Systemair AB Year-end report 2016/17 - One year in the right direction
Press Release, 8 June 2017
Systemair ABs (NASDAQ OMX Stockholm: SYSR) Year-end report 2016/17 is published at 08:00 CET on June 8, 2017.
Fourth quarter, February 2017 - April 2017
- Net sales increased by 14.9 percent to SEK 1,733 million (1,509).
- Organic growth was 6.8 percent (4.0).
- Operating profit (EBIT) totalled SEK 48 million (62). Operating profit adjusted for effects of restructuring programme totalled SEK 67 million.
- The operating margin was 2.8 percent (4.1).
- Profit after tax amounted to SEK 29 million (28).
- Earnings per share totalled SEK 0.55 (0.53).
- Cash flow from operating activities amounted to SEK -26 million (-40).
12 months, May 2016 - April 2017
- Net sales increased by 12.3 percent to SEK 6,864 million (6,113).
- Organic growth was 7.7 percent (2.6).
- Operating profit (EBIT) totalled SEK 439 million (344). Operating profit adjusted for effects of restructuring programme totalled SEK 484 million.
- The operating margin was 6.4 percent (5.6).
- Profit after tax amounted to SEK 294 million (207).
- Earnings per share totalled SEK 5.66 (3.98).
- Cash flow from operating activities amounted to SEK 464 million (169).
- The Board of Directors proposes a dividend of SEK 2.00 (2.00) per share.
Roland Kasper, President and CEO, comments:
"In the fourth quarter, growth totalled 14.9 percent, 6.8 percent organic. Over the whole year, growth increased 12.3 percent, 7.7 percent organic. In view of the caution prevailing in many markets, this may be seen as a good performance. Operating profit in the quarter landed below anticipation, partly because of a series of non-recurring items. Adjusted operating profit for the quarter amounted to SEK 67 million, as against SEK 62 million in the same quarter last year. Restructuring costs in the quarter totalled SEK 19 million. Adjusted profit for the whole year increased to SEK 484 million, from SEK 354 million in the preceding year."
A telephone conference will be held at 9:00 CET on June 8, 2017. 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 962104 minutes before start.
The presentation will be published on www.systemair.com
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 44 009
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 50 countries in Europe, North- and South America, the Middle East, Asia and Africa. The Company had sales of SEK 6.9 billion in financial year 2016/17 and currently employs about 5,200 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 10 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, Fantech and Menerga 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 70 companies.