Lindab International (LIAB) investor relations material

Executive summary

• Q3 net sales were SEK 3,237m, with 2% organic growth led by the Nordics; Western European weakness continued to weigh on results.

• Adjusted operating profit was SEK 283m and margin 8.7%, down from 9.7% YoY but improved from Q2; price increases partly offset higher input and transport costs.

• Modest market growth is expected in 2027; efficiency measures and complementary acquisitions remain priorities.

Financial highlights

• Q3 net sales were SEK 3,237m vs SEK 3,253m; organic growth was 2%, acquisition/divestment effects -2%, and currency effects neutral.

• Adjusted operating profit was SEK 283m vs SEK 315m; reported operating profit was SEK 283m vs SEK 491m, including SEK 176m in prior-year one-off and restructuring costs.

• Q3 profit was SEK 187m vs SEK 400m and EPS was SEK 2.42 vs SEK 5.19; gross profit was SEK 944m vs SEK 936m.

• 9M net sales fell 2% to SEK 9,546m; adjusted operating profit was SEK 689m vs SEK 824m, profit SEK 432m vs SEK 719m, and EPS SEK 5.60 vs SEK 9.34.

• Q3 operating cash flow was SEK 235m vs SEK 335m; 9M operating cash flow was SEK 555m vs SEK 826m and adjusted free cash flow SEK 360m vs SEK 588m.

Outlook and guidance

• Modest growth is expected in 2027 for the European ventilation market and Scandinavian Profile Systems market; no numerical financial guidance was stated.

• Germany is expected to remain weak; profitability in Germany, the Netherlands and parts of France is expected to improve gradually from low levels in 2027.

• Further price adjustments, efficiency initiatives and fixed-cost reviews are intended to strengthen margins and align costs with demand; no one-time or structural costs are anticipated.

• Growth priorities include technical ventilation, fire protection, renovation and upgrades, data centres and defence; Q4 is normally the strongest cash-flow quarter, with working-capital focus remaining important.