Solid development in a tough market
The first quarter of 2023 is characterized by a more challenging market compared with last year. Despite this, Inwido increased sales and achieved the second-best profit for a first quarter to date. The positive trend for business area e-Commerce continues with increased order intake and improved profitability during the quarter.
"We began 2023 facing a tougher market than last year. The fact that Inwido has nonetheless increased its sales, achieving our second-highest first quarter profit to date, shows that our focus on the consumer market, combined with a pan-European expansion, is building a resilient and stable Group," says Henrik Hjalmarsson, President, and CEO of Inwido.
During the quarter, sales increased by 1 percent, while the operational EBITA margin decreased slightly due to higher energy costs, a changed sales mix, increased marketing efforts to gain market share and lower volumes (despite higher sales), resulting in poorer cost coverage in production. However, margins improved in three out of four business areas during the quarter.
"The first quarter of 2023 showed stable sales and robust earnings. Although order intake is decreasing, it remains at a stable level in a longer-term perspective. The weak trend in the industry segment, affected by low new construction activity, continues and consumers are also affected by many people’s disposable income falling due to inflation and rising interest rates. We are also seeing considerable interest in, and extensive needs for, energy efficiency, both among homeowners and property companies.," says Henrik Hjalmarsson.