Systemair AB Interim Report Q2 - Organic growth maintained in Q2
Second quarter, August-October 2013
- Net sales increased by 16 percent to SEK 1,414 million (1,216).
- Operating profit (EBIT) totalled SEK 142 million (141).
- Operating margin was 10.0 percent (11.6).
- Profit after tax increased to SEK 93 million (89).
- Earnings per share totalled SEK 1.78 (1.71).
- Cash flow from operating activities totalled SEK 130 million (143).
First half-year, May-October 2013
- Net sales increased by 19 percent to SEK 2,739 million (2,307).
- Operating profit (EBIT) totalled SEK 244 million (239).
- Operating margin was 8.9 percent (10.4).
- Profit after tax fell to SEK 152 million (162).
- Earnings per share totalled SEK 2.92 (3.11).
- Cash flow from operating activities totalled SEK 199 million (204).
Gerald Engström, CEO, comments:
"Systemair again recorded organic growth, for the 15th successive quarter. Several of the Group's companies posted new sales records in October. The Group's sales increased by 16 percent in Q2. The increase is for the most part attributable to the acquisitions of Menerga in Germany and Holland Heating in the Netherlands. The operating margin of 10 percent is lower than in the corresponding period last year. This was due, above all, to needs for restructuring in some of the recent company acquisitions."
A telephone conference will be held at 9:00 CET on November 28, 2013. The report will be presented by Gerald Engström, CEO, and Glen Nilsson, CFO. A presentation, including an interview with 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 938850 five 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 28 November 2013.
Systemair in brief
Systemair is a leading ventilation company with operations in 45 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 4,200 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.