In the Q3 2023, operating EBITA increased to SEK 308 million ($27.7 million), compared to SEK 297 million ($26.7 million) in the Q3 2022. The operating EBITA margin increased to 13.2%. 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%, including the acquisition of Sidey Group. We also strengthened the EBITA margin to 13.2% and delivered a return on operating capital of 16.2%, significantly above our 15% target”, says Henrik Hjalmarsson, President and CEO of Inwido.
During the Q3 2023 sales decreased by 2% to SEK 2,339 million ($210 million) as a result of weaker demand.
The order intake stabilized and the total order intake increased by 3% compared with the corresponding quarter last year. The order backlog at the end of the period increased to SEK 2,428 million ($218 million) 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.
Inwido is a Sweden-based manufacturer of windows and doors.
