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Systemair AB Interim Report Q4 2018/19 – A strong finish to the year

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Press Release, June 11, 2019

Fourth quarter February 2019 – April 2019

  • Net sales increased by 17.3 percent to SEK 2,144 million (1,827).
  • Organic growth was 9.3 percent (1.8).
  • Operating profit (EBIT) was SEK 114 million (5)*, representing an operating margin of 5.3 percent (0.3)
  • Profit after tax amounted to SEK 78 million (11).
  • Earnings per share totalled SEK 1.50 (0.22).
  • Cash flow from operating activities amounted to SEK +36 million (-15).

12 months, May 2018 – April 2019

  • Net sales increased by 14.0 percent to SEK 8,326 million (7 301).
  • Organic growth was 7.6 percent (3.6).
  • Operating profit (EBIT) was SEK 528 million (350)*, representing an operating margin of 6.3 percent (4.8).
  • Profit after tax amounted to SEK 321 million (230).
  • Earnings per share totalled SEK 6.18 (4.43).
  • Cash flow from operating activities amounted to SEK 387 million (225).
  • The Board of Directors proposes a dividend of SEK 2.00 (2.00) per share.

* Profit for the preceding quarter and year includes items affecting comparability totalling SEK -43.7 million.

Roland Kasper, President and CEO, comments:
“In the fourth quarter, growth was recorded at 17.3 percent, of which 9.3 percent was organic. Operating profit improved to SEK 114 million, as against SEK 5 million in the same quarter last year. The adjusted profit for the preceding year was SEK 49 million. Western Europe and North America, above all, showed good growth in the period. Operating profit for the full year totalled SEK 528 million, the highest in the Company’s history. Over the past nine years, Systemair has reported organic growth in every quarter save one.”

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, group.systemair.com/  

Note: The information here is that which Systemair AB is obliged to make public under the EU's market abuse regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 (CET) on June 11, 2019.

 

Systemair in brief
Systemair is a leading ventilation company with operations in 50 countries in Europe, North America, South America, the Middle East, Asia and Africa. The company had sales of SEK 8.3 billion in the 2018/19 financial year and employs approximately 6,000 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 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 Nasdaq OMX Nordic Exchange in Stockholm since October 2007. The Group comprises about 70 companies.

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