Systemair AB Interim Report Q1 2015/16 - Continued organic growth
First quarter, May - July 2015
- Net sales rose 12 percent to SEK 1,563 million (1,394).
- Operating profit (EBIT) totalled SEK 117 million (111).
- Systemair's operating margin was 7.5 percent (8.0).
- Profit after tax fell to SEK 81 million (120).
- Earnings per share totalled SEK 1.55 (2.31).
- Cash flow from operating activities amounted to SEK 49 million (88).
Gerald Engström, President and CEO, comments:
"During our first quarter, we achieved growth of 12 percent. We also continue to grow organically, for the 22nd quarter in a row, this time with 4 percent. With the exception of Russia, the sales trend was positive in several markets. The operating margin was 7.5 percent and has been affected by a decline in volumes in Russia. We are though happy to see positive effects of restructuring efforts in some of the newly acquired companies. This is my final quarter as President and CEO and I am convinced that Systemair will continue to develop strongly with Roland Kasper at the helm."
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 27 August 2015.
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 5.9 billion in financial year 2014/15 and currently employs about 4,600 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.