Skip to main contentSkip to navigationSkip to search

Systemair Q3, 16% organic growth

February 24, 2011, 08:30
Regulatory information

Third quarter, November 2010-January 2011

  • Net sales rose 12 percent, to SEK 893 million (799).
  • Operating profit (EBIT) advanced 43 percent, to SEK 95 million (67).
  • The operating margin totalled 10.7 percent (8.3).
  • Profit after tax advanced 164 percent, to SEK 97 million (37).
  • Basic and diluted earnings per share equalled SEK 1.87 (0.70).
  • Cash flow from operating activities totalled SEK 178 million (107).

Nine months, May 2010-January 2011

  • Net sales rose 9 percent, to SEK 2,639 million (2,418).
  • Operating profit (EBIT) advanced 49 percent, to SEK 310 million (208).
  • The operating margin totalled 11.7 percent (8.6).
  • Profit after tax increased 74 percent, to SEK 242 million (139).
  • Basic and diluted earnings per share equalled SEK 4.64 (2.67).
  • Cash flow from operating activities totalled SEK 303 million (290).


Gerald Engström, President and CEO, comments:
"The organic growth has accelerated and amounts to 16 percent compared to the same period the preceding year, adjusted for the effects of foreign exchange. The cold winter that arrived early in most of Europe has boosted sales of heating products. Sales of ventilation products were adversely affected by delayed construction projects and supply problems as a consequence of snow and cold weather. Overall, our assessment is that the weather nudged sales in a negative direction."


A teleconference will be held at 9:00 am on 24 February 2011. The report will be presented by Gerald Engström, CEO, and Glen Nilsson, CFO. To participate in the teleconference, dial +46 (0)8 5052 0110 and enter the code 888762 a few minutes before it begins. The presentation will be published on


For further information, please contact:
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,


Note:  The information in this Interim Report is information that 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 24 February 2011.



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 2,500 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 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.