Systemair – profit after tax increased 29%

Continued growth and increased profitability for the ventilation company Systemair. During the second quarter (Aug-Oct) for the split fiscal year 2008/2009, net sales increased by 14 percent to 947 MSEK (833). Profit after tax increased 29 percent, to SEK 100 million (78). For the fiscal year’s first 6 months net sales increased by 14 percent to 1,734 MSEK (1,527) and profit after tax by 26 percent to 170 Mkr (135).

- In the second quarter, the Group continued to grow with improved 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 in 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 this period. We have 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, consistent marketing and increasing our geographic presence through acquisitions and new operations, says Gerald Engström, CEO Systemair.

The interim report as a whole and a summarized presentation including interview with CEO Gerald Engström is available on the website www.systemair.com from December 9 at 08.30.