MALMÖ, Sweden--(BUSINESS WIRE)--Regulatory News:
This information is such that Inwido AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted by the contact persons below for publication on Monday, 24 October 2016 at 7:46 a.m.
Inwido’s President and CEO Håkan Jeppsson comments on the third quarter 2016;
“With an operating profit of SEK 202 million (195), we are delivering the best third quarter ever. Just once before have we succeeded in achieving an operating profit of more than SEK 200 million in a single quarter.”
“Sales increased by 9 percent at the same time that organic sales and order bookings were somewhat weaker than expected, mainly due to the development in Sweden during the summer. Growth strengthened in our other segments.”
“Profitability continues to develop, not least due to all efficiency enhancements we have made in the production structure, which are becoming apparent in a continuously improved gross margin. The operating margin during the quarter was 14 percent.”
“Acquisitions are a fundamental part of our growth strategy. So far in 2016, we have acquired companies that provide annual sales of more than SEK 850 million. The acquisitions during the year developed positively during the quarter even if they initially push our operating margin down somewhat.”
“We are continuing to work according to our plan with an emphasis on sales in consumer-driven channels, continuously reviewing our structure to identify further efficiency enhancements if possible and to work on growth both organically and through acquisitions.”
Please read the entire press release in the pdf attached
About Inwido
Inwido is Europe’s largest supplier of windows and doors. The company has operations in Denmark, Finland, Norway, Sweden, Austria, Estionia, Ireland, Lithuania, Poland and the UK, as well as exports to a large number of other countries. The Group markets some 20 strong local brands including Elitfönster, SnickarPer, Hajom, Hemmafönster, Outline, Tiivi, Pihla, Diplomat and Sokolka. Inwido has approximately 4,000 employees and generated sales of slightly more than SEK 5.2 billion in 2015. The Group's headquarters are located in Malmö, Sweden. For further information, please visit www.inwido.com
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