Systemair AB Interim Report Q1 2017/18 - Continued strong growth
Press Release, August 24, 2017
First quarter, May - July 2017
- Net sales increased by 11.6 percent to SEK 1,837 million (1,646).
- Organic growth was 4.2 percent (7.4).
- Operating profit (EBIT) totalled SEK 133 million (133).
- The operating margin was 7.2 percent (8.1).
- Profit after tax amounted to SEK 76 million (100).
- Earnings per share totalled SEK 1.45 (1.91).
- Cash flow from operating activities amounted to SEK 74 million (114).
Roland Kasper, President and CEO, comments:
"In the first quarter, growth totalled 11.6 percent, 4.2 percent organic. Several regions reported strong growth, notably Eastern Europe, led by Russia, and the Nordic region. The gross margin of 33.0 percent was lower than anticipated. In Sweden, France and Denmark, certain production disruptions occurred in connection with new machinery being commissioned and large numbers of new recruitments. The product mix also affected the gross margin negatively. The process of constructing a platform for more profitable growth going forward continues, in the form of profit-enhancing measures in production, purchasing, sales and logistics."
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 under the EU's market abuse regulation. The information was published at 13:00 (CET) on August 24, 2017.
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 6.9 billion in financial year 2016/17 and currently employs about 5,200 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 10 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.