About Byggmax Group Byggmax offers straightforward and excellent value construction materials and do-it-yourself products of high quality at the best price. No matter your budget or previous experiences, we provide our customers with the know-how and the confidence to fulfil their construction dreams. Everyone has a right to a fantastic home! With over 190 physical locations in Sweden, Norway and Finland and a popular online store, Byggmax is one of the foremost retail chains for construction and do-it-yourself products in the Nordics. The group’s annual revenue 2021 was SEK 7.6 billion and the corporate group is listed on Nasdaq.
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.
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.
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.
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
