Systemair AB (publ) SYSR
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Full analysis: 6 Apr 2026
Latest news check: 20 Jul 2026
General analysis — not personal advice.
BUY
7/10
Confidence
Maintain the current position and consider adding gradually (e.g., 2–3 tranches) rather than waiting for much lower levels; use Q1 2026/27 (27 Aug 2026) to confirm the growth/margin trend persists.
Add: Q4/full-year results confirm a clear improvement in organic growth, profitability and cash generation.
- The higher dividend and positive share-price reaction suggest improved market confidence.
- Risk profile is broadly unchanged (cyclicality, FX, margin pressure), but the operating trend is now more constructive into FY 2026/27.
Market sentiment
9/10
↑
Trend: Improving
Sentiment has strengthened materially after the Q4/full-year print, supported by strong organic growth, margin uplift and robust cash flow; remaining concerns are mainly cyclicality/market uncertainty and potential margin pressure going forward.
Risk assessment
4/10
Dilution:
Low
Strong cash flow, no equity raise indicated
Jurisdiction:
Low
Mostly stable markets, diversified global exposure
Execution:
Medium
New CEO, new plants, acquisition integration
Recent changes
- The full-year report showed Q4 organic growth of +9.6%, revenue of ~SEK 3,276m and improved profitability (EBIT margin 7.7%). Full-year delivered organic growth of +6.1%, revenue ~SEK 12.5bn, adj. EBIT ~SEK 1.17bn…
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Show all changes (3) — follow the company freeAbout the company
Systemair AB (publ) is a global supplier of ventilation and indoor climate solutions. The company develops, manufactures, and sells products such as fans, air handling units, and air curtains under brands including Systemair, Frico, Fantech, and Menerga. Profitability is stable, but reported revenue is currently pressured by FX headwinds.
Sector:
Ventilation and indoor climate (HVAC)
Type:
Industrial
Next report
27 Aug 2026
Q1
Catalysts
27 Aug 2026
Q1 2026/27 (Aug 27) – first momentum check after strong Q4
High
Unknown
CEO/leadership update (permanent)
Medium
Unknown
Further M&A activity
Medium
Horizon:
Bull case
Strong free cash flow and declining net debt can support the share.
- Insider buying by the main owner may improve confidence.
- A positive Q4 report (10 Jun 2026) could trigger a rebound.
Bear case
Continued FX headwinds may weigh on reported growth.
- Weak construction/installation cycle in key regions could pressure volumes.
- Downside risk if Q4 results disappoint expectations.
Signal rationale (informational)
Add: Q4/full-year results confirm a clear improvement in organic growth, profitability and cash generation.
- The higher dividend and positive share-price reaction suggest improved market confidence.
- Risk profile is broadly unchanged (cyclicality, FX, margin pressure), but the operating trend is now more constructive into FY 2026/27.
Recent news
- No material press releases or company-specific events have been published after 19 June 2026. The next report is Q1 2026/27 on 27 August.
Price & valuation
Last close
SEK 82.90
1 week
-2.7 %
3 months
+9.8 %
12 months
-14.1 %
From 52w high
-14.1 %
From 52w low
+19.5 %
Exchange
Stockholm
Type
Industrials
Sector
Ventilation and indoor climate (HVAC)
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.