Systemair
INTERIM REPORT Q1
1 May-31 July 2009
(SEK million)
Systemair Q1 - Sales on a par with one year previous
First quarter, May-July 2009
· Net sales rose 0.3 percent, to SEK 790 million (787).
· Operating profit (EBIT) fell 34 percent, to SEK 69 million (103). The
operating margin equalled 8.7 percent (13.1).
· Profit after tax fell 32 percent, to SEK 47 million (70).
· Earnings per share equalled SEK 0.90 (1.33).
· Cash flows from operating activities totalled SEK 72 million (73).
Significant events during the period
· Acquisition of the ventilation company Energo Plus in Slovenia in May.
Comments by Gerald Engström, CEO:
“We are pleased to have achieved sales comparable to the preceding year's,
though we were helped by foreign exchange and, to some extent, acquisitions. Our
operating margin of 8.7 percent during this recession confirms that our cost
adjustments have been effective.
We have not scaled back our investment in the future: product development,
marketing and efficiency enhancements continue apace. We have continued to
invest in manufacturing equipment and buildings. We are poised to resume our
growth once the economy recovers.”
For further information, please contact:
Lars Hansson, Chairman of the Board, mobile 070-895 90 02
Gerald Engström, CEO, 0222-440 01, mobile 070-519 00 01
Glen Nilsson, CFO, 0222-44003, mobile 070-654 40 03
Systemair AB, SE 739 30 Skinnskatteberg , Sweden , Phone + 46 222 440 00 ,
www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 38 countries in
Europe, North America, the Middle East, Asia, Africa and Australia. The Company
had sales of more than SEK 3.3 billion in the 2008/09 financial year and
currently employs about 1,960 people. Since it was founded in 1974, the Company
has increased sales every year and at the same time reported an operating
profit. During the past three years, the Company's growth rate has averaged
roughly 13 percent.
Systemair has well-established operations in growth markets. The Group's
products are marketed under the Systemair, Frico, VEAB and Fantech brands.
Systemair shares have been quoted on the Mid Cap List of the Nasdaq OMX Nordic
Exchange in Stockholm since October 2007.
