Improved margin in a challenging market
In the fourth quarter 2023, Inwido strengthens the gross margin for the fourth quarter in a row, improves cash flow, and ends the year with continued low debt despite the largest acquisition to date being completed in year. The results demonstrate the strenght of the business model and enable continued investments going forward despite challenging market conditions.
During the fourth quarter, net sales decreased by 13%, organically -21%, mainly linked to the reduced volumes in new construction in Sweden and Finland. Operating EBITA amounted to SEK 290 million (315), while the operating EBITA margin increased to 12.7 percent (12.1). The total order intake is unchanged compared to the corresponding quarter last year (-6 percent adjusted for acquisitions). Sidey Group, Inwido's largest acquisition to date, has contributed positively to the group since July.
”The fact that Inwido is not only succeeding in defending its margins under these circumstances, but is also strengthening them, is something I’m proud of. At the same time as we are working on a market that remains challenging, we are also now in the midst of the cold winter months, when consumers are less likely to replace their windows”, comments Peter Welin, CFO and acting President & CEO.
Read the complete press release in the attached pdf.
For more information, please contact:
Peter Welin, CFO and acting President & CEO Tel: 46 (0)703 24 31 90, peter.welin@inwido.com
Annika Falk, VP Communication and PR Tel: 46 (0)706 021371, annika.falk@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 34 business units with approximately 4,700 employees in eleven countries. In 2023 group sales amounted to SEK 9 billion with an operating EBITA margin of 11.4 percent. Inwido has been listed on Nasdaq Stockholm since 2014. Follow Inwido on LinkedIn.
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