Lindab International : Annual Report and Sustainability Report 2021

Lindab

For a better climate™

Annual Report and Sustainability Report 2021

LINDAB | INTRODUCTION

We want to create a better climate

Most of us spend a majority of our time indoors. The air we breathe in our homes, at our workplaces and at schools affects our well-being. Because air is not visible, we do not always think about it. However, the indoor climate is crucial for how we feel, our energy levels and whether we stay healthy. We want to contribute to a better indoor climate. We also want to contribute to a better climate for our planet. For this reason, we are deve-loping energy-efficient solutions for healthy indoor environments.

LINDAB | CONTENT

CONTENT

Lindab in brief 4

Development in 2021 6

A word from the CEO 8

Strategic objectives 10

Strategy 12

Market 16

Products 20

Customers and geography 26

Value chain 30

Investments 36

Acquisitions 38

Expertise 40

The share 44

Corporate governance report 47

Risks 60

The EU taxonomy 63

Financial statements 65-134

Sustainability data, GRI Index 135

Annual General Meeting 139

Unless otherwise stated, figures and comparisons in this Annual Report refer to continuing operations within Lindab, that is, excluding business area Buil-ding Systems, which was divested at the end of 2021.

This document is a translation of the original, published in Swedish.

In cases of any discrepancies between the Swedish and English versions, or in any other context, the Swedish version shall prevail.

LINDAB | LINDAB IN BRIEF

LINDAB IN BRIEF

A leader in ventilation

LINDAB IS A LEADING European ventilation company with solutions for energy-efficient ventilation and a healthy indoor climate. The products are characterised by their high quality, ease of installation and environmental consideration. In northern and eastern Europe, Lindab also has an extensive range of roof and wall products, as well as rainwater systems.

9,648

Net sales reached

SEK 9 ,648 m 2021.

1,266

Operating profit for 2021 was record high, SEK 1,266 m.

13.1

The adjusted operating margin increased to 13.1 percent in 2021.

About two thirds of Lindab's sales involve ventilation. We are leading the develop-ment of air-tight duct systems and were the first supplier to offer duct systems of the highest air-tightness, class D.

1959

20

4,549

For more than 60 years, Lindab has developed leading solutions that have simplified construction.

The company currently has subsidiaries in 20 countries in Europe.

At the end of the year, we had more than 4,500 employees in some 140 locations.

LINDAB | LINDAB IN BRIEF

Growing market driven by green transformation and an increased focus on the indoor climate.

Well-established brands, high quality and extensive distribution networks.

Ongoing investment programs to increase efficiency, capacity and safety.

Clear acquisition strategy with acquisitions of complementary, well-managed companies.

Focus on results with a decentralised organisation that works close to the customer.

The EU taxonomy

66%

Of Lindab's total sales, 73 percent is eligible according to the EU taxonomy, and 66 percent is aligned with the sustainability criterias for goal 1 "climate change mitigation".