Q1 2024 Lindab International AB Earnings Call Transcript
Hello and welcome to this call. My name is Ola Ringdahl and I'm the President and CEO for Lindab Group. Next to me, I have our CFO, Lars Ynner. Let me start with a summary of the quarter.
Business area of ventilation systems, which accounted for 80% of sales during the quarter, reported 4% growth, thanks to acquisitions. We achieved an operating margin of 9.6% despite the challenging market.
Business area of profile systems has had a noticeable impact from reduced market activity. The sales declined by 21% in line with the weak markets. The significant sales drop led to an operating margin of negative 0.5%.
In total in the group, sales declined by 2% in the first quarter and the operating margin was 7.1%. Cash flow developed according to our expectations and came in at a healthy level.
Let's take a closer look at the revenue development. Ventilation systems increased sales by 4% during the quarter and reached the highest quarterly sales ever in Lindab's history. Organic sales growth was negative by 6%,
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