Systemair AB Interim Report Q3 2024
PRESS RELEASE, 5 MARCH 2024
Third quarter, November 2023 – January 2024
- Net sales decreased 7.1 percent, to SEK 2,827 million (3,043).
- Organic growth was +0.1 percent (+22.2).
- Adjusted operating profit totalled SEK 198 million (277). The Group’s adjusted operating margin was 7.0 percent (9.1).
- Operating profit (EBIT) totalled SEK 73 million (277). The operating margin was 2.6 percent (9.1). The operating profit takes account of restructuring costs totalling SEK 125 million for relocating Menerga's production to Slovenia.
- A loss of SEK -24 million after tax was recorded (profit of SEK 170 million).
- Cash flow from operating activities amounted to SEK +403 million (+279).
- Earnings per share (basic) were SEK -0.12 (0.79).
Roland Kasper, President and CEO, comments:
“Systemair's third quarter, which covers November to January, is normally our weakest quarter, except for the previous year which was unusually strong. We see achieving an organic growth of 0.1 percent as a statement of strength. The adjusted operating profit for the period amounted to SEK 198 M (277). We are very satisfied that during the period we signed a series of strategic and large contracts/agreements in different parts of the world and shows the growth potential that lies ahead.”
Press and analyst meeting will be organised at 09:00 CET on March 5, 2024. The report will be presented by Roland Kasper, CEO, and Anders Ulff, CFO.
To participate in the webcast:
If you would like to participate in the webcast, please register via the link below.
After registration, you will receive a link to confirm your email.
There will be an opportunity to ask questions at any time during the presentation by
submitting a written question via webcast.
https://www.investis-live.com/systemair/65b251d47f77220c00db94d1/jsre
If you wish to participate by phone, see details below:
Sweden: +46 (0)8 5051 0031
International: +44 (0) 207 107 06 13
Code: 43046723
Above information is published at group.systemair.com
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13
Anders Ulff, CFO, + 46 70 577 40 09
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 07:00 (CET) on March 5, 2024.
Systemair in brief
Systemair is a leading ventilation company with operations in 51 countries in Europe, North America, the Middle East, Asia, Australia and Africa. The Company had sales of SEK 12.1 billion in the 2022/23 financial year and today 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, growth has averaged 10.5 percent. Systemair helps to improve the indoor climate via 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 Nasdaq OMX Nordic Exchange in Stockholm since October 2007, and are today traded on the Large Cap List. The Group comprises about 90 companies.
