Q4 2024 Lindab International AB Earnings Call Transcript
Key Points
- Lindab International AB (FRA:L5E) achieved the highest fourth quarter sales ever at 3.3 billion SEK, driven by acquisitions.
- The company ended the year with the highest sales ever for a full year, 2% up on the previous year.
- Ventilation systems, which account for 77% of Lindab's total business, reported its highest sales ever for the fourth quarter.
- Cash flow from operating activities was very strong during 2024, amounting to 629 million SEK in Q4.
- Lindab's strategic focus on ventilation, an attractive market with a strong outlook, positions the company well for future growth.
- Low market activity in the fourth quarter weakened demand for Lindab's products, negatively affecting sales and profitability.
- Organic growth was negative at minus 5% due to the current market situation.
- Profile systems reported a disappointing adjusted operating margin of 5.4% for the full year.
- One-time and restructuring costs of 308 million SEK were reported, impacting financial results.
- The market situation in Germany was challenging, affecting the performance of acquisitions like Airmaster.
Good morning and welcome to this call. I'm Ola Ringdahl, President and CEO of Linda Group, and next to me I have our CFO Lars Ynner.
On this call, we will present our results for Q4 and the full year 2024. We will also look at our focus areas for '25 before we are ready to take your questions.
Now, let's start with the fourth quarter.
As presented in a financial update in January, low market activity in the fourth quarter weakened the demand for Lindab's products, affecting both sales and profitability in a negative way.
The month of December was especially affected by low sales.
Nevertheless, we ended the year with the highest fourth quarter sales ever at 3.3 billion SEK, and this was driven by acquisitions.
Organic growth was negative at minus 5% due to the current market situation. This was, however, balanced by the acquired growth of plus 6%.
Business area ventilation systems, which now accounts for 77% of Lindab's total business, reported its highest sales
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