Systemair (SYSR) Q4 24/25 earnings summary

Executive summary

• Achieved annual turnover of EUR 1.1 billion, operating in 51 countries with 26 factories and 6,700 employees.

• Organic growth in all European regions, with Q4 organic growth at 0.5% year-over-year and annual organic growth of 2.0%.

• Opened a new 19,000 m² manufacturing facility in Hyderabad, India, quadrupling space and doubling capacity.

• Science Based Targets Initiative approved emission targets, marking a sustainability milestone and aiming for net-zero by 2050/51.

• Launched new energy-efficient products, including Topvex and Geniox with integrated heat pump and Menerga Compass units using CO₂ refrigerant.

Financial highlights

• Q4 net sales were SEK 3,002 million, down 2.2% year-over-year, with organic growth of 0.5%.

• Gross margin improved to 36.5% from 35.1% year-over-year.

• Adjusted operating profit for Q4 reached SEK 259.7 million (8.7% margin), up from 6.8%.

• Profit after tax for Q4 was SEK 105 million, with EPS of SEK 0.50.

• Free cash flow increased to SEK 240.3 million from SEK 76 million year-over-year.

Outlook and guidance

• Optimism for volume recovery in North America as market uncertainty eases and seasonality normalizes.

• Strong M&A pipeline with several projects nearing decision.

• Indian operations expected to ramp up after factory relocation, with a strong backlog.

• Board proposes a dividend of SEK 1.35 per share, up from 1.20, representing 41.3% of net profit.

• Sustainability targets exceeded for emissions and work-related injuries; on track for two out of three prioritized targets.