Summary of Inwido's Capital Markets Day 7 December 2023
At the Capital Markets Day organized at At Six in Stockholm today, Inwido presents the strength of its business model and how the markets are expected to develop with focus on energy efficiency and increased sustainability requirements.
The day begins with Inwido's departing President and CEO Henrik Hjalmarsson, who introduces the agenda of the day, and we welcome our new President and CEO Fredrik Meuller, who will join the company no later than May 1, 2024.
"With increased demands from the EU and continued high energy prices, the pressure to convert to more energy-efficient buildings increases. In combination with our strong positions in existing markets and a strong balance sheet which enables acquisitions, I see continued good potential for growth and I look forward to following the journey of Inwido under Fredrik Meuller's leadership," says Henrik Hjalmarsson.
Mads Storgaard Mehlsen, EVP Scandinavia, presents the development in Business Area Scandinavia and the strategy for growth with focus on increasing market shares. He also presents the "One Factory" project at Elitfönster in Vetlanda, a merger of two production units that creates more efficient and sustainable production as well as several competitive advantages.
Antti Vuonokari, EVP Eastern Europe, presents how Business Area Eastern Europe has developed with an increasing operational EBITA margin over the last five years. He talks about the development potential going forward and the opportunity to use the strong market position in wood/aluminum doors and windows to expand into new markets with new products.
Bo Overgaard Christensen, EVP e-Commerce, shows how Inwido’s e-commerce business has developed and what the ambitions are for each market going forward. He also presents the Business Area's strategy to deliver the best customer experience, increase brand awareness and strengthen positions in the local markets.
Jonna Opitz, EVP Communications & interim EVP Western Europe, presents the development within Business Area Western Europe and the strategy for continued growth, including a focus on new technologies and new acquisitions. She also introduces Inwido's latest and largest acquisition to date, Sidey Group, Scotland's leading window and door company, who we are delighted to have as part of the Inwido family.
Inwido's sustainability work is presented by Lena Wessner, EVP HR, Organization & Sustainability, who explains how the work is progressing according to the company's sustainability compass. Since 2021, Inwido has decided to join the global climate cooperation SBTi – Science Based Targets initiative, and the application to validate the targets was submitted in October this year. She also presents the company's successful model for governance and leadership with the company’s own MD training and continuous succession planning.
Then Mads Storgaard Mehlsen, EVP Scandinavia, presents how we view market development and what will drive demand going forward, with particular focus on energy efficiency and the EU's Green Deal.
A financial review rounds off the Capital Markets Day. CFO and deputy CEO Peter Welin presents Inwido's strong financial situation and stability over business cycles. Peter further mentions that we expect a return to more normal seasonality, with larger margin differences between quarters, from 2024 compared to what we have seen in recent years during the COVID pandemic. He reiterates the group's long-term financial goals with a turnover of SEK 20 billion by 2030, ROOC >15%, net debt in relation to operating EBITDA <2.5x, and a dividend of approximately 50% of the net profit.
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 and 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.
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