Systemair AB Interim Report Q3 2017/18 - A quarter affected by restructuring costs
Press Release, March 15, 2018
Third quarter, November 2017 - January 2018
- Net sales increased by 3.4 percent to SEK 1,773 million (1,715).
- Organic growth was 4.0 percent (12.2).
- Operating profit (EBIT) totalled SEK 68 million (105).
- The operating margin was 3.8 percent (6.1).
- Profit after tax amounted to SEK 42 million (51).
- Earnings per share totalled SEK 0.80 (0.98).
- Cash flow from operating activities amounted to SEK 67 million (209).
Roland Kasper, President and CEO, comments:
"Over the third quarter, organic growth amounted to 4.0 percent. Growth was good in most of Western Europe, Slovakia, Canada and Russia. Profits for the quarter were somewhat a disappointment and impacted by larger project deliveries with low margins and non-recurring items in connection with continued restructuring. Non-recurring items for the quarter totalled SEK 21 million. Adjusted operating profit totalled SEK 88 million, as against SEK 105 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 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 08:00 (CET) on March 15, 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 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.