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Systemair AB Interim Report Q3 2022/23

March 9, 2023, 08:00
Regulatory information

Pressrelease, March 9, 2023

Third quarter, November 2022 – January 2023

  • Net sales increased by 33.6 percent to SEK 3,043 million (2,278).
  • Organic growth was +22.2 percent (+11.8).
  • Adjusted operating profit was SEK 274 million (131). Operating profit (EBIT) amounted to SEK 277 million (131), including hyperinflation adjustments totalling SEK +3 million.
  • The operating margin was 9.1 percent (5.8).
  • Profit after tax amounted to SEK 170 million (95).
  • Earnings per share (basic) equalled SEK 0.79 (0.47).
  • Cash flow from operating activities amounted to SEK +279 million (+27).

Roland Kasper, President and CEO, comments:

“Systemair's third quarter shows continued good growth, turnover increased by 33.6 percent, of which 22.2 percent was organic. Gross margin improved to 34.6 percent (33.3). Adjusted operating profit more than doubled to SEK 274 million (131). Sales development was strong in all regions except Eastern Europe.“

For further information contact:

Roland Kasper, CEO, + 46 73 094 40 13

Anders Ulff, CFO, + 46 70 577 40 09

Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00

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 March 9, 2023.

Systemair in brief
Systemair is a leading ventilation company with operations in 52 countries in Europe, North America, the Middle East, Asia, Australia and Africa. The Company had sales of SEK 9.6 billion in the 2021/22 financial year and today employs approximately 6,900 people. Systemair has reported an operating profit every year since 1974, when the company was founded. Over the past 10 years, growth has averaged 9.4 percent. Systemair helps to improve the indoor climate with the help of energy-efficient and sustainable products that reduce carbon dioxide emissions. 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 Nasdaq OMX Nordic Exchange in Stockholm since October 2007 and are today traded on the Large Cap List. The Group comprises about 90 companies.