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Systemair AB Interim Report Q4 2020/21

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

Press Release, June 10, 2021

Fourth quarter February – April 2020

  • Net sales increased by 8.7 percent to SEK 2,208 million (2,031).
  • Organic growth was 17.1 percent (-6.8).
  • Adjusted operating profit was SEK 209 million (94). Operating profit (EBIT) amounted to SEK 173 million (56), including a goodwill impairment charge of SEK -36 million (-38).
  • Adjusted operating margin was 9.4 percent (4.6).
  • Profit after tax amounted to SEK 116 million (-2).
  • Earnings per share totalled SEK 2.22 (-0.02).
  • Cash flow from operating activities amounted to SEK 229 million (40).

12 months, May 2020 – April 2021

  • Net sales decreased by 4.4 percent to SEK 8,519 million (8,915), due to the Covid-19 pandemic but also currency effects of -7.1 percent.
  • Organic growth was 2.1 percent (1.2).
  • Adjusted operating profit was SEK 723 million (664). Operating profit (EBIT) amounted to SEK 677 million (626), including a goodwill impairment charge of SEK -46 million (-38).
  • Adjusted operating margin was 8.5 percent (7.4).
  • Profit after tax amounted to SEK 411 million (385).
  • Earnings per share totalled SEK 7.81 (7.34).
  • Cash flow from operating activities amounted to SEK 994 million (844).
  • The Board of Directors proposes a dividend of SEK 3.00 (-) per share.

Roland Kasper, President and CEO, comments:

“The fourth quarter delivered strong organic growth of 17.1 percent and an adjusted profit that more than doubled to SEK 209 m, or an operating margin of 9.4 percent. All geographic regions are back to reporting organic growth. A stronger gross margin due to strong organic growth combined with lower selling and administration expenses are the main factors underlying the improvement in profits.”

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 10, 2021.

Systemair in brief
Systemair is a leading ventilation company with operations in 54 countries in Europe, North America, South America, the Middle East, Asia, Australia and Africa. The Company had sales of SEK 8.5 billion in the 2020/21 financial year and employs approximately 6,400 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 10 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 Mid Cap List of the Nasdaq OMX Nordic Exchange in Stockholm since October 2007. The Group comprises about 90 companies.

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