Systemair AB Interim Report Q1 2016/17 - Strong growth and improved profit
First quarter, May - July 2016
- Net sales increased by 5.3 percent to SEK 1,646 million (1,563).
- Organic growth was 7.4 percent (4.0).
- Operating profit (EBIT) totalled SEK 133 million (117).
- The operating margin was 8.1 percent (7.5).
- Profit after financial items totalled SEK 135 million (111).
- Profit after tax amounted to SEK 100 million (81).
- Earnings per share totalled SEK 1.91 (1.55).
- Cash flow from operating activities amounted to SEK 114 million (49).
Roland Kasper, President and CEO, comments:
"In the first quarter, organic growth topped over 7 percent, while profit improved, compared with a year earlier. Work on the restructuring programme, launched at the end of the previous quarter, has begun. The annual cost saving from the programme as a whole is calculated at SEK 45 million, with full impact emerging inside two years. At the same time, actions to increase profit are under way in production, purchasing, sales and logistics. The goal is clear: Systemair will return to an operating margin of more than 10 percent, while maintaining growth. ."
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13, +46 222 440 13
Anders Ulff, CFO, + 46 70 577 40 09, +46 222 440 09
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
Note: The information here is that which Systemair AB has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 13:00 (CET) on August 25, 2016.
Systemair in brief
Systemair is a leading ventilation company with operations in 49 countries in Europe, North- and South America, the Middle East, Asia and Africa. The Company had sales of SEK 6.1 billion in financial year 2015/16 and currently employs about 4,800 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 12 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.