Systemair increased operating profit by 16 percent
Systemair increased operating profit by 16 percent Continoued good growth and increased operating margin for the ventilation company Systemair. During the period May - July 2008, for the split fiscal year 2008/2009, net sales increased by 13 percent to 787 MSEK (694) and the operating profit (EBIT) increased by 16 percent to 103 MSEK (89). - The first quarter shows continoued good growth on most markets and improved operating margin, says Gerald Engström, CEO Systemair Group. - We are also pleased that we have started the year with the acquisitions of Emerson Ventilation Products in the US and Megcool in Malaysia. The acquisitions are a base for continoued expansion in Asia and a broadening of the product range in North America. The complete interim report is available from August 27, at 13.00 on www.systemair.com. For further information please contact: Lars Hansson, Chairman of the Board, mobile +46 070-895 90 02 Gerald Engström, CEO, +46-(0)222-440 01, mobile +46 (0)70-519 00 01 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. 1,900 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 2007.