Second quarter August-October 2015
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Net sales rose 5 percent to SEK 1,624 million (1,554).
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Operating profit (EBIT) totalled SEK 134 million (156).
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Systemair`s operating margin was 8.3 percent (10.1).
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Profit after tax fell to SEK 86 million (117).
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Earnings per share totalled SEK 1.65 (2.24).
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Cash flow from operating activities amounted to SEK 122 million (90).
First half-year, May-October 2015
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Net sales rose 8 percent to SEK 3,188 million (2,948).
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Operating profit (EBIT) totalled SEK 252 million (268).
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Systemair`s operating margin was 7.9 percent (9.1).
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Profit after tax fell to SEK 166 million (237).
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Earnings per share totalled SEK 3.20 (4.55).
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Cash flow from operating activities amounted to SEK 171 million (177).
Roland Kasper, President and CEO, comments:
"This was my first quarter as CEO of Systemair. The second quarter is normally our strongest period, but a relatively weak market in several countries resulted in growth of 5 percent and lower profitability. Nevertheless, we can for the twenty-third consecutive quarter report organic growth, on this occasion of 3.6 percent. The operating margin was 8.3 percent, negatively affected by declining volumes in Russia. We are engaged in a number of activities and restructuring measures to boost earnings."
A telephone conference will be held at 9:00 CET on November 26, 2015. 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 5052 0110 and enter code 956417 minutes before start. The presentation will be published on www.systemair.com
For further information, please contact:
Roland Kasper, CEO, + 46 73 094 40 13
Anders Ulff, CFO, + 46 (0)222 440 09, + 46 (0)70 577 40 09
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 (0)222 440 00, www.systemair.com
Note: The information in this Interim Report is that which Systemair AB (NASDAQ OMX Stockholm: SYSR) is required to disclose in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. Swedish and English versions of this information have been submitted for publication at 08:00 p.m. on 26 November 2015.
Systemair in brief
Systemair is a leading ventilation company with operations in 47 countries in Europe, North- and South America, the Middle East, Asia and South Africa. The Company had sales of SEK 5.9 billion in financial year 2014/15 and currently employs about 4,700 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 13 percent.