Brief: Systemair Warns Of Lower Earnings For Q4 2017/18

Systemair AB

30/05/2018 12:03

May 30 (Reuters) - Systemair AB  SYSR.ST :
    * SYSTEMAIR AB PREDICTS LOWER THAN EXPECTED EARNINGS IN THE
FOURTH
QUARTER 2017/18
    * PREDICTS Q4 2017/18 EARNINGS TO BE LOWER THAN MARKET
EXPECTATIONS, AND ESTIMATES THAT OPERATING PROFIT DECLINES TO
SEK 5 MILLION
    * ADJUSTED FOR ITEMS AFFECTING COMPARABILITY STATED BELOW,
OPERATING PROFIT IS ESTIMATED AT SEK 49 MILLION
    * NET SALES ARE ESTIMATED TO INCREASE BY 5.4 PERCENT TO SEK
1,827
MILLION (1,733).
    * SYSTEMAIR AB - OPERATING PROFIT FOR Q4 HAVE BEEN IMPACTED
BY
SEVERAL NON-RECURRING ITEMS
    * SYSTEMAIR AB - DURING Q4, IT HAS NOW BEEN RECOGNISED THAT
MATERIAL AND LABOUR COSTS NEEDED TO COMPLETE A PROJECT HAVE BEEN
UNDERESTIMATED
    * DURING Q4 SYSTEMAIR HAVE ALSO RECOGNISED A PROVISION FOR
ANTICIPATED BAD DEBTS OF SEK 12.2 MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nGNE9NGzcv
Further company coverage:  SYSR.ST 

 (Reporting By Stockholm newsroom)
 ((Stockholm.newsroom@thomsonreuters.com;))