Investors | Inwido

Investing in Inwido

We generate long-term and sustainable value for both shareholders and society by leading and developing the strongest companies in the industry. Our overall objective is to grow with profitability and generate good returns.

Four reasons to invest in Inwido

A passion for improving indoor life

Inwido and its companies are passionate about improving indoor life, at home and at work. With deep roots in the window and door industry, we lead and develop Europe´s strongest companies within comfort, climate and safety. Together, we continuously provide society with new, energy-efficient solutions, which in turn enable people to live more sustainably.

A unique home to local market leaders

In our business, customer focus and local understanding is everything. With this as base, Inwido acts as a home to local market leaders. The companies develop independently, but Inwido enables sustainable growth and profitability through purchasing, digitalization, financing, leadership skills and other large-scale synergy advantages.

Committed to creating long-term shareholder value

As the industry leader, we are committed to delivering shareholder value with robust dividends and sustainable, profitable growth, both organic and via acquisitions. We have a strong financial track record, stable cash flow and a history of profitability also in economic downturns, bringing long-term advantages to investors, companies and society.

Well positioned for future growth

We believe in continuous demand for good indoor life. Our businesses are well positioned to act on major forces such as digitalization and climate change, as well as new growth opportunities, like e-commerce and connected products. We are confident that we can keep attracting future market leaders to the Inwido home, and have over 50 acquisitions to prove it.

Financial targets

Financial ambition

Inwido’s financial ambition is to increase operating EBITA by at least 10 percent annually.

Financial target - Sales growth

Inwido´s objective is to exceed growth in our current markets through organic growth, as well as selective acquisitions and initiatives in Europe.

Comments

In 2018, net sales increased by 5 percent, while organic growth was negative by 2 percent. Our assessment is that Inwido had organic growth in the Nordic region in line with the market as a whole. Inwido conducted two acquisitions in 2018, which together generated approximately SEK 250 million in annual sales.

Outcome 2018

Financial target - Profitability

Inwido’s profitability target is an operating EBITA margin of 12 percent. Inwido may not achieve the profitability target during years when the market trend is weaker. In such cases, we will undertake measures to further enhance profitability, which we have been successful with in the past.

Comments

The operating EBITA margin for the year amounted to 9.9 percent (10.2). The somewhat lower margin is an effect of increased market competition, particularly in Sweden and Finland, as well as increased raw material prices, which were offset by improved efficiency and implemented cost savings.

Outcome 2018

Financial target - Capital structure

Inwido’s net debt in relation to operating EBITDA shall, excluding temporary deviations, not exceed a multiple of 2.5.

Comments

Net debt in relation to operating EBITDA amounted to a multiple of 2.7 (2.1). The increase in net debt in relation to operating EBITDA compared with the preceding year was mainly attributable to acquisitions.

Outcome 2018

Financial target - Dividend

Inwido aims to pay its shareholders an annual dividend that corresponds to approximately 50 percent of net profit. However, Inwido’s financial status in relation to the target, cash flow and future prospects shall be taken into consideration.

Comments

In line with the dividend policy and taking the capital structure into account, the Board of Directors proposes that the dividend for the 2018 financial year be set at SEK 2.50 per share (3.50), corresponding to 33 percent of profit for the year after tax.

Outcome 2018

Net debt to operating EBITDA

One of the key ratios in respect of the capital structure is nebt debt in relation to operating EBITDA (LTM). Inwido’s net debt in relation to operating EBITDA shall, excluding temporary devations, not exceed a multiple of 2.5.

2019-07-15

Interim Report January-June 2019

2019-04-25

Interim report January-March 2019

All Reports

2019-08-28