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Byggmax continued to improve profitability during the third quarter. With strong focus on efficient operations in combination with continuous development of the customer offering, we have both increased profits and strengthened the balance sheet. We have demonstrated our ability to improve earnings in a cautious market, which strengthens us in our work towards our long-term goals.
Karl Sandlund, President and CEO
Byggmax deliver improved profitability and strengthened balance sheet during the important second quarter despite a continued cautious market. This year’s focus on ensuring efficient operations and reducing net debt have a significant impact. At the same time, work to further improve the customer offering continues.
Karl Sandlund, President and CEO
We have a clear roadmap to deliver on our targets. Based on our strong discount position, we will continue simplifying our operations, leveraging our commercial investments, and elevating our market presence to drive sustainable growth and deliver significant value.
Karl Sandlund, CEO Byggmax
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
Karl Sandlund, President and CEO
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.
Karl Sandlund, President and CEO
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.
Karl Sandlund, President and CEO
By proactive adaption of the business and a strong cost control, Byggmax delivered profitability in a continued weak market
Karl Sandlund, CEO Byggmax Group
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