Systemair - sales on a par with one year previous
September 3, 2009, 13:00
Press release 3 Sep 2009Systemair - sales on a par with one year previousIn the first quarter (May-July) of the split financial year 2009/10 the netturnover amounted to 790 MSEK (787). The operating result decreased with 34% to69 MSEK (103) the operating margin reached 8, 7 % (13,1). - We are pleased to have achieved the same turnover as for the previous year,though we were helped by currency effects and to some degree acquisitions. Theoperating margin of 8,7% achieved during an economic downturn confirms that ourcost adjustments have proven successful. We continue our investments in product development, marketing and streamliningproduction and administration. Investments in production equipment and buildingshave been made during the quarter. We are well prepared for continued growth themoment the economy recovers, says Gerald Engström, Systemair CEO. The full quarterly report is available on www.systemair.com 3rd of September at13.00.For further information, please contact: Lars Hansson, Chairman of the Board, mobile 070-895 90 02 Gerald Engström, CEO, 0222-440 01, mobile 070-519 00 01 Glen Nilsson, CFO, 0222-44003, mobile 070-654 40 03 Systemair AB, SE 739 30 Skinnskatteberg , Sweden , Phone + 46 222 440 00 ,www.systemair.comSystemair in brief Systemair is a leading ventilation company with operations in 38 countries inEurope, North America, the Middle East, Asia, Africa and Australia. The Companyhad sales of more than SEK 3.3 billion in the 2008/09 financial year andcurrently employs about 1,960 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 13 percent. 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 Nasdaq OMX NordicExchange in Stockholm since October 2007.