Systemair AB Interim Report Q2 2022/23

Press Release, December 8, 2022

Second quarter August–October 2022

• Net sales increased by 26.3 percent to SEK 3,037 million (2,404).
• Organic growth was +14.8 percent (+9.1).
• The adjusted operating profit was SEK 297 million (250). Operating profit (EBIT) amounted to SEK 120 million (238), taking into account impairments totalling SEK -168 million relating to the business in Russia and hyperinflation adjustments totalling SEK -9 million.
• The adjusted operating margin was 9.9 percent (10.4).
• Profit after tax amounted to SEK 39.4 million (154).
• Earnings per share totalled SEK 0.21 (0.74).
• Cash flow from operating activities amounted to SEK +203 million (+81).
  
  

Roland Kasper, President and CEO, comments:

“Systemair second quarter shows continued good growth where sales increased by 26.3 percent and adjusted operating profit improved by 19 percent to SEK 297 million (250). During the quarter, an impairment of the Russian operations were done totalling SEK 168 million. In addition, the Turkish business applied hyperinflation adjustments, with a negative impact of SEK 9 million on operating profit. Sales during the quarter exceeded SEK 3 billion for the first time.”

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, group.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 December 8, 2022.