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Systemair (SYSR) investor relations material

Systemair Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary4 Dec, 2025

Executive summary

  • Achieved record sales and operating profit for Q2 2025/26, with 8.2% organic growth and positive trends across all markets, including notable recovery in Central Europe.

  • Completed major strategic investments, including new manufacturing facilities in Saudi Arabia and the acquisition of Nadi in India, expanding presence and capacity.

  • Recognized for product innovation, with Menerga's CO2mpass air handling unit winning the Heat Pump Innovation of the Year Award.

  • Announced CEO transition: Robert Larsson to succeed Roland Kasper as CEO from January 2026.

Financial highlights

  • Net sales reached SEK 3,271 million in Q2 2025/26, a 4.0% increase year-over-year; organic growth was 8.2% despite negative currency effects of -5.6%.

  • Operating profit was SEK 390 million, with an operating margin of 11.9% (up from 11.0% last year).

  • Gross margin improved to 37.7% from 37.3% year-over-year, driven by restructuring, cost reductions, and organic growth.

  • Profit after tax was SEK 265 million, up from SEK 236 million last year; tax rate at 24.8%.

  • Free cash flow for the quarter was SEK 187.6 million.

Outlook and guidance

  • Market signals are mixed, with normalization and recovery in some regions but ongoing uncertainty in others; continued positive growth expected.

  • No further price increases planned in North America; future impact of tariffs remains uncertain.

  • Capacity investments are expected to slow after current projects, with utilization in Europe at 70%-80%, positioning for future growth.

  • Expansion in Saudi Arabia and new product launches position the company for further growth.

  • Confident in sustained demand for energy-efficient ventilation solutions.

Nadi acquisition: quantify expected EBIT margin uplift
Saudi Arabia capacity: expected 'Saudi Made' impact
Working capital impact on Q2 operating cash flow
Gross margin sustainability post-restructuring?
North America tariff impact on growth and outlook.
Capacity utilization and future operating leverage.
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Frequently asked questions

Systemair is ventilation company that designs, develops, manufactures, and markets ventilation products and systems in Europe, the United States, the Middle East, Asia, Australia, Africa, and internationally. It offers complex solutions for various industrial applications for environmental balance; and ventilation systems for machinery used in agriculture. The company also provides comfort ventilation products for houses comprising heating and cooling products; air curtains; air handling units; air terminal devices; VRV/VRF heat pumps; home fans; engine rooms; energy recovery ventilators.

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