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Press Release, December 9, 2021
Second quarter August–October 2021
Net sales increased by 8.9 percent to SEK 2,404 million (2,207).
Organic growth was +9.1 percent (-3.8).
Operating profit (EBIT) totalled SEK 238 million (214).
The operating margin was 9.9 percent (9.7).
Profit after tax amounted to SEK 154 million (141).
Earnings per share totalled SEK 0.74 (0.68).
Cash flow from operating activities amounted to SEK 240 million (285).
Roland Kasper, President and CEO, comments:
“We are pleased to report continued good organic growth of 9.1 percent, given the current constraints affecting component supply. Our gross margin deteriorated slightly in the quarter to 35.6 percent (35.9) due to component shortages that affected our ability to supply products. Operating profit totalled SEK 238 million (214). The operating margin improved to 9.9 percent (9.7) and adjusted operating profit amounted to 10.4 percent.”
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13
Anders Ulff, CFO, + 46 70 577 40 09
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.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 December 9, 2021.
Systemair in brief
Systemair is a leading ventilation company with operations in 54 countries in Europe, North America, South America, the Middle East, Asia, Australia and Africa. The Company had sales of SEK 8.5 billion in the 2020/21 financial year and employs approximately 6,500 people. Systemair has reported an operating profit every year since 1974, when the company was founded. Over the past 10 years, the Company's growth rate has averaged about 10 percent. Systemair helps to improve the indoor climate with the help of energy-efficient and sustainable products that reduce carbon dioxide emissions.
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 90 companies.