Systemair Interim Report Q2 2012/13 - Sales increased by 18%
Second quarter August-October 2012
Net sales increased by 18 percent to SEK 1,216 million (1,027).
Operating profit (EBIT) rose 8 percent to SEK 141 million (130).
An operating margin of 11.6 percent (12.7) was produced.
Profit after tax fell to SEK 89 million (95).
Earnings per share of SEK 1.71 (1.83) were achieved.
Cash flow from current operations totalled SEK 143 million (95).
First half-year, May-October 2012
Net sales increased by 19 percent to SEK 2,307 million (1,931).
Operating profit (EBIT) rose 10 percent, to SEK 239 million (217).
The operating margin was 10.4 percent (11.2).
Profit after tax amounted to SEK 162 million (150).
Earnings per share was calculated at SEK 3.11 (2.89).
Cash flow from operating activities totalled SEK 204 million (147).
Gerald Engström, President and CEO, comments:
"Our sales increased by 18.4 percent while our organic growth in the second quarter totalled 10.5 percent. This was generated by strong growth in our major markets, with Russia in the lead. The fact that we can also report an operating margin of 11.6 percent, is to us a sign of strength, in view of the uncertainty that prevails in many markets."
A telephone conference will be held at 9:00 CET on November 30, 2012. 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 925859 minutes before start. 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 08.00 a.m. on 30 November 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 3,400 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.