Systemair AB Interim Report Q2 2019/20 - A strong quarter
Press Release, December 5, 2019
Second quarter, August – October 2019
- Net sales increased by 15.4 percent to SEK 2,483 million (2,151).
- Organic growth was 6.0 percent (9.1).
- Operating profit (EBIT) totalled SEK 284 million (189).
- The operating margin was 11.4 percent (8.8).
- Profit after tax amounted to SEK 194 million (126).
- Earnings per share totalled SEK 3.72 (2.42).
- Cash flow from operating activities amounted to SEK 271 million (87).
Roland Kasper, President and CEO, comments:
“During the second quarter, growth was recorded at 15.4 percent, of which 6.0 percent was organic. All regions except the Nordic region show good growth, with Eastern Europe and North America at the forefront. The second quarter of the financial year is usually Systemair’s strongest in terms of earnings. As a result of actions taken and effective capacity utilisation in the majority of factories, the gross margin continued to improve. Operating profit also improved, to SEK 284 million corresponding to 11.4 percent, as against SEK 189 million in the same quarter last year. Over the past nine years, Systemair has shown organic growth during all quarters with one exception.”
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 08:00 (CET) on December 5, 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.