2018-06-14 08:00:00

Systemair AB Year-end report 2017/18 - A weak ending of the year

Press Release, 14 June 2018

Systemair ABs (NASDAQ OMX Stockholm: SYSR) Year-end report 2017/18 is published at 08:00 CET on June 14 2018.

Fourth quarter, February 2018 - April 2018

  • Net sales increased by 5.4 percent to SEK 1,827 million (1,733).
  • Organic growth was 1.8 percent (6.8).
  • Operating profit (EBIT) totalled SEK 5 million (48). Profit after tax, adjusted for items affecting comparability amounted to SEK 49 million (67).
  • The operating margin equalled 0.3 percent (2.8).
  • Profit after tax amounted to SEK 11 million (29).
  • Earnings per share totalled SEK 0.22 (0.55).
  • Cash flow from operating activities amounted to SEK -15 million (-26).

12 months, May 2017 - April 2018

  • Net sales rose 6.4 percent to SEK 7,301 million (6,864).
  • Organic growth was 3.6 percent (7.7).
  • Operating profit (EBIT) totalled SEK 350 million (439).
  • The Company's operating margin was 4.8 percent (6.4).
  • Profit after tax amounted to SEK 230 million (294).
  • Earnings per share totalled SEK 4.43 (5.66).
  • Cash flow from operating activities amounted to SEK 225 million (464).
  • The Board of Directors proposes a dividend of SEK 2.00 (2.00) per share.

Roland Kasper, President and CEO, comments:
"Over the fourth quarter, organic growth was 1.8 percent. Growth was robust in several countries within the Nordic region, Western Europe and Eastern Europe, but was weaker in the Middle East, Turkey and India. Earnings for the quarter were mainly impacted by items affecting comparability of a total of SEK 43.7 million associated with a major project with a negative margin, a goodwill impairment charge, and a provision for a large doubtful receivable. Adjusted operating profit totalled SEK 49 million, as against SEK 67 million in the same quarter last year."

A telephone conference will be held at 09:00 CET on June 14, 2018. The report will be presented by Roland Kasper, CEO, and Anders Ulff, CFO.

In order to participate in the telephone conference:
Call +46 (0)8 503 36434 alternative international number +44 (0) 1452 555566 and enter code 9997496 minutes before start. The presentation will be published on www.systemair.com

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 44 009

Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com

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.

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