The first quarter of 2024 developed as expected. Byggmax’s focus on strengthening the customer offering, efficient operations, and optimizing inventory levels gave effect. In addition to lower costs, net debt is significantly reduced versus the corresponding quarter last year. With more stores, lower costs, and an optimized inventory, Byggmax is ready for a new season
During 2023, we have reduced our costs by 10 percent, reduced inventories and adjusted investment activity. Byggmax is a more efficient business than at the beginning of the year.
The market remains weak, with cautious consumers and postponed renovations. The fact that we are still delivering stable profitability shows the importance of cost control.
By proactive adaption of the business and a strong cost control, Byggmax delivered profitability in a continued weak market