Systemair increased operating profit by 20 percent
March 7, 2008, 08:30
Systemair increased operating profit by 20 percentNet sales for the third quarter (Nov-Jan) net sales increased by 13 percent to769 MSEK (679) and the operating profit increased by 20 percent to 104 MSEK(87).For the period May 2007-January 2008, net sales increased by 14 percent to 2,296MSEK (2,015) and the operating profit increased by 20 percent to 319 MSEK (266).- The period was distinguished by continued strong demand for the Group'sproducts in mostmarkets, says Gerald Engström, CEO Systemair. We are pleased that Eastern Europeis showing a strong growth, especially in the commercial property construction sector. Webelieve that this market dynamics will continue during the last quarter of our financial year.The complete interim report is available from March 7, at 08.30 onwww.systemair.com.For further information, please contactGerald Engström, CEO, +46 222 440 01, mobile +46 70 519 00 01Lars Hansson, Chairman, mobile +46 70 895 90 02Glen Nilsson, CFO, +46 222 440 03, mobile +46 70 654 40 03Systemair in briefSystemair is a leading ventilation company, with activities in 37 countries inEurope, North America, Asia, the Middle East,South Africa, and Australia. TheCompany had sales of just over SEK 2.7 billion in the preceding financial yearand approximately 1,750 employees. Since its foundation in 1974, Systemair hassteadily increased its annual sales while simultaneously returning positiveoperating profits. Over the past decade, the company has averaged 16 percentannualgrowth in sales. The Group comprises around 50 companies.Systemair has well-established operations in a number of growth markets -notably those of Central and Eastern Europe,including Russia. The Group'sproducts are marketed under the brands Systemair, Frico, VEAB and Fantech.Systemairshares have been traded on the Mid Cap List of the OMX Nordic Exchangein Stockholm since 12 October 2007.