Systemair AB Interim Report Q1 2017/18 - A good start to the year
Press Release, August 30, 2018
First quarter, May - July 2018
- Net sales increased by 9.6 percent to SEK 2,013 million (1,837).
- Organic growth was 5.4 percent (4.2).
- Operating profit (EBIT) totalled SEK 145 million (133).
- The Company's operating margin was 7.2% (7.2).
- Profit after tax amounted to SEK 72 million (76).
- Earnings per share totalled SEK 1.38 (1.45).
- Cash flow from operating activities amounted to SEK 75 million (-74).
Roland Kasper, President and CEO, comments:
"During the first quarter, growth was good at 9.6 percent, of which 5.4 percent was organic. Growth was particularly positive in the Western and Eastern Europe regions, but demand is still strong in the Nordic region too. Systemair's gross margin was lower than in the same period last year, affected by the major project for which a loss was recognised in the fourth quarter. Final delivery of the order has been made during the first quarter. Operating profit improved to SEK 145 million, as against SEK 133 million in the same quarter last year."
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 is obliged to make public under the EU's market abuse regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 13:00 (CET) on August 30, 2018.
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 7.3 billion in financial year 2017/18 and currently employs about 5,500 people. Systemair has reported an operating profit every year since 1974, when the Company was founded. During the past 10 years, the Company's growth rate has averaged about 9 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.