Systemair AB
F:52SA
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Systemair AB
F:52SA
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SE |
Systemair AB
Systemair AB makes ventilation and air-handling equipment that moves, filters, heats, cools, and controls air in buildings. Its products include fans, air handling units, duct systems, fire and smoke dampers, and related control gear. The company sells to contractors, building owners, distributors, and industrial customers that need reliable indoor climate systems for offices, schools, hospitals, factories, and other buildings. The company earns money by selling this equipment through a broad network of sales companies, distributors, and project channels, often tied to new construction, renovation, and building maintenance. In practice, Systemair sits in the middle of the HVAC supply chain: it designs and manufactures the core air-moving hardware, then works with installers and engineers who specify and fit the systems into buildings. What makes the business easy to understand is that ventilation is a basic need, not a luxury. Buildings must bring in fresh air, remove stale air, and meet safety and energy rules, so customers keep buying replacement parts, upgrades, and new systems over time. That gives Systemair a steady role in a long-lived market where product reliability, technical support, and compatibility with building standards matter a lot.
Systemair AB makes ventilation and air-handling equipment that moves, filters, heats, cools, and controls air in buildings. Its products include fans, air handling units, duct systems, fire and smoke dampers, and related control gear. The company sells to contractors, building owners, distributors, and industrial customers that need reliable indoor climate systems for offices, schools, hospitals, factories, and other buildings.
The company earns money by selling this equipment through a broad network of sales companies, distributors, and project channels, often tied to new construction, renovation, and building maintenance. In practice, Systemair sits in the middle of the HVAC supply chain: it designs and manufactures the core air-moving hardware, then works with installers and engineers who specify and fit the systems into buildings.
What makes the business easy to understand is that ventilation is a basic need, not a luxury. Buildings must bring in fresh air, remove stale air, and meet safety and energy rules, so customers keep buying replacement parts, upgrades, and new systems over time. That gives Systemair a steady role in a long-lived market where product reliability, technical support, and compatibility with building standards matter a lot.
Sales: Total net sales were SEK 2.86 billion, down 5.9% year‑on‑year but organic growth was +1.0%.
Regional mix: Western and Eastern Europe showed positive organic growth (+5.8% and +27.4%), while Nordics, North America and MEA/Asia were weak.
Margins: Gross margin improved to 36.3% (from 35.3%), supporting an adjusted operating profit of SEK 199 million and a 7.0% margin, roughly in line with last year.
Cash & balance sheet: Free cash flow was strong at SEK 328 million, net debt fell to SEK 849 million and adjusted net debt/EBITDA is 0.52.
Operational actions: Completed a large ERP rollout across ~62 entities, are reorganizing commercial teams in key markets (North America, Sweden, Germany) and continue Menerga restructuring.
Price outlook: Management is reviewing price increases to offset raw material pressure; expect low single‑digit increases if implemented.
M&A & India: Acquired NADI (India) which contributed 1.8% to sales this quarter; management says the M&A pipeline is healthy and they remain active.
