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Systemair AB Year End Report 2013/14 - Continued organic growth

June 11, 2014, 08:00
Regulatory information

Fourth quarter, February 2014 - April 2014

  • Net sales increased by 12 percent to SEK 1,259 million (1,124).
  • Operating profit (EBIT) totalled SEK 25 million (36).
  • The operating margin was 2.0 percent (3.2).
  • Profit after tax amounted to SEK 267* million (24).
  • Earnings per share totalled SEK 5.14* (0.46).
  • Cash flow from operating activities was negative, at SEK -50 million (15).

12 months, May 2013 - April 2014

  • Net sales increased by 16 percent to SEK 5,296 million (4,551).
  • Operating profit (EBIT) totalled SEK 317 million (365).
  • The operating margin was 6.0 percent (8.0).
  • Profit after tax amounted to SEK 439* million (241).
  • Earnings per share totalled SEK 8.44* (4.63).
  • Cash flow from operating activities amounted to SEK 249 million (344).
  • The Board of Directors proposes a dividend of SEK 1.50 (1.50) per share, plus an extra dividend of SEK 1.50, making a total of SEK 3.00 per share.

*Includes a capital gain of SEK 246 million from the sale of the Company's shareholding in Lindab.

Gerald Engström, CEO, comments: 
"We recorded organic growth for the 17th successive quarter, although on this occasion it was a slim 2.4 percent. Profit was lower than anticipated, even if our fourth quarter normally is our weakest. Continued restructuring of Menerga's production and sales companies burdened earnings for the period. We sold the Company's shareholding in Lindab during the quarter, producing a capital gain of SEK 246 million, with the result that despite everything we recorded our strongest net result of all time."

A telephone conference will be held at 9:00 CET on June 11, 2014. The report will be presented by Gerald Engström, CEO, and Anders Ulff, 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 945336 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
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 08.00 a.m. on 11 June 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 4,250 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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