Strengthened profit and stabilized order intake
Inwido achieved its best result in a third quarter to date despite a continued challenging market.
In the third quarter, operating EBITA increased to SEK 308 million (297). The operating EBITA margin increased to 13.2 percent (12.5). The work to reduce production costs continued in the right direction which, combined with price increases, boosted the gross margin.
”Investments in new construction remained restrained and also on the consumer side we experienced a more cautious trend. Nonetheless, we managed to improve order intake by 3 percent, including the acquisition of Sidey Group. We also strengthened the EBITA margin to 13.2 percent and delivered a return on operating capital of 16.2 percent, significantly above our 15 percent target”, says Henrik Hjalmarsson, President and CEO of Inwido.
During the third quarter sales decreased by 2 percent to SEK 2,339 million (2,386) as a result of weaker demand.
The order intake stabilized and the total order intake increased by 3 percent compared with the corresponding quarter last year. The order backlog at the end of the period increased to SEK 2,428 million (2,420) as a consequence of the acquisition of Sidey Group.
”We saw a positive development in three out of four business areas, and I am happy to see Business Area e-Commerce grow sales, order intake, and profits in a tough consumer market. Scottish Sidey Group, which was acquired at the beginning of the quarter, has come off to a very positive start as part of the Inwido family and contributed positively to the result”, says Henrik Hjalmarsson.
Read the full press release incl KPI table in the attached pdf.
For more information, please contact:
Henrik Hjalmarsson, President and CEO Tel.: 46 (0)76 846 20 46, henrik.hjalmarsson@inwido.com
Annika Falk, VP Communication & PR, Tel.: 46 (0)70 602 13 71, 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 33 business units with approximately 4,800 employees in eleven countries. In 2022 group sales amounted to SEK 9.5 billion with an operating EBITA margin of 11.4 percent. Inwido has been listed on Nasdaq Stockholm since 2014. Follow Inwido on LinkedIn.
