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Lindab’s Interim Report January – June 2024: Sales growth and improved operating margin

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GREVIE, Sweden, July 19, 2024 /PRNewswire/ — Lindab’s sales increased by 5 percent during the second quarter and reached the highest level ever for a single quarter. The operating margin improved to 9.6 percent. Business area Ventilation Systems, which represents approximately 75 percent of sales, continued to grow and delivered an operating margin of 10.4 percent. Profile Systems, which has been affected by weaker demand for several quarters, improved its operating margin to 8.7 percent thanks to implemented cost measures. Cash flow from operating activities was strong in the quarter.

Second quarter 2024

Net sales increased by 5 percent to SEK 3,520 m (3,365). Organic sales growth was negative by 3 percent while acquisitions contributed positively by 8 percent.Adjusted1) operating profit increased to SEK 338 m (302).Operating profit increased to SEK 338 m (302).Adjusted1) operating margin increased to 9.6 percent (9.0).Operating margin increased to 9.6 percent (9.0).Profit for the period amounted to SEK 213 m (240).Earnings per share before and after dilution amounted to SEK 2.77 (3.14).Cash flow from operating activities increased to SEK 342 m (323).During the quarter Lindab signed an agreement to acquire the Danish ventilation company Venti A/S. The acquisition was completed in July.In April, Lindab finalised the acquisition of the German ventilation business of TGA KlimaPartner.

January – June 2024

Net sales increased by 1 percent to SEK 6,667 m (6,589). Organic sales growth was negative by 7 percent while acquisitions contributed positively by 7 percent.Adjusted1) operating profit amounted to SEK 563 m (566).Operating profit amounted to SEK 563 m (566).Adjusted1) operating margin amounted to 8.4 percent (8.6).Operating margin amounted to 8.4 percent (8.6).Profit for the period amounted to SEK 330 m (420).Earnings per share before and after dilution amounted to SEK 4.29 (5.49).Cash flow from operating activities amounted to SEK 550 m (678).

1) Adjusted operating profit/operating margin does not include significant one-off items and restructuring costs.

 Lindab’s President and CEO, Ola Ringdahl, comments:

“Lindab increased both sales and operating margin during the second quarter. Ventilation Systems delivered its highest ever sales and operating profit, while Profile Systems recovered and improved its profit for the first time in two years.

As in previous quarters, the second quarter was characterised by weak demand due to lower construction activity in Europe. However, there are signs that the Nordic market has stabilized and is likely on the way to recover.

Ventilation Systems continues to grow with good profitability

Ventilation Systems increased both sales and operating margin compared with the same period last year. The gross margin has been strengthened as an effect of implemented efficiency and cost measures. Completed acquisitions have also made a positive contribution. The operating margin for the quarter was 10.4 percent and during the first half of the year Ventilation Systems met the long-term target of an operating margin of at least 10 percent. We see it as a sign of strength and stability that Ventilation Systems can deliver on the profitability target despite a weak economy. When the market starts to improve again, Ventilation Systems will increase sales and show rising margins.

Improved market situation and results for Profile Systems

Over the past two years, Profile Systems has been negatively affected by reduced construction activity in the Nordic region. Since April, the market has gradually improved, although to a lesser extent.

Profile Systems turned the first quarter’s loss into an operating margin of 8.7 percent in the second quarter. This is the first time since the recession began two years ago that Profile Systems has improved its results compared with the same period last year. The break in the trend shows that the measures to strengthen profitability have started to have an effect. Structural changes are continuously evaluated for units that do not achieve the profitability targets.

Acquisitions create conditions for further growth

During the second quarter, an agreement was signed to acquire the Danish ventilation company Venti, which manufactures circular and rectangular ventilation ducts and distributes ventilation products. Venti does not currently sell Lindab’s products. With the acquisition, Lindab will have better geographical coverage and increased production of ventilation ducts. The acquisition was signed in May and finalised in July.

With a continued strong cash flow and a good financial position, more acquisitions will be added to Lindab during 2024. Acquisitions are expected to account for about two-thirds of Lindab’s growth until 2027.

 Prepared for higher demand

The long-term demand for Lindab’s products looks very positive. Ventilation is one of the areas that offers the greatest energy savings in a building. New legislation requires newly built properties to have zero emissions and existing buildings to reduce their energy consumption. This means that ventilation will be a priority area for both new construction and renovation. In addition, demand for products with a strong sustainability profile is increasing, which favours Lindab.

When the market improves, Lindab is well positioned to quickly capitalize on higher demand. With investments already made in increased capacity and automation, production can be increased without major cost increases as a result, which will lead to a noticeable strengthening of the operating margin.

The target for 2027 is to achieve sales of SEK 20 billion. The operating margin will be at least 10 percent, but the ambitions are higher. Growth will take place in Ventilation Systems, in a combination of organic growth and acquisitions. The core of Profile Systems will be refined, especially in Scandinavia where there are significant synergies between our operations.

Market shows signs of recovery

The market situation remains subdued, with many projects on hold, but signs of recovery have been noted in the second quarter. The accumulated needs are high and continued interest rate reductions will benefit the construction industry. Lindab believes in gradually increasing volumes during the second half of 2024, from low levels. From 2025, our assessment is that the ventilation market will enter a multi-year growth phase.”

 Press and analyst meeting:

 A live webcast will be held at 11:00 am (CEST) on July 19. The Interim Report will be presented by Ola Ringdahl, President and CEO, and Lars Ynner CFO.

If you wish to participate via webcast please use the link below.

Lindab Q2 Report 2024 (financialhearings.com)

If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.

Call Access (financialhearings.com)

This disclosure contains information that Lindab is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 19-07-2024 07:40 CET.

Contacts:
Ola Ringdahl
President and CEO
E-mail: ola.ringdahl@lindab.com
Phone: +46 (0) 431 850 00

Lars Ynner
CFO
E-mail: lars.ynner@lindab.com
Phone: +46 (0) 431 850 00

Catharina Paulcén
Head of Corporate Communications
E-mail: catharina.paulcen@lindab.com
Mobile: +46 (0) 701 48 99 65 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/lindab/r/lindab-s-interim-report-january—june-2024–sales-growth-and-improved-operating-margin,c4016598

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Northern Hemisphere Heat Drives Demand for Cooling and Sun-Protection Products on Yiwugo

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YIWU, China, July 24, 2026 /PRNewswire/ — Yiwugo.com, the official website of the Yiwu Commodity Market, is the largest commodity wholesale market in the world. The final whistle may have blown on the World Cup, but the intense heat gripping the Northern Hemisphere shows no sign of letting up. Europe has experienced unusually hot weather this year, sparking not only a surge in demand for air conditioners but also a boom in portable handheld fans. Merchants on Yiwugo say that in previous years, European customers would begin placing orders in March or April and take their time completing their annual procurement. This year, however, the purchasing season has stretched well into summer, with a flood of new buyers coming in, most of them looking for small handheld fans. With customers eager to capitalize on the peak summer season, delivery timelines have also become significantly tighter. Whereas orders in previous years could generally be fulfilled within a month, merchants are now frequently being asked to deliver within about a week, leaving manufacturers scrambling to keep pace with demand.

Lingpan Official Flagship Store has specialized in the production and sales of small fans, insulated cups, and related products for 15 years. This summer, demand from European customers for high-speed small fans has risen sharply, accompanied by urgent delivery requirements. Many customers began requesting shipment just one week after placing their orders, hoping the products would arrive in time for the World Cup and the ongoing heatwave across Europe. One long-standing European customer purchased only five models of small fans from Lingpan last year. Anticipating stronger demand ahead of this summer, the customer expanded the order to 10 models. The first shipment sold out soon after arriving at port, prompting several subsequent repeat orders. European buyers have shown particular interest in high-speed cooling fans and placed great requirements on product quality. So far this year, Lingpan’s fan sales have more than doubled compared with the same period last year, with total purchases reaching approximately RMB 1 million.

Beyond Europe, the owner of Lingpan, Ling Pan pointed out that the Indian market has also undergone significant changes over the past two years. Indian customers are showing great interest in panda-shaped fans, drinking cups, and related products. Procurement volumes among many Indian buyers have increased substantially, with average annual purchases now reaching several hundred thousand yuan.

Unlike European countries grappling with sudden heat waves, Asian markets such as Japan and South Korea, where summers are consistently hot and air conditioners and fans are already everyday essentials, have shown much stronger demand for sun-protection products. From April 1, 2026 to date, sales of sun-protection masks on Yiwugo have increased by 31.6% YoY, while sales of sun-protection face shields surged by 72.42% and sun hats rose by 8.1%.

Chen Jia, a Yiwugo merchant, has engaged in the production and sales of sun-protection masks and sun-protection face shields for eight years. Chen operates the Xiao Zhen and Xiao Mian Sun-Protection Products Workshop in District 4 of the Yiwu International Trade Market. In recent years, the company has customized cooling nylon fabrics for customers in Japan and South Korea. Sun-protection masks and sun-protection face shields made from this material not only offer UPF 50+ protection, but also maintain a more structured shape and are less susceptible to snagging or deformation. Their protective performance remains effective after routine washing, and the products can last for more than five years under normal use.

In 2024, a TV shopping operator from South Korea contacted Xiao Zheng and Xiao Mian through Yiwugo and began placing orders after inspecting the products in person. Over the following two years, the company continued to improve the fitness and design of its sun-protection products. It introduced sun-protection face shields with breathable mesh panels and incorporated soft supports around the nose area to prevent the masks from rubbing against lipstick. These product upgrades have steadily driven up customer ratings on the client’s store. Annual procurement, initially valued at around RMB 300,000, has risen year by year, and the company has since developed into a recognized brand in the local market.

Persistent heat across the Northern Hemisphere has been creating new forms of cross-border consumer demand while enabling Yiwugo merchants to keenly capture shifts in overseas markets. From the strong sales of small portable fans in Europe to the rising demand for functional sun-protection products in Japan and South Korea, the diversity of orders reflects both consumers’ need for relief from extreme heat and the ability of Yiwu manufacturers to strengthen their presence in global markets through product innovation and rapid fulfillment. Faced with a rapidly changing international market, many merchants are continuing to refine product designs, upgrade fabric techniques, and enhance supply efficiency. By leveraging Yiwugo to broaden their export channels, they are keeping pace with overseas consumption trends and capitalizing on the expanding market for cooling and sun-protection products, turning the summer heat into new momentum for cross-border trade.

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SOURCE Yiwugo.com

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Snorkel AI Highlights First Wave of Open Benchmarks Grants Projects

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SAN FRANCISCO, July 24, 2026 /PRNewswire/ — Snorkel AI today highlighted the first group of projects supported through Open Benchmarks Grants, a $3 million commitment to support open-source datasets, benchmarks, and evaluation research.

Launched in February 2026, Open Benchmarks Grants has received hundreds of applications from researchers, labs, and engineers working to address a growing challenge: AI systems are advancing faster than the field’s ability to rigorously measure their performance on realistic, consequential work.

“From complex environments and huge autonomy horizons to rich, sophisticated outputs, these projects tackle some of the field’s hardest evaluation challenges,” said Fred Sala, a member of the Open Benchmarks Grants steering committee and assistant professor at the University of Wisconsin–Madison. “I’m excited to see the broader research community use, validate, and build on them.”

Open Benchmarks Grants provides selected teams with funding, expert data development support, research and engineering collaboration, and platform resources. Supported projects include:

Frontier-Bench (formerly Terminal-Bench 3.0), developed with Laude Institute and the Harbor community, is a harder, more domain-diverse successor to Terminal-Bench 2.1 — built in the open, task by task, under continuous adversarial review.Agents’ Last Exam, developed with UC Berkeley RDI and the RDI Foundation, evaluates agents on long-horizon, economically valuable professional workflows. It spans 55 sub-industries and includes more than 1,500 tasks toward a 5,000-task target, sourced and validated by more than 300 industry experts.OSWorld 2.0, developed with XLANG Lab, evaluates computer-use agents on 108 long-horizon workflows across 31 self-hosted web environments and professional desktop applications.Continual Learning Bench, developed with UC Berkeley SkyLab and the University of Wisconsin–Madison, measures whether agents genuinely improve across sequential, stateful tasks.SlopCode Bench, developed with the University of Wisconsin–Madison, measures how code quality degrades as coding agents repeatedly modify and extend their own solutions.Terminal-Bench 2.1, developed with Stanford University, Laude Institute and the Harbor community, evaluates agents on challenging work in terminal environments. The release corrected 28 tasks and introduced continuous validation.

With support from Open Benchmarks Grants, Terminal-Bench Science is also now in development, extending the Terminal-Bench framework to computational research workflows across the life, physical, earth, and mathematical sciences.

Beyond the grants program, Snorkel led the development of Senior SWE-Bench with the research teams at Princeton University and the University of Wisconsin–Madison. The benchmark evaluates coding agents on senior-level engineering work, including implementing features from realistic instructions, investigating bugs that require runtime analysis, and producing code that follows existing codebase conventions.

Open Benchmarks Grants was established with support from Hugging Face, Prime Intellect, Together AI, Factory, Harbor, and PyTorch. Applications remain open and are reviewed on a rolling basis.

Learn more and apply for a grant at benchmarks.snorkel.ai.

About Snorkel AI
Snorkel AI is the frontier AI data lab, helping teams build the data and environments behind high-performing frontier and agentic AI. We combine technology with research-driven AI data development to create datasets, benchmarks, evals, and custom solutions for real-world AI systems. Founded out of the Stanford AI Lab in 2019, Snorkel works with leading AI labs and enterprises to move from better data to better outcomes. 

media@snorkel.ai

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SOURCE Snorkel AI

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Payzli Vaults to No. 3 on Tampa Bay’s Fast 50, Up From No. 22 in One Year

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Payments technology company, Payzli earns a second consecutive Fast 50 ranking, crediting the climb to accelerating partner and merchant growth on its proprietary technology stack.

TAMPA, Fla., July 24, 2026 /PRNewswire/ — Payzli, the partner-first payments technology company, has been named the No. 3 fastest-growing company in the region on the Tampa Bay Business Journal’s 2026 Fast 50 – a 19-spot climb from its No. 22 debut last year, and the company’s second consecutive year on the list.

The ranking was announced July 23 at the Tampa Bay Business Journal’s Fast 50 event in Tampa, where Co-Founder and Chief Revenue Officer Naim Hamdar accepted the award alongside members of the Payzli team.

Payzli attributed its growth to a compounding effect: a national network of ISOs, agents and ISVs bringing merchants onto a technology platform Payzli built and operated in-house. 

That platform rests on three proprietary pillars:

Payzli Connect: the company’s payment CRM and merchant-and-partner dashboard, giving agents and ISOs daily residuals visibility and giving merchants a single place to run their account.Payzli POS: AI-powered point-of-sale and business software purpose-built for service businesses, including salons, med spas, wellness studios, and independent operators.Payzli Transact: an online payment gateway built on Visa Platform Connect through Payzli’s partnership with Visa Acceptance Solutions.

The Visa Acceptance Solutions partnership is central to how Payzli frames its credibility: rather than assembling a growth story on top of borrowed infrastructure, the company processes on rails backed by one of the most established networks in the industry alongside Fiserv and TSYS – a point that matters to the partners and merchants deciding where to place their volume.

“A second year on this list, and a jump to No. 3, isn’t about one good quarter. It’s about a network deciding to build with us and stay,” said Naim Hamdar, Co-Founder and Chief Revenue Officer of Payzli. “Every rank on this list represents partners we’ve earned and merchants who trust us to run their payments. We built the technology in-house so we could keep the promises the industry usually breaks: nothing hidden, a real person in reach, and daily residual visibility our agents can actually count on. That’s what this ranking measures and it’s why we’re doing it all, for the joy of business.”

“They say nothing in Tampa moves fast except the afternoon thunderstorms, so making the Fast 50 two years running feels pretty good,” said Kapil Pershad, Co-Founder and Chief Technology Officer of Payzli. “In all seriousness, this is a credit to our team and the businesses that trust us to power their growth.”

The Fast 50, produced by the Tampa Bay Business Journal, recognizes the fastest-growing private companies in the Tampa Bay region. Payzli’s return to the list and its move into the top three reflects a merchant-first product suite and a rapidly expanding national partner network across the payments and embedded-finance landscape.

About Payzli

Payzli is an end-to-end payments technology partner that makes accepting payments simpler and affordable for businesses of all sizes and risk levels. Founded in 2020 and headquartered in Tampa, Florida, Payzli brings together in-person processing, an advanced online gateway, AI-powered point of sale, and mobile and contactless payments – backed by its own technology, honest pricing, and dedicated human support. Built partner-first, Payzli equips ISOs, agents, developers, and independent software vendors to grow, with direct integrations to major processing platforms, in-house underwriting, a flexible credit policy, a Visa Acceptance Solutions foundation partnership, and sponsor-bank backing from Esquire Bank, a NASDAQ-listed strategic investor in Payzli. For more information, email partners@payzli.com or visit payzli.com.

Payzli is a registered trademark of United Payment Systems LLC. United Payment Systems LLC is a registered ISO of Esquire Bank (Jericho, NY), Commercial Bank of California (Irvine, CA), and KeyBank, National Association (Cleveland, OH).

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SOURCE Payzli

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