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Press Release, March 11, 2021
Third quarter November 2020 – January 2021
Net sales decreased 6.7 percent, to SEK 2,004 million (2,147) mainly due to currency effects of -8.5 percent.
Organic growth was 1.5 percent (1.8).
Operating profit (EBIT) totalled SEK 108 million (113).
The operating margin was 5.4 percent (5.2).
Profit after tax amounted to SEK 71 million (64).
Earnings per share totalled SEK 1.32 (1.20).
Cash flow from operating activities amounted to SEK 245 million (313).
Roland Kasper, President and CEO, comments:
“In the third quarter, we returned to organic growth, measured at 1.5 percent, following three consecutive quarters of negative growth. Prior to the pandemic, Systemair showed organic growth for 40 consecutive quarters with one exception. However, demand remains cautious in several markets in Europe in the face of regional restrictions, whereas the North American market continues to perform strongly. Our operating margin improved relative to the preceding year to 5.4 percent, as a result of the costs being adjusted to prevailing circumstances.”
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, https://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 March 11, 2021.
Systemair in brief
Systemair is a leading ventilation company with operations in 50 countries in Europe, North America, South America, the Middle East, Asia, Australia and Africa. The Company had sales of SEK 8.9 billion in the 2019/20 financial year and employs approximately 6,200 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 11 percent. Systemair contributes to enhance the indoor environment with 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 80 companies.