
07
06
Sale
s1
143
874
EBIT
137
105
EBIT
mar
gin
%12
.012
.0
Third
qua
rter 2
007
-Ven
tilat
ion S
ales
gro
wth
3
1 %
Stru
ctur
e20
%
Cur
renc
y ef
fect
0 %
Vol
ume
/ pric
e11
%
CC
L ac
quis
ition
con
tribu
ted
to im
prov
ed p
rofit
Act
iviti
es c
ause
d hi
gher
pro
duct
ion
cost
s du
e to
cha
nge-
over
to L
inda
b S
afe
Clic
k pr
oduc
tion
and
incr
ease
d ca
paci
ty, a
bout
SE
K 1
5 m
Com
fort
impr
oved
pro
fit le
vel
Reg
iona
l sal
es d
evel
opm
ent a
djus
ted
for s
truct
ure
-Nor
dic
+ 11
%-C
EE/C
IS+
46 %
-Wes
tern
+ 9
%
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
5
Perio
dSE
K M
07
06
Sale
s1
336
1 15
7EB
IT30
524
4EB
ITm
argi
n %
22.8
21.1
Third
qua
rter 2
007
-Pro
file
Sal
es g
row
th
15
%
Stru
ctur
e0
%
Cur
renc
y ef
fect
1 %
Vol
ume
/ pric
e14
%
Stro
ng s
ales
vol
ume
in B
uild
ing
Sys
tem
s, c
ontin
ued
good
ord
er
inta
ke
Impr
oved
EB
IT m
argi
n in
bot
h B
uild
ing
Com
pone
nts
and
Bui
ldin
g S
yste
ms
Reg
iona
l sal
es d
evel
opm
ent a
djus
ted
for s
truct
ure
-Nor
dic
+ 17
%-C
EE
/CIS
+ 17
%-W
este
rn+
4 %
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
6
2004
2
005
20
06
2007
Perc
enty
-o-y
Q1
Q
2
Q3
Q
4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q
4
Q
1Q
2 Q
3
Net
sale
s2
61
44
05
1334
2628
1632
2122
Stru
ctur
e0
-6-4
-3-5
-17
2015
2213
311
99
Cur
renc
y-3
-2-1
00
13
53
1-2
-3-2
00
Volu
me/
pric
e5
106
75
53
98
510
1623
1213
Qua
rterly
sale
sgr
owth
•Ave
rage
org
anic
gro
wth
last
15
year
s 7,
5%•A
vera
ge o
rgan
ic g
row
th la
st 4
yea
rs 9
%•A
vera
ge o
rgan
ic g
row
th L
TM 1
6%
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
7
Cas
h flo
wst
atem
ent
July
–Se
pt20
07
Ju
ly–
Sept
2006
Cas
h flo
wfro
m
-op
erat
ing
activ
ities
481
387
-ch
ange
in w
orki
ngca
pita
l-6
6-1
34
-in
vest
ing
activ
ities
-37
43
-fin
anci
alne
tpai
d-2
8-1
0
-ta
x pa
id-1
230
Free
cas
hflo
w22
728
6
Prof
orm
afr
eeca
shflo
w28
112
3
Inve
stin
gac
tiviti
esla
st y
ears
old
build
ings
with
a c
ash
flow
effe
ctof
SE
K +
75 m
Tax
paym
enth
ighe
rtha
nno
rmal
dur
ing
Q3
2007
1)
1)
Free
cas
hflo
wad
just
edfo
r rea
l est
ate
dive
stitu
rean
d no
rmal
ized
tax
paym
ent
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
8
Acq
uisi
tion
of A
erve
ntH
oldi
ng, I
rela
nd
Irish
non
-resi
dent
ial m
arke
t is
expe
cted
to g
row
du
ring
2007
–20
09 in
ave
rage
10%
Con
solid
ated
from
1 O
ctob
er
Sal
es v
olum
e S
EK
110
m w
ith a
n E
BIT
mar
gin
(pro
-form
a) o
f 8 %
30 e
mpl
oyee
s
Goo
d sy
nerg
ies
Pur
chas
e pr
ice
EU
R 7
.36
m (
SE
K 6
8 m
), de
bt fr
ee
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
9
Rea
lized
acqu
isiti
onof
CC
L, U
KN
o si
gnifi
cant
sal
es lo
ss d
ue to
mer
ging
Lin
dab/
CC
L
(P
lan
= -5
%)
Re-
bran
d to
Lin
dab
real
ized
qui
cker
than
pla
n (1
yea
r ins
tead
of
2 ye
ars)
Pos
sibi
lity
to u
se lo
ss c
arry
forw
ard,
SE
K 3
0 m
low
er ta
x
In-s
ourc
ing
of fi
tting
s st
arte
d Q
3 (fu
rther
pot
entia
l)
Goo
d in
tegr
atio
n
Pro
fitab
ility
exce
eds
our a
cqui
sitio
n ca
lcul
atio
n
Rea
lized
acq
uisi
tion
of A
irbat
, Fra
nce
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
10
Upd
ated
finan
cial
targ
ets
durin
g3Q
Org
anic
grow
th6
% (u
ncha
nged
)
EB
IT m
argi
n14
% (I
ncre
ased
from
12
%)
Net
debt
equi
tyof
1,0
–1,
4 tim
es(u
ncha
nged
)
Div
iden
d pa
you
trat
io40
-50
% o
f net
prof
it (u
ncha
nged
)
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
11
Reg
ions
2007
07/
06
Nor
dic
7.2
%
CE
E (i
nclC
IS)
8.4
%
WE
2.9
%
6.2
%
Mar
ket d
eman
d20
07
Sou
rce:
Eur
ocon
stru
ctfo
reca
st J
une
2007
adj
uste
d fo
r Lin
dab
Mix
-Geo
grap
hic
mix
-20/
80 R
esid
entia
l / C
omm
erci
al-6
0/40
New
/ R
enov
atio
n
–C
ontin
ued
good
mar
ket d
eman
d–
1 pe
rcen
tage
unit
incr
ease
dde
man
dco
mpa
red
to D
ec 0
6 ve
rsio
n
•Nor
dic
-Con
tinue
d hi
gh d
eman
d in
all
coun
tries
•Eas
tern
Eur
ope
-Gen
eral
ly g
ood
mar
ket e
xcep
t HU
•Wes
tern
Eur
ope
-DE
and
UK
indi
cate
goo
d gr
owth
impr
ovem
ent
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
12
Prof
ile
-Sal
es, S
EK
M3
388
(2 8
40)
-Ope
ratin
g pr
ofit,
SE
K M
621
(444
)
-Ope
ratin
g m
argi
n %
18
.3(1
5.6)
Vent
ilatio
n
-Sal
es, S
EK
M3
363
(2 5
62)
-Ope
ratin
g pr
ofit,
SE
K M
378
(261
)
-Ope
ratin
g m
argi
n %
11
.2
(10.
2)
SEK
M20
0720
06
Net
sal
es6
795
5 45
7
Ope
ratin
g pr
ofit
(EB
IT)
939
678
Ope
ratin
g m
argi
n %
13
.812
.4N
et p
rofit
65
446
0D
ilute
d ea
rnin
gs p
er s
hare
, SE
K8.
314.
55C
ash
flow
from
ope
ratin
g ac
tiviti
es30
051
2
Sal
es g
row
th25
%
Stru
ctur
e9
%
Cur
renc
y ef
fect
0 %
Volu
me
/ pric
e16
%
Gro
up, J
anua
ry–
Sep
tem
ber 2
007
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
13
050100
150
200
250
300
350
400
450
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
0200
400
600
800
1000
1200
1400
Qua
rterly
ope
ratin
g pr
ofit
(EB
IT) S
EK
M
LTM
Qua
rterly
2004
20
05
20
06
Run
ning
12 m
onth
sS
EK
1 2
21 m
(13.
6 %
)
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
14
Tax
rate
s
Impr
oved
tax
rate
dur
ing
Q3,
26%
→18
%
Cap
italiz
ed lo
ss c
arry
forw
ard
in U
K
Tren
d in
Eur
ope
decr
easi
ng ta
x ra
tes
(Ger
man
y 40→
30,
Den
mar
k 28→
25, U
K 3
0→28
, Cze
ch R
epub
lic 2
4→21
)
Loss
car
ry fo
rwar
d S
EK
100
m n
ot c
urre
ntly
val
ued.
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
15
Ste
el p
rice
deve
lopm
ent
60%
80%
100%
120%
140%
160%
180%
200%
220%
Q1-
00Q
1-01
Q1-
02Q
1-03
Q1-
04Q
1-05
Q1-
06Q
1-07
HD
G
Impo
rtant
:▪
Iron
/ ore
▪C
hina
▪Zi
nk
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
16
Impo
rtant
activ
ities
Rai
nlin
eU
K/R
U–
Toda
y 10
% o
f all
rain
line
sale
s–
60%
gro
wth
Sep
tem
ber Y
TD
Rus
sia,
Ven
tilat
ion
(St P
eter
sbur
g)–
Circ
ular
mar
ket s
ame
size
as
Nor
dic
coun
tries
and
gro
win
g–
Slow
er s
ales
dev
elop
men
t tha
n pl
an–
Stre
ngth
ened
man
agem
ent r
esou
rces
with
focu
s on
sal
es–
Est
ablis
hed
3 di
strib
utor
s; E
lite,
Onn
inen
, Sup
er V
ent
–S
tarte
d ac
tiviti
es to
incr
ease
dire
ct s
ales
to in
stal
lers
–Li
ndab
bra
nd c
ampa
ign
–C
hang
ed E
U/R
ussi
an ru
les
for c
usto
mer
fee
(fitti
ngs)
. O
ppor
tuni
ty to
sel
l int
o Fi
nlan
d an
d th
e B
altic
.
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
17
Impo
rtant
activ
ities
Bui
ldin
g C
ompo
nent
s in
4 n
ew c
ount
ries
(UA
, BO
, SK
, BA
)
–To
day
5% o
f Bui
ldin
g C
ompo
nent
s’sa
les
in C
EE
/CIS
–In
vest
men
t in
Ukr
aine
pro
duct
ion
●S
EK
50
m●
Pro
duct
ion
of C
over
line
and
Con
stru
line
(Clic
k)●
Sta
rt of
pro
duct
ion
plan
ned
to Q
2 20
09
Clic
k
–V
entil
atio
n●
Laun
ched
in G
erm
any,
Sw
itzer
land
and
Bel
gium
with
goo
d re
sult
●S
ales
gro
wth
10%
hig
her t
han
aver
age
WE
gro
wth
–P
rofil
e●
Lind
ab C
onst
rulin
e–
Sal
es to
day
SE
K 1
35 m
, app
rox.
1%
of t
he m
arke
t–
New
Clic
k st
ud la
unch
beg
inni
ng o
f 200
8 •
Nor
dic
Q1
•W
este
rn E
urop
e Q
2
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
18
Impo
rtant
activ
ities
Act
iviti
es to
redu
ce w
orki
ng c
apita
l
–C
ash
man
agem
ent r
evie
w o
n-go
ing,
8 u
nits
revi
ewed
so
far
–O
utst
andi
ng d
ays,
acc
ount
rece
ivab
les
impr
oved
(a
djus
ted
for C
CL)
–S
ynch
ron
impl
emen
ted
in 1
0 un
its, s
tock
day
s fin
ishe
d go
ods
dow
n to
33
days
–R
evie
w o
f pur
chas
ing
proc
ess
of ra
w m
ater
ial
gene
rate
d ac
tions
to lo
wer
the
stoc
k le
vel t
o ye
ar-e
nd
(~ S
EK
250
m)
l i n
d a
b|
g r o
u p
p r
e s
e n
t a t
i o n
19
The
futu
re–
2008
and
forw
ard
Lind
ab S
afe
Clic
k fu
lly la
unch
ed 2
008
Stu
d C
lick
laun
chin
g st
arts
in S
cand
inav
ia in
the
begi
nnin
g of
200
8, m
arke
t siz
e E
urop
e S
EK
11
bn
Bui
ldin
g S
yste
ms
Yar
osla
vl, R
ussi
a, e
stim
ated
pr
oduc
tion
star
t in
2008
Ven
tilat
ion,
St P
eter
sbur
g, b
reak
-eve
n Q
1 20
08
Bui
ldin
g C
ompo
nent
s, U
krai
ne, n
ew p
rodu
ctio
n fa
cilit
y w
ith p
rodu
ctio
n st
art s
econ
d ha
lf of
200
9
Bui
ldin
g C
ompo
nent
s –
four
new
cou
ntrie
s