Strong year end for Systemair
Strong year end for Systemair The ventilation company, Systemair reports a strong growth for the fourth quarter increasing net sales with 23 procent and operating profit with 32 procent. For the fiscal year 2007/2008 (May 1st - April 30th). Net sales increased 16% to 3092 Mkr (2664) and operating profit (EBIT) 22 procent to 403 Mkr (329). -Growth is continued strong in Eastern Europe says Gerald Engström, CEO for Systemair. - Acquisition of the ventilation companies Koolclima in Spain and Climaproduct in Italy expands our range of products and strengthens our position in the European market. We are also increasing our efforts on the Asian market and have established a sales company in Australia. -After the end of the fiscal year we have acquired companies in Malaysia and in the USA. We now have a total of 12 production facilities in Europe and North America and sales offices in 38 countries. The full closing accounts are available from today on the company's homepage: www.systemair.se. For further information please contact: Lars Hansson, Chairman of the Board, mobile +46 070-895 90 02 Gerald Engström, Group President, +46-(0)222-440 01, mobile +46 (0)70-519 00 01 Glen Nilsson, CFO, +46 (0)222-44003, mobile +46 (0)70-654 40 03 Systemair in brief Systemair is a leading ventilation company with activities in 38 countries in Europe, North America, Asia, the Middle East, South Africa and Australia. Sales amounted to approx.SEK 3.1 billion for the fiscal year 2007/2008 and the Company has approx. 1,800 employees. Since its start in 1974, Systemair has yearly increased sales while at the same time achieving positive operating profits. Over the past 3 years, the Company has had an average annual sales growth of 18 percent. The Group comprises around 50 companies. Systemair has well-established operations in a number of growth markets - notably those of Central and Eastern Europe, including Russia. The Group's products are marketed under the brands Systemair, Frico, VEAB and Fantech. Systemair´s share has been traded on the Mid Cap List of the OMX Nordic Exchange in Stockholm since October 12th, 2007.