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Systemair: Positive revisions post Q1 - Redeye

Redeye has made some positive revisions to our forecasts and valuation following an upbeat Q1 report. Demand is improving across all regions and Systemair posted another quarter with strong growth (13% organic) and improving margins. The company’s EBIT margin target of 10% now certainly seems to be within reach. The share price has been on a roller-coaster-ride lately and is now trading around our new Base case fair value of SEK 355.

Redeye has made some positive revisions to our forecasts and valuation following an upbeat Q1 report. Demand is improving across all regions and Systemair posted another quarter with strong growth (13% organic) and improving margins. The company’s EBIT margin target of 10% now certainly seems to be within reach. The share price has been on a roller-coaster-ride lately and is now trading around our new Base case fair value of SEK 355.
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