Inwido: growth accelerates once again

In the fourth quarter, Inwido increased its turnover by 21.0% to SEK2.175bn. Growth thus accelerated further towards the end of the year. In the first two quarters, turnover had risen by 13.5% and 16.9% respectively; a 10.5% increase was reported for the third quarter. At appro-ximately 19%, most of the turnover increase achieved in the reporting period is attributable to organic growth; the remaining 2% was achieved by way of acquisition effects. In mid-April 2021, Inwido had acquired a majority stake in Finnish window, door and façade manufacturer Metallityo Välimäki (MV Center) and incorporated this into its north business division. Con-cerning quarterly results, growth rates have recently plateaued somewhat. Operating EBITA rose by 5.6% to SEK244m. In the case of EBIT, an increase of 13.7% to SEK257m was re-corded. The margins calculated on the basis of these two results each decreased, to 11.2% and 11.8% respectively.

The north division contributed SEK1.242bn to total turnover. The preceding year’s figure was exceeded by 25%; adjusted to account for acquisitions, the increase amounted to 21%. The north division includes the Swedish, Norwegian and Finnish markets, where turnover in-creases were achieved in each case. Approximately 60% of the turnover was generated in the consumer segment - which focuses on private customers - and around 40% in the industry segment, which focuses on large customers and construction companies. Operating EBITA improved by 2.7% to SEK75m; the corresponding margin was lower, however, at 6.1%.
In the south division - which comprises the remaining sales markets of Denmark, Poland, Gre-at Britain, Ireland and Germany as well as e-commerce activities - turnover increased by 16% to SEK889m. Organic growth, at +17%, was even slightly higher. Of the turnover generated in this division, 92% was attributable to the consumer segment and 8% to the industry seg-ment. In Denmark, by far the largest individual market in the division, turnover increased by 12.0% to SEK614m. In Germany, where Inwido operates the online platform, turnover rose by 30% to SEK26m. Through its online trading activities, the company achieved total organic turnover growth of 4%. Operating EBITA improved by 21% to SEK175m; the margin rose to 19.7%.

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