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Systemair AB Interim Report Q2 2020/21

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Press Release, December 10, 2020

Second quarter, August – October 2020

  • Net sales decreased 11.1 percent, to SEK 2,207 million (2,483).
  • Organic growth was -3.8 percent (+6.0).
  • Operating profit (EBIT) amounted to SEK 214 million (284), including a goodwill impairment charge of SEK -11 million.
  • The operating margin was 9.7 percent (11.4).
  • Profit after tax amounted to SEK 141 million (194).
  • Earnings per share totalled SEK 2.70 (3.72).
  • Cash flow from operating activities amounted to SEK 285 million (297).

Roland Kasper, President and CEO, comments:
“Our second quarter is normally Systemair’s strongest, and we are pleased with the result considering that the figures for comparison were strong. The gross margin improved in the quarter to 35.9 percent (35.8) and operating profit totalled SEK 214 million (284) or 9.7 percent. During the quarter, a goodwill impairment charge of SEK 11 million was also recognised. Adjusted for the impairment charge, the operating margin was 10.2 percent.”

For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13, +46 222 440 13
Anders Ulff, CFO, + 46 70 577 40 09, +46 222 440 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 10, 2020.

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.

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