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Systemair AB Year-end report 2012/13 - Organic growth for 13th successive quarter

June 11, 2013, 08:00
Regulatory information

Fourth quarter, February 2013 - April 2013

  • Net sales increased by 9 percent to SEK 1,124 million (1,035).
  • Operating profit (EBIT) totalled SEK 36 million (6*).
  • The operating margin was 3.2 percent (0.5*).
  • Profit after tax increased to SEK 24 million (-5*).
  • Earnings per share totalled SEK 0.46 (-0.09*).
  • Cash flow from operating activities totalled SEK 15 million (6).

12 months, May 2012 - April 2013

  • Net sales increased by 14 percent to SEK 4,551 million (3,997).
  • Operating profit (EBIT) increased by 14 percent, to SEK 365 million (320*).  
  • The operating margin was 8.0 percent (8.0*).
  • Profit after tax increased to SEK 241 million (215*).
  • Earnings per share totalled SEK 4.63 (4.14*).
  • Cash flow from operating activities totalled SEK 344 million (290).
  • The Board of Directors proposes a dividend of SEK 1.50 (1.25) per share.

*Including non-recurring items of SEK -40 million in Q4 2011/12.

Gerald Engström, CEO, comments:
"Our last quarter is normally our weakest, and unfortunately that was the case again this year. Results felt the effects not only of weakness in the economy but also the harsh winter and a stronger Swedish krona. Low volumes in a number of manufacturing companies were another factor underlying low gross margins. That we, despite this head wind, were able to achieve organic growth again in this quarter is encouraging."

A telephone conference will be held at 9:00 CET on June 11, 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 933160 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 11 June 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 3,600 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.

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