Systemair Q4 2022/23: First impression
Research Note
2023-06-08
10:44
Redeye sees no major surprises or deviations in Systemair’s full year report. The fourth quarter showed continued solid organic growth of 13% (around 5% adjusted for price increases). EBIT margins, adjusted for non-recurring items, are inching up to 9%. Order intake was a little softer, but Systemair continues to see good demand and growth opportunities in several markets. We will most likely only make minor adjustments to our forecasts and valuation.
HA
Henrik Alveskog
Disclosures and disclaimers