Systemair AB Interim Report Q2 2016/17 - Upward trend continues
Second quarter, August - October 2016
- Net sales increased by 8.9 percent to SEK 1,769 million (1,624).
- Organic growth was 4.8 percent (3.6).
- Operating profit (EBIT) totalled SEK 153 million (134).
- The operating margin was 8.7 percent (8.3).
- Profit after financial items totalled SEK 156 million (119).
- Profit after tax amounted to SEK 115 million (86).
- Earnings per share totalled SEK 2.22 (1.65).
- Cash flow from operating activities amounted to SEK 167 million (122)
First half-year, May-October 2016
- Net sales increased by 7.1 percent to SEK 3,415 million (3,188).
- Organic growth was 6.1 percent (3.8).
- Operating profit (EBIT) totalled SEK 286 million (252).
- The operating margin was 8.4 percent (7.9).
- Profit after financial items totalled SEK 292 million (230).
- Profit after tax amounted to SEK 215 million (166).
- Earnings per share totalled SEK 4.13 (3.20).
- Cash flow from operating activities amounted to SEK 281 million (171).
"In the second quarter, organic growth was recorded at 4.8 percent, while profit again improved compared with a year earlier. The restructuring programme, launched in June, is under way and the effects are starting to show through. The annual cost saving from the programme as a whole is calculated at SEK 45 million, with full impact emerging inside two years. Adjusted operating profit for the quarter amounted to SEK 162.4 million and operating margin was 9.2 percent (8.3).
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 has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 08:00 (CET) on November 24, 2016.
Systemair in brief
Systemair is a leading ventilation company with operations in 49 countries in Europe, North- and South America, the Middle East, Asia and South Africa. The Company had sales of SEK 6.1 billion in financial year 2015/16 and currently employs about 5,000 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 12 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.