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Systemair - EBIT-margin close to 9%

November 26, 2009, 08:30
Regulatory information
In the second quarter (Aug-Oct) of the split financial year 2009/10,the net turnover decreased by 12 percent to 829 MSEK (947). Theoperating result decreased with 50 percent till 73 MSEK (146) theoperating margin reached 8,8 percent. - Though sales for the quarter decreased compared to the precedingyear, we are reasonably satisfied with sales and earnings. It was thebest individual quarter since last autumn, when the effects of thefinancial crisis began to affect us. The same quarter last year wasthe Group's best ever and impossible to repeat under current economicconditions. We have put big efforts into product development andsales activities and made a few interesting acquisitions, which willadd to the growth in the future. We also continued to invest to boostefficiency at our production facilities. The cutbacks and efficiencyenhancements implemented have yielded the desired results. Ourassessment is that most markets have reached bottom, and in severalmarkets we see incipient growth. We are cautiously optimistic aboutthe coming quarters and believe sound growth will resume once theeconomy has recovered, says Gerald Engström, CEO SystemairA telephone conference for questions to Gerald Engström, CEO and GlenNilsson, CFO, will be held at 10.00 am. To participate, call +46 (0)85052 0110 and tell 852164.The following material is from today, 26 November 2009, available onthe web page  * Interim report as a pdf  * Short presentation and interview with Gerald Engström, CEO    Systemair  * A powerpoint presentation of Q2 as a pdf.For further information please contact:Lars Hansson, Chairman of the Board +46 708959002Gerald Engström, CEO +46 705190001Glen Nilsson, CFO +46 706544003Systemair in briefSystemair is a leading ventilation company with operations in 38countries in Europe, North America, the Middle East, Asia, Africa andAustralia. The Company had sales of approximately SEK 3.3 billion inthe 2008/09 financial year and currently employs about 1,930 people.Since it was founded in 1974, the Company has increased sales everyyear and at the same time reported an operating profit. During thepast three years, the Company's growth rate has averaged roughly 13percent. The Group comprises about 50 companies.Systemair has well-established operations in growth markets. TheGroup's products are marketed under the Systemair, Frico, VEAB andFantech brands. Systemair shares have been quoted on the Mid Cap Listof the OMX Nordic Exchange in Stockholm since October 2007.