Robust profits with improved margin
Inwido’s President and CEO Henrik Hjalmarsson comments on the second quarter and the first six months of 2019:
“During the second quarter of 2019, we continued to deliver robust profits with a strengthened margin and improved cash flow, despite a challenging window market in Sweden and Finland. The Danish units and our e-commerce business are delivering good profits and our combined assessment is that we are, on the whole, continuing to gain market shares in the Nordic market.”
“Compared with the corresponding period in the preceding year, net sales decreased by 1 percent over the quarter to SEK 1,710 million. Despite the lower sales, operating EBITA for the quarter increased to SEK 187 million (184) and the operating EBITA margin rose to 10.9 percent (10.6), mainly due to our early cost savings initiatives and a generally more favourable mix.”
“Our long-term acquisition strategy stands firm and our efforts to further strengthen the balance sheet to be able to make acquisitions continue. In line with this it is also satisfying that during the first half of the year, we improved cash flow from operating activities by SEK 219 million compared with the corresponding period last year, meaning that the net debt/EBITDA ratio at the end of the quarter was 2.8, excluding IFRS 16, compared with 3.2 twelve months earlier.”
“Looking ahead, the Industry market in both Sweden and Finland shows few signs of recovery, and the decline in new construction activity is expected to continue. The Consumer markets, however, appear to remain more stable. The conditions in the Danish and Norwegian markets continue to appear favourable, as do the outlook for e-commerce, and there is, on the whole, an underlying need for housing investment in our markets, as well as increased interest.”
Read the full press release, including KPI table, attached
For more information, please contact:
Inwido AB
Henrik Hjalmarsson, President and CEO Tel.: 46 (0)76 846 20 46
Peter Welin, CFO Phone: 46(0)70-324 3190 or 46(0)10-451 45 52 E-mail: peter.welin@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 2018, Inwido achieved sales of SEK 6.7 billion and an operating EBITA margin of 9.9 percent. The Group has some 4,500 employees in total, with operations in Denmark, Estonia, Finland, Ireland, Lithuania, Norway, Poland, Romania, the UK, Sweden and Germany.
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