Systemair AB Year End Report 2014/15 - Good organic growth
Fourth quarter, February-April 2015
- Net sales increased by 19 percent to SEK 1,502 million (1,259).
- Operating profit (EBIT) totalled SEK 55 million (25).
- The operating margin was 3.7 percent (2.0).
- Profit after tax increased to SEK 29 million (21*).
- Earnings per share totalled SEK 0.56 (0.42*).
- Cash flow from operating activities amounted to SEK -13 million (-50).
12 months, May 2014 - April 2015
- Net sales increased by 11 percent to SEK 5,882 million (5,296).
- Operating profit (EBIT) totalled SEK 377 million (317).
- The operating margin was 6.4 percent (6.0).
- Profit after tax increased to SEK 310 million (193*).
- Earnings per share totalled SEK 5.96 (3.71*).
- Cash flow from operating activities amounted to SEK 241 million (249).
- The Board of Directors proposes a dividend of SEK 2.00 (3.00**) per share.
*Excludes a capital gain of SEK 246 million from the sale of the Company's shareholding in Lindab.
** Includes an extra dividend of SEK 1.50 from the sale of the Company's shareholding in Lindab.
Gerald Engström, President and CEO, comments:
"The year ended on a strong note, with organic growth of 8 percent. Profit was lower than expected, even if our fourth quarter usually is our weakest. We continued to have expenses for restructuring of Menerga's production and sales company, as well as for our Italian production of chillers. The Russian market has remained weak. Nevertheless, we are pleased to report a positive earnings trend compared with last year."
A telephone conference will be held at 9:00 CET on June 11, 2015. The report will be presented by Gerald Engström, CEO, and Anders Ulff, CFO. In order to participate in the telephone conference call +46 (0)8 5052 0110 and enter code 953671 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 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.