Recovery is slow, but gradual improvement in the quarter
The rebound in consumer demand is slower than anticipated. After a sluggish start, as a result of the lower order intake in Q2, demand gradually improved during the quarter, with both sales and order intake increasing in September.
“In the quarter, profitability was hampered by lower sales, a negative segment and geography mix, and a stronger Swedish krona“, says Fredrik Meuller, President and CEO of Inwido and continues: “Market activity varied considerably across Inwido's different geographies. In Sweden and Ireland, Consumer activity was higher, and both markets developed positively. Markets in the UK and Finland remain challenging, while the markets in Denmark and Norway were unchanged”.
Expectations of seasonal recovery during the summer months, above all in Finland and the UK, resulted in under-absorbed costs before adjustments took effect later in the quarter.
To balance lower organic growth, M&A activity has been ramped up. In the quarter, RM Snickerier in Vimmerby, Sweden, was acquired, as well as Fast Frame in the UK after the end of the quarter. Both are small but highly profitable companies with a good fit to our current offering and with potential for synergies in sales and purchasing.
“Recovery is slow as a result of geopolitical turmoil and volatile markets, but long-term industry drivers remain fundamentally attractive for Inwido, and our leading position, financial strength and solid order book offer comfort”, concludes Fredrik Meuller.
For more information, please contact:
Fredrik Meuller, President and CEO
Tel. +46 (0) 734 22 70 11
Annika Falk, VP Communication & PR
Tel. +46 (0) 706 02 13 71
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 36 business units with approximately 4,700 employees in twelve countries. In 2024 group sales amounted to SEK 8.8 billion with an operating EBITA margin of 10.8 percent. Inwido has been listed on Nasdaq Stockholm since 2014. Follow Inwido on LinkedIn.
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