Systemair Year End Report 2011/12 - Net sales were up 25%
Fourth quarter, February - April 2012
- Net sales increased 25 percent to SEK 1,035 million (828).
- Operating profit (EBIT) totalled SEK 45 million (57), excluding nonrecurring items of SEK -40 million (0).
- The operating margin excluding non-recurring items was 4.4 percent (6.9).
- Profit after tax amounted to SEK -5 million (33).
- Earnings per share (basic and diluted) equalled SEK -0.09 (0.61).
- Cash flow from operating activities equalled SEK 6 million (-54).
12 months, May 2011 - April 2012
- Net sales increased 15 percent to SEK 3,997 million (3,467).
- Operating profit (EBIT) totalled SEK 359 million (357), excluding nonrecurring items of SEK -40 million (10).
- The operating margin excluding non-recurring items was 9.0 percent (10.3).
- Profit after tax amounted to SEK 215 million (275).
- Earnings per share (basic and diluted) equalled SEK 4.14 (5.25).
- Cash flow from operating activities totalled SEK 290 million (249).
- The Board of Directors proposes a dividend of SEK 1.25 (1.75) per share.
Gerald Engström, President and CEO, comments:
"Growth in our fourth quarter was 25 percent, with organic growth accounting for 8.4 percent. Our fourth quarter is normally our weakest in terms of profit, and that was again the case this year. Both operating profit and gross margin were adversely affected by new acquired companies, which was not entirely unexpected."
A telephone conference will be held at 9:00 CET on June 8, 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 917759 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 8.00 am on 8 June 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.