Systemair AB Interim Report Q1 - Continued organic growth
First quarter, May - July 2013
- Net sales increased by 21 percent to SEK 1,325 million (1,091).
- Operating profit (EBIT) totalled SEK 102 million (99).
- The operating margin was 7.7 percent (9.0).
- Profit after tax fell to SEK 59 million (73).
- Earnings per share totalled SEK 1.14 (1.40).
- Cash flow from operating activities totalled SEK 69 million (60).
Gerald Engström, CEO, comments:
"During our first quarter, we recorded a sales increase of 21 percent. The increase is largely attributable to the acquisitions completed, Menerga in Germany, Holland Heating and HSK in Turkey. Gratifyingly, we can also report continued organic growth of 6 percent. During the quarter, we focused hard on integrating and restructuring the companies acquired."
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 13.00 p.m. on 29 August 2013.
Systemair in brief
Systemair is a leading ventilation company with operations in 44 countries in Europe, North- and South America, the Middle East, Asia and South Africa. The Company had sales of SEK 4.55 billion in financial 2012/13 and currently employs about 4,100 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 13 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, VEAB, Fantech, Menerga and Holland Heating 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.