Systemair Q1 - Sales on a par with one year previous
September 3, 2009, 13:00
SystemairINTERIM REPORT Q11 May-31 July 2009(SEK million)Systemair Q1 - Sales on a par with one year previousFirst quarter, May-July 2009· Net sales rose 0.3 percent, to SEK 790 million (787).· Operating profit (EBIT) fell 34 percent, to SEK 69 million (103). Theoperating margin equalled 8.7 percent (13.1).· Profit after tax fell 32 percent, to SEK 47 million (70).· Earnings per share equalled SEK 0.90 (1.33).· Cash flows from operating activities totalled SEK 72 million (73).Significant events during the period· Acquisition of the ventilation company Energo Plus in Slovenia in May.Comments by Gerald Engström, CEO:“We are pleased to have achieved sales comparable to the preceding year's,though we were helped by foreign exchange and, to some extent, acquisitions. Ouroperating margin of 8.7 percent during this recession confirms that our costadjustments have been effective.We have not scaled back our investment in the future: product development,marketing and efficiency enhancements continue apace. We have continued toinvest in manufacturing equipment and buildings. We are poised to resume ourgrowth once the economy recovers.”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.