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Continued growth for Systemair

March 5, 2009, 08:30
Regulatory information
Continued growth for SystemairThe ventilation company Systemair continues to grow even if the growth rate havebeen reduced. During the third quarter (Nov-Jan) for the split fiscal year2008/2009, the net turnover increased by 5 percent to 807 MSEK (769). Net profitdecreased by 13 percent to 54 MSEK (63).For the fiscal year's first 9 months the net turnover increased by 11 percent to2 541 MSEK (2 296) and net profit by 13 percent to 224 MSEK (198).- Our third quarter includes both December and January, so we had the calendarand the economy going against us. With that in mind, we are satisfied withgrowth of 5%, says Gerald Engström, CEO Systemair. - The global financial crisishas led to falling volumes, especially in Russia and Ukraine but also in Spainand Ireland. However, for us healthy growth continued in parts of WesternEurope, Eastern Europe and in Asia. We adjusted expenditure throughout theperiod under review. We remain cautiously positive about the outlook for sales.Our aim is to continue growing even when demand slumps, by developing newproducts, marketing consistently and expanding our geographic presence throughacquisitions and new operations.The interim report as a whole is available on the website fromMarch 5 at 08.30.For further information please contact:Lars Hansson, Chairman of the Board, mobile +4670 895 90 02Gerald Engström, CEO, +46222-440 01, mobile +4670 519 00 01Glen Nilsson, CFO, +46222-44003, mobile +4670 654 40 03Systemair in briefSystemair is a leading ventilation company with operations in 38 countries inEurope, North America, the Middle East, Asia, Africa and Australia. The Companyhad sales of approximately SEK 3.1 billion in the 2007/08 financial year andcurrently employs about 1,950 people. Since it was founded in 1974, the Companyhas increased sales every year and at the same time reported an operatingprofit. During the past three years, the Company's growth rate has averagedroughly 18 percent. The Group comprises about 50 companies.Systemair has well-established operations in growth markets. The Group'sproducts are marketed under the Systemair,Frico, VEAB and Fantech brands.Systemair shares have been quoted on the Mid Cap List of the OMX Nordic Exchangein Stockholm since October 2007.