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Inwido turnover again declines in Q4

24.02.2020 − 

In the fourth quarter Swedish window and door group Inwido generated turnover of SEK1.813bn, which represents a decline of 2.7% vis à vis the comparative quarter of the preceding year. In organic terms, turnover decreased by approximately 4%. No structural changes such as acquisitions took place during the reporting pe-riod. Currency effects, however, had a slightly positive effect on turnover. Incoming orders fell short of last year’s figure by 1%, and orders in hand decreased to SEK770m at the end of the quarter. Weak business in the Inwido North division also contributed to negative development in turnover and orders. This had also been the case in previous months.

The EBITDA and the operative EBITDA improved to SEK263m and SEK270m respectively. This increase was exclusively due to positive effects ensuing from the transition to the new IFRS 16 reporting standard, which took place at the beginning of 2019. Despite the transition effects, the EBITA and operative EBITA decreased to SEK186m and SEK211m. The same applies to the EBIT at SEK182m. The EBITA margin, at 10.2%, also declined. On the basis of the operative EBITA, Inwido achieved a slight improvement in the margin to 11.6%. The EBIT margin decreased vis à vis the comparative quarter of the preceding year to 10.0%.

In 2019 Inwido generated total turnover of SEK6.631bn. The fact that this figure fell only just short of the figure achieved in 2018 is attributed to currency effects (+2%) and structural changes (+1%). Organic turnover de-clined by 4%. Last year Inwido employed an average workforce of 4,356 persons.

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