Second quarter August - October 2014
- Net sales increased by 10 percent to SEK 1,554 million (1,414).
- Operating profit (EBIT) totalled SEK 156 million (142).
- Operating margin was 10.1 percent (10.0).
- Profit after tax increased to SEK 117 million (93).
- Earnings per share totalled SEK 2.24 (1.78).
- Cash flow from operating activities amounted to SEK 90 million (130).
First half-year, May - October 2014
- Net sales increased by 8 percent to SEK 2,948 million (2,739).
- Operating profit (EBIT) totalled SEK 268 million (244).
- Operating margin was 9.1 percent (8.9).
- Profit after tax increased to SEK 237 million (152).
- Earnings per share totalled SEK 4.55 (2.92).
- Cash flow from operating activities amounted to SEK 177 million (199).
Gerald Engström, CEO, comments:
"In our year's second quarter, we recorded an operating margin of 10.1 percent, up from 10.0 percent a year earlier. We noted sales growth of 10 percent and organic growth of 2 percent. It is satisfying to be able again to report organic growth in view of the fact that sales in our important Russian market declined by 27 percent."
A telephone conference will be held at 9:00 CET on November 27, 2014. The report will be presented by Gerald Engström, CEO, and Anders Ulff, CFO. A presentation, including an interview with Gerald Engström, will be published on the website in connection with the report. In order to participate in the telephone conference:
Call +46 (0)8 5052 0110 and enter code 949886 minutes before start. The presentation will be published on www.systemair.com
For further information, please contact:
Gerald Engström, CEO, +46 (0)222 440 01, +46 (0)70 519 0001
Anders Ulff, CFO, + 46 (0)222 440 09, + 46 (0)70 577 40 09
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 (0)222 440 00, www.systemair.com
Note: The information in this Interim Report is that which Systemair AB (NASDAQ OMX Stockholm: SYSR) is required to disclose in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. Swedish and English versions of this information have been submitted for publication at 08:00 a.m. on 27 November 2014.
Systemair in brief
Systemair is a leading ventilation company with operations in 45 countries in Europe, North- and South America, the Middle East, Asia and South Africa. The Company had sales of SEK 5.3 billion in financial year 2013/14 and currently employs about 4,500 people. Systemair has reported an operating profit every year since 1974, when the Company was founded. During the past 15 years, the Company's growth rate has averaged about 13 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, VEAB, Fantech, Menerga and Holland Heating 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 60 companies.
