In the second quarter (Aug-Oct) of the split financial year 2009/10, the net turnover decreased by 12 percent to 829 MSEK (947). The operating result decreased with 50 percent till 73 MSEK (146) the operating margin reached 8,8 percent.
- Though sales for the quarter decreased compared to the preceding year, we are reasonably satisfied with sales and earnings. It was the best individual quarter since last autumn, when the effects of the financial crisis began to affect us. The same quarter last year was the Group's best ever and impossible to repeat under current economic conditions. We have put big efforts into product development and sales activities and made a few interesting acquisitions, which will add to the growth in the future. We also continued to invest to boost efficiency at our production facilities. The cutbacks and efficiency enhancements implemented have yielded the desired results. Our assessment is that most markets have reached bottom, and in several markets we see incipient growth. We are cautiously optimistic about the coming quarters and believe sound growth will resume once the economy has recovered, says Gerald Engström, CEO Systemair
A telephone conference for questions to Gerald Engström, CEO and Glen Nilsson, CFO, will be held at 10.00 am. To participate, call +46 (0)8 5052 0110 and tell id.no 852164.
The following material is from today, 26 November 2009, available on the 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 708959002
Gerald Engström, CEO +46 705190001
Glen Nilsson, CFO +46 706544003
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 approximately SEK 3.3 billion in the 2008/09 financial year and currently employs about 1,930 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. The Group comprises about 50 companies.
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 OMX Nordic Exchange in Stockholm since October 2007.