- In the second quarter, the Group continued to grow with improved profitability. The integration of the recent acquisition in the United States is progressing as planned and is providing a foundation for expansion in the commercial premises segment in the North American market. This report is being published in the midst of widespread financial uncertainty. We are following developments closely and have noted slower growth in Eastern Europe and the CIS as well as in the Nordic region. Expenditure has been successively adjusted throughout this period. We have reached all financial targets set. Systemair has reported sales growth every year since the company was founded in 1974. Our aim is to continue growing even when demand slumps, by developing new products, consistent marketing and increasing our geographic presence through acquisitions and new operations, says Gerald Engström, CEO Systemair.
Systemair in brief
Systemair is a leading ventilation company with operations in 38 countries in Europe, North America, the Middle East, Asia, Africa and Australia. In the 2007/08 financial year, the Company had sales of approximately SEK 3.1 billion and currently employs about 1,960 people. Since it was founded in 1974, the Company has increased sales every year and at the same time reported an operating profit. During the past three years, the Company’s growth rate has averaged roughly 18 percent. The Group comprises about 50 companies.
Systemair has well-established operations in growth markets. The Group’s products are marketed under the Systemair, Frico, VEAB and Fantech brands. Systemair shares have been quoted on the Mid Cap List of the OMX Nordic Exchange in Stockholm since October 2007.