A strong quarter
President & CEO Henrik Hjalmarsson comments on the third quarter and the first nine months of 2020:
“The third quarter was Inwido’s strongest quarter to date, in terms of profit, and we delivered strong profits, good organic growth, strong cash flows and our sixth consecutive quarter with strengthened margins. We enter the fourth quarter with a record high order backlog of SEK 1,308 million, up 18 percent”.
“Backed by a positive consumer market and a high growth rate in e-commerce, net sales increased organically by 4 percent to SEK 1,716 million (1,665). Operating EBITA rose to SEK 247 million (203) and the operating EBITA margin rose to 14.4 percent (12.2). Net debt decreased to a multiple of 1.2 in relation to operating EBITDA (2.5)”.
“Business Area South continued to develop favorably. Sales increased organically by 10 percent, lifting the operating EBITA margin to 24.7 percent (18.7). e-Commerce grew organically by 42 percent, accounting for 13 percent of the Group’s sales in the quarter. In Business Area North, the Swedish business units addressing the consumer market have advanced their positions and shown positive development. The business area showed modest organic sales growth during the quarter, which combined with good cost control, lifted the operating EBITA margin to 8.2 percent (8.0)”.
“Bolstered by a very good third quarter, we enter the winter season with normally lower consumer activity, with a strong order backlog. With a stable consumer market but with industrial demand still hesitant, we will continue persistently to gear up Inwido for expansion. We are investing in our business units, refining our channel and segment positions, driving development in e-commerce and intensifying our efforts to achieve value-generating acquisitions”.
Read the full press release, including KPI table, attached
For more information, please contact:
Henrik Hjalmarsson, President and CEO
Tel: +46 (0)76-846 20 46, email: henrik.hjalmarsson@inwido.com
Olof Engvall, Investor & Public Relations Manager
Tel: +46 (0)73-541 45 73. email: olof.engvall@inwido.com
About Inwido
Inwido owns and develops companies that improve people’s everyday lives indoors with various products and services. Today, Inwido is Europe’s largest windows group and a natural home for the region’s strongest companies in the areas of comfort, indoor climate and safety. In 2019, Inwido achieved sales of SEK 6.6 billion and an operating EBITA margin of 9.7 percent. The Group has some 4,400 employees in total, with operations in Denmark, Estonia, Finland, Ireland, Lithuania, Norway, Poland, Romania, the UK, Sweden and Germany.
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