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Systemair Off to a Good Start for FY 2010/11

August 26, 2010, 13:30
Regulatory information

Highlights of the First Quarter

  • Net sales rose 3 percent, to SEK 817 million (790).
  • Operating profit (EBIT) rose 38 percent, to SEK 95 million (69).
  • The operating margin equalled 11.6 percent (8.7).
  • Profit after tax advanced 37 percent, to SEK 65 million (47).
  • Earnings per share equalled SEK 1.24 (0.90).
  • Cash flows from operating activities totalled SEK 55 million (72).

Gerald Engström, President and CEO, comments:

"We are satisfied with our first quarter. Growth returned, and profitability improved significantly. Volumes grew about 6 percent, though it was not apparent in sales figures because of the appreciation of the Swedish krona.  The operating margin improved, thanks to larger volumes and efficiency enhancements put in place.

"We are also satisfied to have completed three acquisitions during the first quarter - in the Netherlands, the Czech Republic and Greece - that will support our ongoing growth in Europe. We are well equipped for further growth through the investments made in production plant, product development and marketing."

For further information, please contact:
Lars Hansson, Chairman, +46-70-895-9002
Gerald Engström, CEO, +46-222-440-01, +46-70-519-0001
Glen Nilsson, CFO, +46-222-440-03, +46-70-654-4003

Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46-222-440-00,


Systemair in brief
Systemair is a leading ventilation company with operations in 39 countries in Europe, North America, the Middle East, Asia, Africa and Australia. The Company had sales of SEK 3.2 billion in financial 2009/10 and currently employs about 2,300 people. Systemair has reported an operating profit every year since 1974, when the Company was founded. During the past 15 years, the Company's growth rate has averaged about 15 percent.

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. The Group comprises about 60 companies.