Systemair Q1 - Sales on a par with one year previous

First quarter, May–July 2009 · Net sales rose 0.3 percent, to SEK 790 million (787). · Operating profit (EBIT) fell 34 percent, to SEK 69 million (103). The operating margin equalled 8.7 percent (13.1). · Profit after tax fell 32 percent, to SEK 47 million (70). · Earnings per share equalled SEK 0.90 (1.33). · Cash flows from operating activities totalled SEK 72 million (73). Significant events during the period · Acquisition of the ventilation company Energo Plus in Slovenia in May. Comments by Gerald Engström, CEO: “We are pleased to have achieved sales comparable to the preceding year’s, though we were helped by foreign exchange and, to some extent, acquisitions. Our operating margin of 8.7 percent during this recession confirms that our cost adjustments have been effective. We have not scaled back our investment in the future: product development, marketing and efficiency enhancements continue apace. We have continued to invest in manufacturing equipment and buildings. We are poised to resume our growth once the economy recovers.”

About Us

Systemair is a leading ventilation company with operations in 38 countries in Europe, Asia, Middle East, South Africa , North America and Australia. The company generated sales of €330m during the last financial year and has approximately 1850 employees. Since the foundation in 1974, Systemair has increased its turnover every year while maintaining good profitability. During the last 10 years, the average annual growth in net sales has been approximately 16 percent. The company has a well established presence in growth markets, especially in Central and Eastern Europe, including Russia. The products are marketed under the brand names Systemair, Frico, VEAB and Fantech.

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