Lindab International AB (publ) held its Annual General Meeting on 9 May 2012, at
Lindab Arena in the municipality of Ängelholm, Sweden. Approximately 260 people
were present.
The President's speech
Under the agenda item, The Report by the President for the financial year 2010,
Lindab's President and CEO, David Brodetsky, spoke about "the focused journey
towards increased profitability".
"The new strategy that was launched in 2010 has generated good results," said
David Brodetsky. "During 2011 sales increased by 9 percent and the profit by 17
percent. The profit margin increased from 5.3 percent in 2010 to 5.9 percent in
2011."
"To be able to increase sales by 9 percent while the underlying market has not
grown is proof that our new strategy is working."
David Brodetsky then continued by offering several concrete examples of
activities and new product launches that have taken place during the year.
"Although our point of departure for 2012 is relatively good, we felt the need
to act faster and more decisively in light of a weaker recovery. We therefore
announced in January a new near term EBIT target of 10 percent run rate before
the end of 2013 and for 2014 as a whole."
"Two focus areas are prioritised. Firstly, to ensure the implementation of the
cost saving programme that will save around SEK 150 million per year. Secondly,
to continue to focus on prioritised markets, customers and various sales
initiatives that will generate increased sales and strengthen market shares."
"I expect an exciting year for Lindab. We have a team that has performed well
during the downturn and, with Lindab's entrepreneurial spirit and enthusiasm, I
am sure that we will continue that performance."
Resolutions
The Meeting resolved in favour of all the proposed matters in accordance with
the proposals of the Board of Directors. The main aspects of the most important
resolutions are described below.
Dividend
The Annual General Meeting adopted the proposal for a dividend of SEK 1.00 per
share for the financial year 2011. The record date for the right to receive
dividends is 14 May 2012 and it is expected that the dividends will be disbursed
by Euroclear on 18 May 2012.
Election of the Board of Directors
In accordance with the proposals by the Nomination Committee, Ulf Gundemark was
re-elected as Chairman of the Board. Sonat Burman-Olsson, Erik Eberhardson, Per
Frankling and Stig Karlsson were re-elected as members of the Board of
Directors, and Stefan Charette, Birgit Nørgaard and Jens Wikstedt were newly
elected as members of the Board of Directors
Performance-based share saving programme (LTIP 2012)
The Annual General Meeting resolved to introduce a performance-based share
saving programme, similar to last year, that rewards share-ownership and long-
term value growth in Lindab. Approximately 82 managers and key personnel in the
Group will be invited to participate in LTIP 2012. The programme means that the
participants will acquire the shares at market price, which under certain
conditions will entitle the participants to receive Lindab shares free of
charge. The outcome of the share savings programme is related to the growth and
performance of the company. The duration of the programme is approximately three
years.
End
The information here is that which Lindab International AB has willingly
chosen to make public or that which it is obliged to make public according to
the Swedish Securities Market Act and/or the Financial Instruments Trading
Act.
Contacts:
LINDAB
David Brodetsky, CEO
Email: david.brodetsky@lindab.com
Mobile: +46 (0)73Â 274 5418
Carl-Gustav Nilsson, General Counsel
Email: carlgustav.nilsson@lindab.com
Mobil: +46 (0)70 67 85011
Lindab - A Ventilation and Building Products company:
Lindab develops, manufactures, markets and distributes products and system
solutions primarily in steel for simplified construction and improved indoor
climate.
The business is carried out within three business areas, Ventilation, Building
Components and Building Systems. The products are characterised by their high
quality, ease of assembly, energy efficiency, consideration towards the
environment, and are delivered with high levels of service. Altogether, this
increases customer value.
The Group had sales revenue of SEK 6,878 m in 2011, was established in 31
countries and had approximately 4,300 employees. The main market is non-
residential construction, which accounts for 80 percent of sales, while
residential accounts for 20 percent of sales. During 2011, the Nordic market
accounted for 46 percent, CEE/CIS (Central and Eastern Europe as well as other
former Soviet states) for 23 percent, Western Europe for 28 percent and other
markets for 3 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap. For
more information visit www.lindabgroup.com
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originality of the information contained therein.
Source: Lindab International AB via Thomson Reuters ONE
[HUG#1610024]
