CEO’s comments
2026-06-10
Quarter 4 2025-26
Systemair's financial year 2025/26 ended strongly. We summarise our fourth quarter of high organic growth of 9.6 percent, a sign of strength given the current economic situation and the uncertain world situation. We also managed to raise our adjusted operating margin to 8.9 percent (8.7). The improvement in margin is proof that our targeted improvement programme is paying off. We will continue to focus on improving efficiency within the sales organization and providing our customers with a strong product offering.
The market
The world around us is dominated by geopolitical unrest. Nevertheless, we continue to receive optimistic signals from our subsidiaries. The quarter shows good sales growth in all regions except the Nordic region. In the Nordic region, growth was good in Sweden, while the residential market in Norway and the commercial market in Denmark are going through a more difficult period at present. The Western Europe region is characterised by a cautiously positive German market while several other countries within the region performed well. In Eastern Europe, developments were once again very robust in most countries in the region and organic growth rose to a full 19.0 percent. In North America, growth was also good, but the market remains characterised by uncertainty due to increased tariffs. Organic growth in the Middle East, Asia, Australia and Africa was strong with a 10.6 percent increase. The Turkish market stands out in a positive way, with several project deliveries. During the spring, we have participated in several major international industry fairs with the aim of showcasing new products and developing customer relationships.
Acquisitions & investments
In August 2025, the Group completed its acquisition of NADI Airtechnics Ltd, a leading Indian manufacturer of industrial fans. We see great potential in this acquisition and believe that it provides good opportunities for synergies and continued growth in India. NADI's products make a good fit with our existing local product range in fans. The company has its headquarters and production facility in Chennai. Today, it employs 230 people and reports sales of approximately EUR 13,5 million for the previous financial year. NADI’s EBIT margin exceeds that of Systemair.
We are continuing to invest for the long term to strengthen our delivery capacity and product development. Our strong balance sheet provides ample scope for further future investments and strategic acquisitions. Major investments are also in progress in Sweden, Slovakia, Saudi Arabia, India and Norway.
Energy efficiency and sustainability
Systemair places great emphasis on offering energy efficient products that improve indoor air quality while reducing the energy needs of properties.
Our strategy of owning our production properties enables us to invest in our own facilities in the long term to strengthen our delivery capacity, increase our energy efficiency and reduce our own carbon emissions. For example, our solar cells have produced more than 3.2 million kWh this year, an increase of 13 percent compared to the previous year. More own solar power not only reduces emissions, it also reduces our costs and increases the value of our properties.
Outlook is favourable
The quarter that runs from February to April is my first full quarter as CEO of Systemair. I have the pleasure of leading a company that is driven by a strong entrepreneurial spirit. Systemair is considered flexible and we adapt quickly to new conditions and can benefit from the new opportunities for profitable growth that arise. I am convinced that this is thanks to our decentralized organization, where decisions are made close to our customers.
My mission from the Board is to double sales within seven years. As an important step towards doubling sales and profitable growth, we are intensifying our focus on business acumen and efficiency in the sales organisation. At the same time, we are continuously reviewing companies that are not performing as planned.
I believe that the ventilation industry in general will continue to grow and I look forward to making my contribution to maintaining profitable growth in this well-managed company
Robert Larsson
President and CEO
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Systemair has a well-proven business concept and business model, which is reflected in steadily increasing sales and profit. A large share of our profits are invested in a forward-looking way in increased production development, sustainability initiatives and strategic acquisitions.
