Systemair - Year-end report 2010/11
Fourth quarter, February-April 2011
- Net sales increased 3 percent, to SEK 828 million (801).
- Operating profit (EBIT) decreased 14 percent, to SEK 57 million (66).
- The operating margin equalled 6.9 percent (8.3).
- Profit after tax declined 37 percent, to SEK 33 million (52).
- Earnings per share (basic and diluted) equalled SEK 0.61 (1.00).
- Cash flow from operating activities equalled SEK -54 million (67).
12 months, May 2010-April 2011
- Net sales advanced 8 percent, to SEK 3,467 million (3,219).
- Operating profit (EBIT) rose 34 percent, to SEK 367 million (275).
- The operating margin equalled 10.6 percent (8.5).
- Profit after tax advanced 44 percent, to SEK 275 million (192).
- Earnings per share (basic and diluted) equalled SEK 5.25 (3.66).
- Cash flow from operating activities equalled SEK 249 million (357).
- The Board of Directors proposes a dividend of SEK 1.75 (1.25) per share.
Gerald Engström, President and CEO, comments:
"Looking back on the year as a whole, we are pleased to see organic growth has returned. Gross profit as well as operating profit also improved considerably. Our fourth quarter is normally our weakest, because of the season and climate, this year it was even weaker than expected."
A teleconference will be held at 9:00 am on 9 June 2011. The report will be presented by Gerald Engström, CEO, and Glen Nilsson, CFO. To participate in the teleconference, dial +46 (0)8 5052 0337 and enter the code 896887 a few minutes before it begins. The presentation will be published on www.systemair.com
For further information, please contact:
Gerald Engström, CEO, +46 (0)222 440 01, +46 (0)70 519 0001
Glen Nilsson, CFO, +46 (0)222 440 03, +46 (0)70 654 4003
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 (0)222 440 00, www.systemair.com
Note: The information in this Interim Report is that which Systemair AB (NASDAQ OMX Stockholm: SYSR) is required to disclose in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. Swedish and English versions of this information have been submitted for publication at 8.30 am on 9 June 2011.
Systemair in brief
Systemair is a leading ventilation company with operations in 40 countries in Europe, North America, South America, the Middle East, Asia, Africa and Australia. The Company had sales of SEK 3.5 billion in financial 2010/11 and currently employs about 2,500 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 14 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.