Systemair - Financial information summary

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Financial information summary

Presented below is a summary of financial information for the period 2000/2001 to 2007/2008.

Summary of the consolidated profit and loss statements

Swedish Accounting Principles IFRS

As of April 30
MSEK

 2000/
2001		 2001/
2002		 2002/
2003		 2003/
2004		 2004/
2005		 Adj.
IFRS		 2004/
2005		 2005/
2006		 2006/
2007		 2007/
2008
Income 1,235.0 1,589.8 1,685.3 1,710.8 1,895.9 - 1,895.9 2,321.2 2,664.2 3,091.6
Cost of goods sold –867.0 –1,098.1 –1,174.9 –1,157.6 –1,217.2 –2.4 1,214.8 –1,459.4 –1,651.6 –1,927.4
Gross profit/loss 368.0 491.7 510.4 553.2 678.7 2.4 681.1 861.8 1,012.6 1,012.6
Other operating income 19.4 18.6 9.4 22.1 19.0 - 19.0 27.0 29.6 52.8
Selling expenses –199.2 –274.4 –283.0 –349.4 –417.4 10.4 -407.0 –480.6 –531.6 –599.0
Administrative expenses –99.0 –130.4 –127.1 –128.0 –133.1 – –133.1 –135.0 –147.5 –176.0
Other operating expenses –7.4 –11.2 –19.3 –24.1 –13.5 – –13.5 –20.2 –33.7 –39.5
Operating profit/loss 81.8 94.3 90.3 73.8 133.7 12.9 146.6 253.0 329.4 402.5
Net financial
income/expense		 –23.1 –30.2 –23.8 –31.7 –12.3 –2.0 –14.3 –11.3 –18.0 –53.2
Profit/loss after financial
income/expense		 58.7 64.0 66.6 42.1 121.4 10.9 132.3 132.3 311.5 349.3
Tax on the profit/loss
for the year		 –17.1 –27.6 –28.4 –22.7 –45.0 10.4 -34.6 –71.2 –56.9 –101.3

Minority shareholders'
share in the profit/loss
for the year

 1.5 -1.3 –0.2 –1.1 –0.5 0.0 -0.5 –1.0 –1.4 –4.2

Net profit/loss

 43.0 35.2 37.9 18.3 75.9 - 97.2 169.5 253.2 243.8

Summary of the consolidated balance sheets

Swedish Accounting Principles IFRS
As of April 30
MSEK		 2001 2002 2003 2004 2005 Adj.
IFRS		 2005 2006 2007 2008
Assets
Intangible fixed assets 24.9 62.4 49.0 56.3 44.0 13.0 57.0 63.4 76.5 120.5
Tangible fixed assets 373.7  442.9  416.2  432.9  417.9 -  417.9  467.0  617.7  646.0
Financial fixed assets 8.7  17.0  12.2  50.9  72.7  17.0  89.7  105.8  100.5  72.7
Total fixed assets 407.3  522.3 477.5  540.1  534.6  30.0  564.7  636.3  794.7  839.2
Inventories 255.8  328.9  323.5  361.8  376.4  -  376.4  403.8  500.3  510.2
Short-term receivables 257.8  301.3  333.8  314.5  366.5  0.0  366.4  435.0  538.4  702.1
Cash and bank deposits 18.9  45.4  15.6  24.2  21.9  -  21.9  32.1  61.5  117.1
Total current assets 532.5  675.3  672.8  700.4  764.8  0.0  764.7  870.9  1,100.3  1,329.4
Total assets 939.8  1,197.7 1,150.3 1,240.5 1,299.4 30.0  1,329.4  1,507.2 1,895.0 2,168.6
Shareholders' equity and liabilities
Shareholders' equity to Parent
Company's shareholders		 301.1  348.5  383.7  394.8  468.8  18.5  487.3  681.9  631.2  793.1
Minority interests 7.9 5.6  3.6 5.1  5.1 -  5.1  5.9 11.7  15.3
Total shareholders' equity 309.0 354.1  387.3  399.9  473.9  18.5  492.4  687.8  642.9  808.4
Provisions 12.0  17.4  5.8  40.7  44.9  11.3  56.2  64.2  75.5  76.4
Long-term interest-bearing liabilities 243.6  364.0  325.4  273.2  247.9  0.0  0247.9 225.3  251.7  334.1
Long-term non-interest-bearing liabilities – – – – – – – – – –
Long-term liabilities 377.6  535.0  465.4  273.2  247.9  0.0  247.9  225.3  251.7  334.1
Short-term interest-bearing liabilities 177.7  230.0  195.3  284.1  274.5  -  274.5  223.0  512.8  482.7
Short-term non interest-bearing liabilities 197.5  232.2  236.4  242.5  258.1  0.2  258.4  306.9  412.0  467.0
Short-term liabilities 375.2  462.2 431.7 526.6 532.6  0.2  532.9  529.9  924.8  949.7
Total shareholder equity and liabilities 939.8  1,197.7  1,150.3 1,240.5 1,299.4 30.0  1,329.4  1,507.2 1,895.0 2,168.6