The year kicks off with stable improvement in earnings
This information is such that Inwido AB (publ) is obliged to publish in accordance with the Swedish Securities Market Act and/or Financial Instruments Trading Act. The information was submitted for publication on Monday 25 April 2016, at 7:46 a.m.
Inwido’s CEO Håkan Jeppsson comments on the first quarter:
“We began 2016 in a stable manner. The improvement in earnings derives mainly from the strength of our consumer business.”
“Seasonally, the first quarter is clearly the weakest of the year for us, and this year Easter also fell in the first quarter. The fact that we delivered an improvement in earnings of nearly 30 percent on the same quarter last year is pleasing.”
“Sales were in line with last year, which was a little disappointing. The explanation lies mainly in the lower order bookings from the industry segment at the end of the fourth quarter last year, and the effect of the early Easter.”
“The agreements we have signed to acquire Outrup in Denmark and Lämpölux in Finland fit into our strategy well. They are two excellent, profitable companies with skilful management that are strong in sales channels and markets that we focus on.”
“Although the year has begun well, the longer-term market outlook is difficult to assess due to external financial and political risks that could affect many consumers and accordingly also Inwido. At the same time, there remains a strong underlying need for both renovations and new housing in Europe.”
Please read the full press release in the pdf attached
For more information, please contact:
Inwido AB
Håkan Jeppsson, President and CEO Phone: 46 (0)10-451 45 51 or 46 (0)70-550 15 17
Peter Welin, CFO Phone: 46(0)70-324 3190 or 46(0)10-451 45 52 E-mail: peter.welin@inwido.com
About Inwido
Inwido is Europe’s largest supplier of windows and doors. The company has operations in Denmark, Finland, Norway, Sweden, Austria, Estionia, Ireland, Lithuania, Poland and the UK, 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 3,400 employees and generated sales of slightly more than SEK 5.2 billion in 2015. The Group's headquarters are located in Malmö, Sweden. For further information, please visit www.inwido.com
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