A strong end to a record year
With continued good development during the last quarter of the year, 2022 sums up to be the best year so far for Inwido. During the year, sales increased by 23.6 percent to SEK 9.5 billion, with an Operating EBITA of SEK 1,090 million. For the fourth quarter, turnover increases by 20 percent, while operating EBITA increases to SEK 315 million, the highest quarterly profit to date.
"Summing up 2022, it is with pride that I can conclude that we are delivering both our best quarter and full year to date, despite a turbulent environment. The return on operating capital is improving and cash flow is strong. This has created the conditions to be able to raise the dividend also for 2022 and at the same time continue our growth journey, both through acquisitions and investments in our existing operations," says Henrik Hjalmarsson, President, and CEO of Inwido.
During the quarter, order intake increased by 2%. Within the consumer segment, our focus area, demand is stable, while industry's purchasing needs are slowing down. 2022 has, until the fourth quarter, been tough for e-Commerce, but now the trend has turned with a profit for the fourth quarter that was better than last year, while the order intake is increasing.
"We enter 2023 with an order backlog, that is back to a more ”normal” level after the effects of the pandemic, while order intake is stable. Demand from the industrial segment is clearly weaker. At the same time, consumers' interest in energy-efficient windows and doors has increased, even though disposable incomes are decreasing. In the long term, we are also optimistic for the industrial market, because the need for new housing remains high, while many older properties need to be renovated to become more energy efficient and have a better indoor environment," writes Henrik Hjalmarsson in the CEO's words of the quarterly report.
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