Systemair AB Interim Report Q1 2019/20 - A good start to the year
Press Release, August 29, 2019
First quarter, May – July 2019
- Net sales increased by 12.0 percent to SEK 2,254 million (2,013).
- Organic growth was 4.1 percent (5.4).
- Operating profit (EBIT) totalled SEK 173 million (145).
- The operating margin was 7.7 percent (7.2).
- Profit after tax amounted to SEK 128 million (72).
- Earnings per share totalled SEK 2.44 (1.39).
- Cash flow from operating activities amounted to SEK 169 million (75).
Roland Kasper, President and CEO, comments:
“During the first quarter, growth was firm at 12.0 percent, of which 4.1 percent was organic. Growth was especially positive in the Eastern Europe and North America regions. In the Middle East and Asia organic growth was 9 percent. In the Nordic region, we witnessed a slowdown during the quarter. Operating profit improved to SEK 173 million, as against SEK 145 million in the same quarter last year. Profit after tax increased by 78 percent to SEK 128 million compared to SEK 72 million the preceding 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 29, 2019.
Systemair in brief
Systemair is a leading ventilation company with operations in 50 countries in Europe, North America, South America, the Middle East, Asia and Africa. The company had sales of SEK 8.3 billion in the 2018/19 financial year and employs approximately 6,000 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 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 Nasdaq OMX Nordic Exchange in Stockholm since October 2007. The Group comprises about 70 companies.