Press release June 8, 2017
Systemair ABs (NASDAQ OMX Stockholm: SYSR) year end-report 2016/17 published there 08:00 CET on 8 June 2017.
Fourth quarter, February 2017 – april 2017
Net sales increased by 14.9 per cent to Sek 1 733 million (1 509).
The organic growth amounted to 6,8% (4,0).
The operating profit (EBIT) amounted to Sek 48 million (62). Operating profit adjusted for the restructuring program amounted to Sek 67 million.
The operating margin amounted to 2.8 per cent (4.1).
Profit after tax amounted to Sek 29 million (28).
Earnings per share amounted to sek 0.55 (0,53).
Cash flow from operating activities amounted to sek -26 M (-40).
Full year, may 2016 – april 2017
Net sales increased by 12.3 per cent to 6 864 M (6 113).
The organic growth amounted to 7.7 per cent (2.6).
The operating profit (EBIT) amounted to sek 439 M (344). Operating profit adjusted for the restructuring program amounted to sek 484 Million.
The operating margin amounted to 6.4 per cent (5.6).
Profit after tax amounted to sek 294 M (207).
Earnings per share amounted to eur 5.66, £ (3,98).
Cash flow from operating activities amounted to sek 464 M (169).
The board of directors proposes a dividend of sek 2.00 (sek 2.00) per share.
Roland Kasper, PRESIDENT & ceo, commented:
“During the fourth quarter, growth amounted to 14.9%, of which 6.8% organic. For the full year, growth amounted to 12.3 percent, of which organic growth 7.7 per cent. Taken into account, the pending position in many markets it is considered as a good development. Operating income for the quarter came in below expectation, which is partly explained by a series of non-recurring items. For the quarter, the adjusted operating profit amounted to sek 67 M, compared with Sek 62 million in the same quarter of the previous year. The restructuring costs for the quarter amounted to Sek 19 million. Adjusted operating income for the full year amounted to sek 484 M, compared with 354 Million the year before.”
A conference call is arranged, there is a 9:00 CET on 8 June 2017. The report will be presented by Roland Kasper, CEO, and Anders Ulff, CFO.
In order to participate in the conference call:
Call +46 (0)8 5052 0110 and enter code 962104 a few minutes before the start.
The presentation will be published on the www.systemair.com
For further information, please contact:
Roland Kasper, CEO, + 46 73 094 40 13, +46 222 440 13
Anders Ulff, CFO, + 46 70 577 40 09, +46 222 44 009
Systemair AB, 739 30 Skinnskatteberg, 0222-440 00, www.systemair.com
Systemair in brief
Systemair is a leading ventilation company with operations in 50 countries in Europe, North and south America, the Middle east, Asia and south Africa. The company had a turnover of sek 6.9 billion fiscal year 2016/17 and currently has about 5 200 employees Since the establishment of Systemair in 1974, the company has shown positive operating results. During the past 15 years, the average growth rate amounted to approximately 10 per cent.
Systemair has well-established operations in emerging markets. The group’s products are marketed under the brand names Systemair, Frico, Fantech and Menerga. Systemair is since October 2007, listed on the OMX Nordic exchange in Stockholm on the list for medium-sized companies. The group comprises about 70 companies.
Interim Report Systemair 2016_17 Q4