Systemair AB Interim Report Q2 2018/19 - Strong growth and improved profitability
Press Release, December 5, 2018
Second quarter, August - October 2018
- Net sales increased by 15.4 percent to SEK 2,151 million (1,864).
- Organic growth was 9.1 percent (4.2).
- Operating profit (EBIT) totalled SEK 189 million (144).
- The operating margin was 8.8 percent (7.7).
- Profit after tax amounted to SEK 126 million (101).
- Earnings per share totalled SEK 2.43 (1.95).
- Cash flow from operating activities amounted to SEK 87 million (100).
Roland Kasper, President and CEO, comments:
"During the second quarter, growth was recorded at 15.4 percent, of which 9.1 percent was organic. All regions reported good growth, especially North America and Asia. Our gross margin showed a degree of improvement through price increases and good capacity utilisation. Operating profit improved to SEK 189 million, as against SEK 144 million in the same quarter last 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 08:00 (CET) on December 5, 2018.
Systemair in brief
Systemair is a leading ventilation company with operations in 50 countries in Europe, North- and South America, the Middle East, Asia and Africa. The Company had sales of SEK 7.3 billion in financial year 2017/18 and currently employs about 5,500 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 9 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 OMX Nordic Exchange in Stockholm since October 2007. The Group comprises about 70 companies.