Good growth and a record high order backlog
The positive start to 2022 continues during the second quarter. Inwido increased net sales by 23% to SEK 2,475 million (2,009) with an operating EBITA of SEK 297 million (267), which is the highest profit for a second quarter to date. The order backlog of SEK 2,687 million is also at a record level. The operating EBITA margin decreased slightly to 12.0 percent (13.3).
“Our organic growth remains at a good level, while we acquired Westcoast Windows in Sweden and Hyvinkään Puuseppien in Finland during the quarter, which means that we are taking further steps to meet our long-term growth target. During the quarter, we note our highest profit in a second quarter to date and reach SEK 1 billion in EBITA for the first time based on rolling twelve months,” comments Henrik Hjalmarsson, President and CEO.
Operations in the Scandinavia and Eastern Europe Business Areas were characterized by continued good growth and stable profitability. In Western Europe, the acquisition of Dekko Window Systems during Q1 gives a clear result through significantly increased sales and profit. Here, operations in Ireland have also increased both sales and profits. The e-Commerce Business Area, on the other hand, continues to face challenges. The imple-mentation of the new machine investments has, during the first two months of the quarter, had a negative ef-fect on production efficiency. This, combined with increased investments for long-term growth, an unfavorable product mix, and the fact that the comparative figures from 2021 are at a historically very high level, has wors-ened the profit margin.
“We are entering the third quarter with a record high order backlog at the same time as order intake showed a slowdown at the end of the quarter. Uncertainty factors in the rest of the world, with rising energy prices, infla-tion, and higher interest rates, mean in the short term that consumers' disposable income is shrinking. In the long term, we remain optimistic about consumers' great interest in the indoor environment combined with increasing demands for energy efficiency improvements, not least in times of rising energy prices,” Henrik Hjalmarsson concludes in the quarterly report's CEO words.
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For more information, please contact:
Henrik Hjalmarsson, President and CEO Tel.: 46 (0)76 846 20 46, henrik.hjalmarsson@inwido.com
Peter Welin, CFO and deputy CEO Tel.: 46 (0)703 24 31 90, peter.welin@inwido.com
About Inwido:
Inwido improves people's lives indoors with windows and doors. As Europe's leading window group, Inwido's business concept is to develop and sell the market's best customized window and door solutions through a decentralized structure and with a focus on the consumer-driven market in order to create long-term sustainable growth, organically and through acquisitions. Inwido consists of 32 business units with approximately 4,900 employees in eleven countries. In 2021 group sales amounted to SEK 7.7 billion with an operating EBITA margin of 11.7 percent. Inwido has been listed on Nasdaq Stockholm since 2014. Follow Inwido on LinkedIn.
