Systemair AB Interim Report Q2 2023/24

Date: 15 December 2023
Systemair AB Interim Report Q2 2023/24
Roland Kasper, President and CEO, comments: "Systemair's second quarter shows evidence of continued growth with sales increasing by 4.9 percent. Adjusted for divestment of the air conditioning business and acquisitions last year, growth totalled 5.1 percent in the quarter. Operating profit for the period improved by 12 percent to SEK 322 million (288)."

Second quarter August–October 2023
  • Net sales increased by 4.9 percent to SEK 3,186 million (3,037) despite the former divestment of the air conditioning business, which reported sales of SEK 166.5 million in the corresponding period last year.
  • Organic growth was +5.1 percent (+14.8).
  • Operating profit (EBIT) totalled SEK 322 million (120).
  • The operating margin was 10.1 percent (3.9). The operating profit for the preceding year included, among other items, an impairment charge totalling SEK -168 million in the Russian business. Adjusted for the impairment charge, the operating margin last year was 9.5 percent.
  • Profit after tax amounted to SEK 246 million (39).
  • Earnings per share (basic) were SEK 1.18 (0.21).
  • Cash flow from operating activities amounted to SEK +433 million (203).
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