Swedish ventilation maker Systemair reported third-quarter adjusted operating profit 18% below analyst estimates, as a strengthening krona eroded revenue by 8.7 percentage points despite modest underlying demand growth. Adjusted EBIT fell 6.5% to 199 million Swedish crowns for the November-January quarter, missing the 243 million crown consensus by 44 million crowns, while reported net sales dropped 5.9% to 2.86 billion crowns on organic growth of just 1%.

A 24.9 million crown gain from a Norwegian property sale inflated the reported operating profit to 224.2 million crowns, masking the underlying shortfall. Adjusted operating margin held flat at 7%, below the company's through-cycle target of 10%. Chief executive Robert Larsson acknowledged "uncertainty around several geopolitical factors" while noting positive signals in many markets. Regional performance diverged sharply, with Eastern Europe and CIS leading with 27.4% organic growth while Western Europe advanced 5.8% organically.

North America dropped 8.7% organically as US school ventilation entered seasonal low season, with Systemair disclosing it had already shifted some Canadian manufacturing to the United States to mitigate tariff exposure. The Middle East, Asia, Australia and Africa segment declined 6.5% organically, with Turkey remaining a persistent drag. Gross margin improved to 36.3% from 35.3% a year earlier on better capacity utilization and product mix. Cash flow from operating activities more than doubled to 418.7 million crowns, driven by a 177.5 million crown working capital release.