Systemair AB Reports Strong Q2 2026 Performance, Highlights Operational Improvements and Organic Growth
Systemair AB, the Swedish ventilation‑equipment manufacturer listed on the Stockholm Stock Exchange, delivered a robust second‑quarter earnings report for its fiscal year 2025/2026. The company’s operating profit surpassed market expectations by 15 %, posting SEK 390 million versus the consensus estimate of SEK 340 million. Net sales grew 4 % year‑on‑year to SEK 3 271 million, eclipsing the forecast of SEK 3 155 million and underscoring the firm’s capacity to convert incremental revenue into profit.
Key Drivers of the Upside
Enhanced Gross‑Margin Through Plant Savings The management cited significant cost reductions at manufacturing sites as a primary contributor to the margin expansion. Roland Kasper, Chief Executive Officer, highlighted that ongoing efficiency initiatives in the production facilities have begun to yield tangible savings, which translate directly into higher profitability.
Organic Sales Growth Across All Regions The company achieved an 8.2 % organic sales increase—well above the 2.6 % forecast—reflecting sustained demand across Europe and other key markets. In particular, Western Europe recorded an 11.1 % rise, driven by positive signals in the German market and strong performance in Italy and the Netherlands. Eastern Europe posted a solid 5.0 % organic growth, while the Middle East, Australia, and Africa exhibited positive trends; North American performance remained mixed.
Strategic Restructuring and Geographic Shift The ongoing re‑organisation of the Menerga division and the relocation of certain operations to Slovenia are expected to further consolidate cost structures. These moves are gradually contributing to the firm’s financial improvement, as noted by CFO Anders Ulff.
Financial Highlights
| Metric | Q2 2026 | YoY | Consensus |
|---|---|---|---|
| Net sales | SEK 3 271 m | +4 % | SEK 3 155 m |
| Operating profit | SEK 390 m | +12 % | SEK 340 m |
| Organic sales growth | 8.2 % | – | 2.6 % |
| Currency impact | –5.6 % | – | – |
The earnings‑per‑share figure of SEK 1.22, as projected by analysts, aligns closely with the company’s own guidance of SEK 1.20‑1.25 for the full year. This consistency reinforces investor confidence in the management’s execution capabilities.
Forward‑Looking Outlook
Systemair’s board remains optimistic about the trajectory of its operations. The firm expects further margin improvement as plant efficiencies mature and the transition to Slovenia matures. Additionally, the building‑products sector in Europe is entering a stabilisation phase with modest demand growth, particularly in Germany—a market where Systemair maintains a strong footprint.
Given the firm’s market capitalization of approximately SEK 15.7 billion and a price‑to‑earnings ratio of 23.9, the current share price of SEK 76.8 positions the stock favorably against its 52‑week high of SEK 98.9. The combination of operational discipline, organic expansion, and strategic restructuring suggests that Systemair is well placed to sustain its growth momentum throughout the remainder of the fiscal year and beyond.
Prepared with insider insights into Systemair’s strategic initiatives and financial performance.
