Good start to the year despite a late and cold winter
Inwido’s President and CEO, Håkan Jeppsson, comments on the first quarter of 2018:
“The first quarter of 2018 was challenging in many ways, with a long and tough winter that led to reduced consumer sales. Despite this, we achieved our second-best first quarter earnings to date. In terms of earnings, we achieved our strongest first quarter in 2017, when the winter was mild and Easter fell in the second quarter – and that has affected the comparison figures this year.”
“In the first quarter of 2018, our reported sales increased by 2 percent to SEK 1,391 million. Operating profit for the quarter was SEK 56 million (83). Order bookings during the quarter were 6 percent lower than in the corresponding period in 2017 and the order backlog at the end of the quarter was 8 percent lower.”
“During the cold winter, the seasonally weakest period, with lower overall demand, competition intensified. However, Inwido’s primary exposure to the renovation and consumer market normally entails a favourable mix with better margins. We expect the markets to normalize with the arrival of spring, although the second quarter will also be affected by the late winter.”
“With our strong position in the Nordic region, our expanding business in the rest of Europe and in e‑commerce, we perceive good potential to continue growing in 2018, while also making Inwido even more efficient.”
Please read the full pressrelease, incl KPI:s, in the pdf attached
For more information, please contact:
Inwido AB
Håkan Jeppsson, President and CEO Tel.: 46 (0)10-451 45 51 or 46 (0)70-550 15 17
Peter Welin, CFO Tel.: 46 (0)10-451 45 52 or 46 (0)703 24 31 90
E-mail: peter.welin@inwido.com
About Inwido
Inwido is Europe’s largest supplier of windows and a leading door supplier. The company has operations in Denmark, Finland, Norway, Sweden, Austria, Estonia, Ireland, Lithuania, Romania, 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 4,400 employees and generated sales of slightly more than SEK 6.4 billion in 2017. The Group's headquarters are located in Malmö, Sweden. For further information, please visit www.inwido.com
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