Construction equipment firm Lindab International AB’s (STO: LIAB) sales revenue increased by two percent to 1.755 billion SEK and 8% when adjusted for currency and structural issues in the second quarter. Operating profit printed in at 135 million, meaning an operating margin of 7.7 percent. Cash flow from operating activities was up far better to 217 million from 67 million.
Lindab’s CEO David Brodetsky felt the company took another step in the right direction in Q2. The operating margin was affected by increasing price pressure and some higher costs. Mr. Brodetsky said that current Euro-crisis has already led to lower business confidence. The recovery is supposed to gain pace in non-residential construction from 2012 onward.
Lindab is involved in ventilation and building products made primarily of steel. The stock is down a hair under 5% approximately 45 minutes before market close. The full interim report is available for download in pdf from here.
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