Systemair Interim Report Q3 2011/12 - Net sales were up 15%
Third quarter, November 2011 - January 2012
- Net sales increased by 15 percent to SEK 1,031 million (893).
- Operating profit (EBIT) increased 2 percent to SEK 97 million (95).
- The operating margin was 9.4 percent (10.7).
- Profit after tax decreased 28 percent, to SEK 70 million (97).
- Earnings per share (basic and diluted) equalled SEK 1.35 (1.87).
- Cash flow from operating activities totalled SEK 137 million (178).
Nine months, May 2011 - January 2012
- Net sales increased by 12 percent to SEK 2,962 million (2,639).
- Operating profit (EBIT) increased 5 percent to SEK 314 million (299)*.
- The operating margin was 10.6 percent (11.3)*.
- Profit after tax decreased 5 percent, to SEK 220 million (232)*.
- Earnings per share (basic and diluted) equalled SEK 4.23 (4.64).
- Cash flow from operating activities totalled SEK 284 million (303).
*)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:
"Systemair recorded growth of just over 15 percent, and for the second successive quarter net sales exceeded SEK 1 billion. Operating profit was in line with the previous year, but the operating margin was lower, 9.4 percent (10.7), mainly because some acquisitions are not yet contributing and demand remains weak on a number of markets. Sales of heating products, which show a high margin, declined as a result of the mild winter."
A telephone conference will be held at 9:00 CET on March 6, 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 913094 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 8.30 am on 6 March 2012.
Systemair in brief
Systemair is a leading ventilation company with operations in 42 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 3,100 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.