Systemair AB Interim Report Q3 2015/16 - Soft climate
Third quarter, November 2015 - January 2016
- Net sales declined 1 percent, to SEK 1,416 million (1,432).
- Operating profit (EBIT) totalled SEK 30 million (54).
- The operating margin was 2.1 percent (3.8).
- Profit after tax fell to SEK 13 million (44).
- Earnings per share totalled SEK 0.25 (0.84).
- Cash flow from operating activities amounted to SEK 38 million (77).
Nine months, May 2015 - January 2016
- Net sales rose 5 percent to SEK 1,624 million (1,554).
- Operating profit (EBIT) totalled SEK 282 million (322).
- The operating margin was 6.1 percent (7.3).
- Profit after tax fell to SEK 179 million (281).
- Earnings per share totalled SEK 3.45 (5.39).
- Cash flow from operating activities totalled SEK 209 million (254).
Roland Kasper, President and CEO, comments:
"The third quarter was characterised by weak development in several markets. Sales fell by 1 percent organically, but incoming orders were strengthened by a number of major projects. We are working intensively on the launch of new products within several applications to ensure future growth. Reduced volumes affect profitability. Operating margin totalled 2.1 percent, compared to 3.8 percent in the same quarter of the previous year. A number of efficiency activities and restructuring projects have been initiated, including at Menerga in Germany with annual saving of around SEK 12 million at an on-off cost of SEK 10 million."
A telephone conference will be held at 9:00 CET on March 3, 2016. 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 957791 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 3 March 2016.
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.