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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Lindab International AB (publ)    LIAB   SE0001852419

LINDAB INTERNATIONAL AB (PUBL)

(LIAB)
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Lindab International : has divested IMP Klima Group to Orange Climate B.V.

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09/18/2020 | 07:25am EDT

Lindab has today signed an agreement to sell IMP Klima Group to Orange Climate B.V., through its Slovenian subsidiary. Orange Climate B.V. will take over the ownership of IMP Klima Group as of today.

Lindab has previously announced the decision to close IMP Klima Group due to profitability issues. The one-time costs were then estimated to SEK 60-70 m, and in addition, impairment of real estate assets could arise. With the divestment to Orange Climate B.V., Lindab's costs for IMP Klima Group will be less than initially estimated. In Q2, one-time costs of SEK 74 m were reported. The financial impact in Q3 will be limited and after that no further costs are expected.

'We are pleased that we found a better solution for IMP Klima. This setup will save jobs, which was our primary objective when finding a buyer for the business. We will continue to do business with Orange Climate B.V. and we are looking forward to a good cooperation', says Ola Ringdahl, President & CEO of the Lindab Group.

IMP Klima Group consists of the legal entity in Slovenia 'LINDAB, klima sistemi, d.o.o - v likvidaciji' and its subsidiaries. Sales in 2019 was SEK 269 m, reported as part of Business Area Ventilation Systems. IMP Klima Group has 226 employees, of which 212 employees in Slovenia and another 14 employees in Serbia, Montenegro and Bosnia-Herzegovina. On 30 June 2020, Lindab announced the closure of the business, followed by the announcement of a signed letter of intent with Orange Climate B.V. on 21 August 2020 and a preliminary agreement on 13 September 2020.

Orange Climate is the international organisation that delivers sustainable climate systems and consists of three Dutch experts: OC Autarkis, OC Verhulst and OC Waterloo. Orange Climate B.V. is part of the family owned company Van Dorp B.V. Van Dorp B.V. has 1700 employees and a turnover of € 300 million. More information about Orange Climate is available at https://www.orangeclimate.com/

Disclaimer

Lindab International AB published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 11:24:02 UTC


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Financials
Sales 2020 9 314 M 1 068 M 1 068 M
Net income 2020 557 M 63,9 M 63,9 M
Net Debt 2020 1 263 M 145 M 145 M
P/E ratio 2020 22,2x
Yield 2020 1,93%
Capitalization 12 366 M 1 412 M 1 418 M
EV / Sales 2020 1,46x
EV / Sales 2021 1,37x
Nbr of Employees 4 981
Free-Float 96,9%
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Number of Analysts 2
Average target price 170,50 SEK
Last Close Price 162,00 SEK
Spread / Highest target 6,17%
Spread / Average Target 5,25%
Spread / Lowest Target 4,32%
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NameTitle
Ola Martin Ringdahl President & Chief Executive Officer
Peter Göran Nilsson Chairman
Inga Malin Samuelsson Chief Financial Officer
Pontus Andersson Director
Sonat Burman-Olsson Independent Director
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