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Systemair AB Interim Report Q4 2021/22

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Press Release, June 8, 2022

Fourth quarter February – April 2022

  • Net sales increased by 20.5 percent to SEK 2,662 million (2,208).
  • Organic growth was +16.4 percent (+17.1).
  • The adjusted operating profit was SEK 230 million (209). Operating profit (EBIT) totalled SEK 191 million (173), taking into account goodwill impairment charges of SEK -39 million (-36).
  • The adjusted operating margin was 8.6 percent (9.4).
  • Profit after tax amounted to SEK 139 million (116).
  • Earnings per share totalled SEK 0.66 (0.55).
  • Cash flow from operating activities amounted to SEK -32 million (+229).

12 months, May 2021–April 2022

  • Net sales increased by 13.1 percent to SEK 9,634 million (8,519).
  • Organic growth was +12.7 percent (+2.1).
  • The adjusted operating profit was SEK 821 million (723). Operating profit (EBIT) amounted to SEK 770 million (677), taking into account goodwill impairment charges and a revaluation on acquisition of SEK -51 million (-46).
  • The adjusted operating margin was 8.5 percent (8.5).
  • Profit after tax amounted to SEK 544 million (411).
  • Earnings per share totalled SEK 2.61 (1.95).
  • Cash flow from operating activities amounted to SEK 235 million (994).
  • The Board of Directors proposes a dividend of SEK 0.90 (0.75) per share

Roland Kasper, President and CEO, comments:

“We are pleased to note that the financial year ended with further good organic growth of 16.4 percent. Component shortages and high sickness absence due to Covid-19 at the beginning of the quarter had a negative impact. The adjusted operating profit increased to SEK 230 million (209). The adjusted operating margin also improved, to 8.6 percent (9.4).”

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 June 8, 2022.

Systemair in brief
Systemair is a leading ventilation company with operations in 52 countries in Europe, North America, the Middle East, Asia, Australia and Africa. The Company had sales of SEK 9.6 billion in the 2021/22 financial year and today employs approximately 6,700 people. Systemair has reported an operating profit every year since 1974, when the company was founded. Over the past 10 years, the Company’s average growth has averaged 9.4 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 Nasdaq OMX Nordic Exchange in Stockholm since October 2007, and are today traded on the Large Cap List. The Group comprises about 90 companies.

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