Systemair Interim Report Q1 2012 - Growth 21%
First quarter, May - July 2012
- Net sales increased by 21 percent to SEK 1,091 million (905).
- Operating profit (EBIT) rose 14 percent, to SEK 99 million (87).
- The operating margin was 9.0% (9.6).
- Profit after tax increased to to SEK 73 million (55).
- Earnings per share equalled SEK 1.40 (1.06).
- Cash flow from operating activities totalled SEK 60 million (52).
Gerald Engström, President and CEO, comments:
"Growth in the first quarter amounted to all of 21 percent. This improvement is largely attributable to the acquisitions we have made. Organic growth was just 1 percent, an indication that the economy has still not taken off and that many markets show negative growth. The fact that we can report an operating margin of 9 percent is a sign of strength."
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 1.00 p.m. on 29 August 2012.
Systemair in brief
Systemair is a leading ventilation company with operations in 44 countries in Europe, North & South America, the Middle East, Asia and South Africa. The Company had sales of SEK 4 billion in financial 2011/12 and currently employs about 3,300 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 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.