Systemair Annual Report 2022/23

Date: 15 August 2023
Systemair Annual Report 2022/23
Systemair Annual Report 2022/23
Systemair AB announced that the company's Annual Report for 2022/23 is published.

Systemair is a leading ventilation company operating in 51 countries in Europe, North America, the Middle East, Asia, Australia and Africa. The company had a turnover of SEK 12.1 billion in the 2022/23 financial year and employs approximately 6,600 employees today. Systemair has reported an operating profit yearly 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 with the help of energyefficient and sustainable products that reduce carbon dioxide emissions. Systemair has a well-established business in growth markets. 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.

 Roland Kasper, President and CEO, said:

"Over the past year, we also updated our business strategy. As part of this strategy, we decided to divest our air conditioning factories and associated sales organisations in France and Italy. But we will still offer our customers the same range of products, including heat pumps, even though we no longer manufacture all products ourselves. Overall, these are strategic choices that have allowed us to focus more closely on our core business
– ventilation.

Despite challenges in the form of some continued component shortages and high inflation, in the long term we anticipate a strong market going forward. Stricter requirements and legislation for faster energy transition in many global markets will boost demand for our products, even if in the short term the trend is increasingly moving from new buildings to renovations. The aftermath of the pandemic has also helped drive demand for a healthier indoor climate, and rising electricity prices have pushed the need for energy-efficient and smart ventilation solutions higher up the agenda. During the year, we recorded further strong growth with an increase in sales of 25.2 percent to SEK 12,058 million, and an operating profit that rose from SEK 770 million to SEK 1,401 million.

Although disruptions in the supply chain continue, we are confident that demand in the market is strong and that we can provide our customers with high-quality, energy-efficient products.

We are well-positioned and optimistic for the future and look forward to continuing our mission to improve indoor air quality and contribute to a more sustainable future."

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