Inwido to be listed

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Inwido AB (publ) (“Inwido” or the “Company”) and Ratos have decided to go ahead with the planned IPO and diversification of Inwido’s ownership base through the sale of existing shares (the “Offering”). Ratos is the selling shareholder in the Offering and intends to divest in total up to 74.7 per cent of the total number of shares in Inwido in connection with the listing, of which 55.0 per cent are included in the base offering, 10.0 per cent in a potential up-sizing of the Offering, and a further 9.7 per cent if an over-allotment option is fully exercised. The price range for Inwidos shares in the Offering is SEK 63-74 per share. The board of Directors of Inwido has applied for listing of the Company’s shares on NASDAQ OMX Stockholm and the first day of trading is expected to be the 26 September, 2014.

Håkan Jeppsson, President and CEO of Inwido:

“A listing fits well in to the phase where we currently find ourselves. We are a profitable, market leader looking forward to develop further, now in a listed environment.

“We believe we are well prepared for an upturn in the markets. We are currently the largest window player in Europe, with several well-recognized, local brands in our portfolio. We are also beginning to see the first results from the significant improvement initiatives to streamline production, develop product platforms and improve processes.”

Arne Frank, Chairman of the Board of Directors of Inwido:

“It is time for Inwido to perform in a listed environment. CEO Håkan Jeppsson and his team have both the capabilities and experience from public markets to complete the next stage in the business plan. The plan is focused on continuous improvements of the operations and continued growth on the strong home markets in the Nordics and selected European markets.”

Susanna Campbell, CEO of Ratos:

“Throughout our ten years as owners, Inwido has gone from being the leading window and door manufacturer in Sweden, to become leading in Europe. Many significant improvement initiatives have been completed to strengthen profitability and efficiency in recent years. Now that Inwido enters into its next phase, where the effects of the initiatives will be fully leveraged, it is our, and the Company’s, belief that it is a suitable time to list the Company and thereby increase the visibility of Inwido and its brands in their continued journey.”

Inwido is Europe’s largest supplier of innovative, environmentally adapted, wood-based windows and doors. The company has operations in Sweden, Denmark, Finland, Norway, Poland, the UK, Austria and Ireland, as well as exports to a large number of other countries. The Group markets some 20 strong local brands including Elitfönster, SnickarPer, Hajom, Hemmafönster, Outline, Tiivi, Pihla, Diplomat and Sokolka.

In the first half of 2014, the Company’s net sales amounted to MSEK 2,208 and operating profit (operating EBITA) adjusted for items affecting comparability amounted to MSEK 155, equivalent to an operating margin of approximately 7.0 per cent. Order bookings increased by 14 per cent. In 2013, Inwido’s net sales amounted MSEK 4,300 and EBITA adjusted for items affecting comparability amounted to MSEK 345, equivalent to an operating margin of approximately 8.0%.

The Offering in brief

• The Offering is directed to the general public in Sweden and institutional investors.
• The Offering comprises 31,882,143 shares in Inwido, corresponding to 55.0 per cent of the total number of shares in the Company.
• Ratos has reserved the right to increase the Offering and sell an additional maximum of 5,796,525 shares, corresponding to 10.0 per cent of the total number of shares in the Company. Further, Ratos has issued an over-allotment option of up to 5,651,796 additional shares, corresponding to up to 15.0 per cent of the total number of shares in the Offering (approximately 9.7 per cent of the total shares in the Company)
• If Ratos decides to increase the Offering in full and if the over-allotment option is fully exercised, the Offering comprises a total of 43,330,464 shares, corresponding to 74.7 per cent of the total number of shares in the Company.
• The final price in the Offering is expected to be determined within the range of SEK 63-74 per share (the “Offering price”), corresponding to a market value of all shares issued by Inwido of approximately SEK 3.7-4.3 billion. The Offering price is expected to be announced on 26 September, 2014.
• A prospectus with full terms and conditions is published today 15 September, 2014, on the Company’s website www.inwido.com.

Read the full press release in the pdf attached

For more information, please contact:
Inwido AB
Håkan Jeppsson, President and CEO Tel.: 46 (0)10-451 45 51 or 46 (0)70-550 15 17
Jonna Opitz, SVP Marketing, Sales & Communication Tel.: 46 (0)10-451 45 58 or 46 (0)722 11 90 10
E-mail: jonna.opitz@inwido.com

About Inwido
Inwido is Europe’s largest supplier of innovative, environmentally adapted, wood-based window and door solutions. The company has operations in Sweden, Denmark, Finland, Norway, Poland, the UK, Austria and Ireland, as well as exports to a large number of other countries. The Group markets some 20 strong local brands including Elitfönster, SnickarPer, Hajom, Hemmafönster, Outline, Tiivi, Pihla, Diplomat and Sokolka. Inwido has approximately 3,100 employees and generated sales of slightly more than SEK 4.3 billion in 2013. The Group's headquarters are located in Malmö, Sweden. For further information, please visit www.inwido.com