Systemair AB Interim Report Q1 2014/15 - Continued growth and improved profit
First quarter, May - July 2014
- Net sales increased by 5 percent to SEK 1,394 million (1,325).
- Operating profit (EBIT) totalled SEK 111 million (102).
- The operating margin was 8.0 percent (7.7).
- Profit after tax increased to SEK 120 million (59).
- Earnings per share totalled SEK 2.31 (1.14).
- Cash flow from operating activities totalled SEK 88 million (69).
Gerald Engström, CEO, comments:
"In our year's first quarter, we recorded an operating margin of 8.0 percent, up from 7.7 percent a year earlier. We are also able to report a continued organic growth, of 2 percent. During the quarter we have worked intensively on newly acquired companies. We are pleased to have been able, despite a relatively weak market, to increase both margin and sales."
For further information, please contact:
Gerald Engström, CEO, +46 (0)222 440 01, +46 (0)70 519 0001
Anders Ulff, CFO, + 46 (0)222 440 09, + 46 (0)70 577 40 09
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 28 August 2014.
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 5.3 billion in financial year 2013/14 and currently employs about 4,500 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.