Systemair (SYSR) Q1 26/27 earnings summary

Executive summary

• Achieved 6% organic growth in Q1, with all regions contributing and double-digit growth in North America and Eastern Europe.

• Adjusted operating margin rose to 9.9%, nearing the 10% target.

• Net sales reached SEK 3,281 million, up 6% year-over-year, despite a -1% foreign exchange effect.

• Acquisition of Temspec in Canada completed, expanding North American presence and product portfolio.

• Major product launch: Geniox air handling unit with integrated heat pump using natural refrigerant.

Financial highlights

• Net sales increased to SEK 3,281 million from SEK 3,111 million year-over-year, a 6% rise.

• Adjusted operating profit was SEK 324 million, with a 9.9% margin, up from 9.3% prior year.

• Profit after tax reached SEK 229 million, up from SEK 193 million year-over-year.

• Gross margin improved to 36.5% (prior year: 36.4%) despite cost inflation.

• Free cash flow was SEK 69 million, down from SEK 108 million last year.

Outlook and guidance

• Management remains confident in achieving the 10% operating margin target, citing strong performance and resilience.

• Continued focus on organic growth, integration of acquisitions, and operational efficiency.

• Long-term market drivers remain strong, especially energy efficiency and sustainability.

• No specific forecasts provided for individual months or regions.