Strong cash flow and continued favourable growth in e-commerce
Inwido’s President and CEO Henrik Hjalmarsson comments on the third quarter and first nine months of 2019.
“During the quarter, we delivered improved earnings, while a strong cash flow brought net debt down to 2.5x EBITDA. This development, towards improved earnings despite challenging markets, testifies to the strength of our new governance model, Simplify.”
“Compared with the corresponding period last year, net sales decreased by 1 percent to SEK 1,665 million (1,682). Despite the lower sales, we increased our profitability to SEK 203 million (202), mainly thanks to early cost saving initiatives and a more advantageous mix overall, with a higher proportion of consumer sales compared with last year. Our assessment is that we are continuing to capture market shares in the Nordic market.”
“Among our larger Danish Business Units, development remains strong, confirming that Inwido’s leadership, combined with independent local companies, can gradually develop and refine the operations. The positive trend in e-Commerce has continued and this business now accounts for 10 percent of consolidated sales. However, the new construction markets in Sweden and Finland are challenging, with reduced volumes as a result of decreased construction activity. It is pleasing to note the trend in the Norwegian operations, which continued to develop strongly over the quarter.”
“Inwido’s guiding principles are to acquire and develop Europe’s best companies in windows and doors. With a strong earnings and cash flow, as well as being backed up by 28 companies, we enter the fourth quarter with both confidence and humility.”
Read the full pressrelease, including KPI table, in the pdf attached
För mer information vänligen kontakta:
Inwido AB
Henrik Hjalmarsson, VD och koncernchef Tel: 076-846 20 46
Peter Welin, CFO och vVD Tel: 070- 324 31 90
E-post: 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.
