Interim report Q2, 1 May 2008–31 October 2008

Second quarter August–October 2008
- Net sales rose 14 percent, to SEK 947 million (833).
- Operating profit (EBIT) rose 15 percent, to SEK 146 million (126). The operating margin
was 15.4 percent (15.1).
- Profit after tax advanced 29 percent, to SEK 100 million (78).
- Earnings per share (basic and diluted) equalled SEK 1.91 (1.47).

Six months May–October 2008
- Net sales rose 14 percent, to SEK 1,734 million (1,527).
- Operating profit (EBIT) rose 16 percent, to SEK 249 million (215). The operating margin
was 14.4 percent (14.1).
- Profit after tax advanced 26 percent, to SEK 170 million (135).
- Earnings per share (basic and diluted) equalled SEK 3.24 (2.57).
- Cash flows from operating activities totalled SEK 189.2 million (64.2).
- Return on capital employed was 27.9 percent (26.0).
Significant events during the period
- The operations in Emerson Ventilation Products of the United States was acquired in May.
- Megcool Industries of Malaysia was acquired in May.
- Construction work began on a new production plant in Lithuania.

Comments by Gerald Engström, CEO:
“In the second quarter, the Group continued to grow with increased profitability. The integration of the recent acquisition in the United States is progressing as planned and is providing a foundation for expansion in the commercial premises segment of the North American market. This report is being published in the midst of widespread financial uncertainty. We are following developments closely and have noted slower growth in Eastern Europe and the CIS as well as in the Nordic region. Expenditure has been successively adjusted throughout the period under review. In this period, we reached all financial targets set. Systemair has reported sales growth every year since the company was founded in 1974. Our aim is to continue growing even when demand slumps, by developing new products, marketing consistently and increasing our geographic presence through acquisitions and new operations.”