Systemair AB Interim Report Q2 2015/16 - Continued growth
Second quarter August-October 2015
- Net sales rose 5 percent to SEK 1,624 million (1,554).
- Operating profit (EBIT) totalled SEK 134 million (156).
- Systemair's operating margin was 8.3 percent (10.1).
- Profit after tax fell to SEK 86 million (117).
- Earnings per share totalled SEK 1.65 (2.24).
- Cash flow from operating activities amounted to SEK 122 million (90).
First half-year, May-October 2015
- Net sales rose 8 percent to SEK 3,188 million (2,948).
- Operating profit (EBIT) totalled SEK 252 million (268).
- Systemair's operating margin was 7.9 percent (9.1).
- Profit after tax fell to SEK 166 million (237).
- Earnings per share totalled SEK 3.20 (4.55).
- Cash flow from operating activities amounted to SEK 171 million (177).
Roland Kasper, President and CEO, comments:
"This was my first quarter as CEO of Systemair. The second quarter is normally our strongest period, but a relatively weak market in several countries resulted in growth of 5 percent and lower profitability. Nevertheless, we can for the twenty-third consecutive quarter report organic growth, on this occasion of 3.6 percent. The operating margin was 8.3 percent, negatively affected by declining volumes in Russia. We are engaged in a number of activities and restructuring measures to boost earnings."
A telephone conference will be held at 9:00 CET on November 26, 2015. The report will be presented by Roland Kasper, CEO, and Anders Ulff, CFO. In order to participate in the telephone conference call +46 (0)8 5052 0110 and enter code 956417 minutes before start. The presentation will be published on www.systemair.com
For further information, please contact:
Roland Kasper, CEO, + 46 73 094 40 13
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 p.m. on 26 November 2015.
Systemair in brief
Systemair is a leading ventilation company with operations in 47 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 4,700 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.