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Systemair Interim Report Q2 2011/12 - Operating profit +19 %

November 30, 2011, 08:30
Regulatory information

Second quarter August 2011 - October 2011

  • Net sales were up 11 percent to SEK 1,027 million (929).
  • Operating profit (EBIT) increased 19 percent, to SEK 130 million (110)*.
  • The operating margin was 12.7 percent (11.7)*.
  • Profit after tax increased by 19 percent, to SEK 95 million (80).
  • Earnings per share (basic and diluted) equalled SEK 1.83 (1.53).
  • Cash flow from operating activities totalled SEK 95 million (70).

First half-year, May 2011 - October 2011

  • Net sales increased by 11 percent to SEK 1,931 million (1,746).
  • Operating profit (EBIT) rose 6 percent, to SEK 217 million (204)*.
  • The operating margin was 11.2 percent (11.7)*.
  • Profit after tax advanced 4 percent, to SEK 150 million (145).
  • Earnings per share (basic and diluted) equalled SEK 2.89 (2.77).
  • Cash flow from operating activities equalled SEK 147 million (125).

*) The operating profit and operating margin for the preceding year have been adjusted to discount a capital gain of +SEK 10.5 million on a property sale.

Gerald Engström, President and CEO, comments:

"We passed SEK 1 billion in quarterly sales, an important milestone for the business. Growth over the quarter was 11 percent, while operating profit increased by 19 percent if the sale of a property last year is discounted. Developments in Norway, Denmark and Russia were especially satisfactory. We have completed our major investments in our central production facilities."

A telephone conference will be held at 9:00 CET on November 30, 2011. The report will be presented by Gerald Engström, CEO, and Glen Nilsson, CFO. A presentation, including an interview with CEO Gerald Engström, will be published on the website in connection with the report. In order to participate in the telephone conference:
Call +46 (0)8 5052 0110 and enter code 908096 minutes before start. The presentation will be published on

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,

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 30 November 2011.

Systemair in brief

Systemair is a leading ventilation company with operations in 41 countries in Europe, North & South America, the Middle East, Asia, Africa and Australia. The Company had sales of SEK 3.47 billion in financial 2010/11 and currently employs about 2,800 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.