Continued growth for Systemair
The ventilation company Systemair continues to grow even if the growth rate have
been reduced. During the third quarter (Nov-Jan) for the split fiscal year
2008/2009, the net turnover increased by 5 percent to 807 MSEK (769). Net profit
decreased by 13 percent to 54 MSEK (63).
For the fiscal year's first 9 months the net turnover increased by 11 percent to
2 541 MSEK (2 296) and net profit by 13 percent to 224 MSEK (198).
- Our third quarter includes both December and January, so we had the calendar
and the economy going against us. With that in mind, we are satisfied with
growth of 5%, says Gerald Engström, CEO Systemair. - The global financial crisis
has led to falling volumes, especially in Russia and Ukraine but also in Spain
and Ireland. However, for us healthy growth continued in parts of Western
Europe, Eastern Europe and in Asia. We adjusted expenditure throughout the
period under review. We remain cautiously positive about the outlook for sales.
Our aim is to continue growing even when demand slumps, by developing new
products, marketing consistently and expanding our geographic presence through
acquisitions and new operations.
The interim report as a whole is available on the website www.systemair.com from
March 5 at 08.30.
For further information please contact:
Lars Hansson, Chairman of the Board, mobile +4670 895 90 02
Gerald Engström, CEO, +46222-440 01, mobile +4670 519 00 01
Glen Nilsson, CFO, +46222-44003, mobile +4670 654 40 03
Systemair in brief
Systemair is a leading ventilation company with operations in 38 countries in
Europe, North America, the Middle East, Asia, Africa and Australia. The Company
had sales of approximately SEK 3.1 billion in the 2007/08 financial year and
currently employs about 1,950 people. Since it was founded in 1974, the Company
has increased sales every year and at the same time reported an operating
profit. During the past three years, the Company's growth rate has averaged
roughly 18 percent. The Group comprises about 50 companies.
Systemair has well-established operations in growth markets. The Group's
products are marketed under the Systemair,Frico, VEAB and Fantech brands.
Systemair shares have been quoted on the Mid Cap List of the OMX Nordic Exchange
in Stockholm since October 2007.
