Sweden · Delayed Price · Currency is SEK Lindab International AB Earnings Call Transcripts
Fiscal Year 2026
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Net sales grew 2% in Q2 2026, with margin pressure from higher costs and geopolitical disruptions. Profile Systems returned to growth, while Western Europe remained weak. Outlook for 2026 is flat, with recovery expected in 2027, and technical ventilation segments showing strong momentum.
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Group sales declined year-over-year due to currency effects and weak Profile Systems results, while Ventilation Systems maintained stability and improved margins. The company expects slow market recovery in 2026, with ongoing restructuring and price increases to offset rising costs.
Fiscal Year 2025
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Adjusted operating profit and margins improved year-over-year, led by Ventilation Systems and efficiency measures. Profile Systems continued to face challenges, but divestments and restructuring are underway. Market outlook is cautiously optimistic, with growth expected in 2026.
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Ventilation Systems delivered record Q3 results, driven by efficiency gains and acquisitions, while Profile Systems continued to face challenges in Sweden. Strong cash flow and stable leverage support ongoing structural measures and targeted acquisitions, with market recovery expected in 2026.
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Ventilation Systems delivered strong margins despite weak markets, while Profile Systems struggled with low volumes and project delays. Efficiency measures, divestments, and acquisitions position the group for future growth, with stabilization expected in H2 2025.
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Q1 2025 delivered record sales in Ventilation Systems and stable group EBIT, despite challenging markets and negative organic growth. Cost reduction and divestment programs are on track, with acquisitions continuing to drive growth. Margin targets remain, contingent on H2 market recovery.
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Ventilation market volumes declined 5% through Q3 2024, with recovery expected in H2 2025. Cost-saving actions, site closures, and workforce reductions are underway, while strong cash flow supports ongoing acquisitions and strategic focus on ventilation.
Fiscal Year 2024
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Record sales in 2024 were driven by acquisitions, but organic growth was negative amid weak market demand. Major restructuring, cost-saving measures, and divestments are underway to boost profitability, with a continued focus on acquisitions and a stable dividend.
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Q3 sales hit a record high, driven by acquisitions, but profitability fell short of targets due to weak market demand and margin pressure. Cost reductions, price increases, and structural actions in Eastern Europe are planned to restore margins, with recovery expected from H2 2025.
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European ventilation and profile systems markets remain weak, but early signs of recovery are emerging, especially in Scandinavia and consumer renovation. Gross margins are stable or improving, cash flow is strong, and the M&A pipeline is active, with further acquisitions planned.
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Record Q2 sales and operating profit were achieved, driven by acquisitions and efficiency gains, with strong performance in Ventilation Systems and a turnaround in Profile Systems. Outlook is positive for gradual volume recovery and multi-year growth, supported by EU energy directives.