The CEO comments:

Inwido has performed well this year in terms of both growth and profitability. Sales saw organic growth of 8 percent and order bookings for comparable units rose by 7 percent in the third quarter. The order backlog for comparable units is now 16 percent higher than at the same point in 2013. Meanwhile, the initiatives we have been pursuing in recent years have significantly enhanced efficiency in our operations, which means that, since achieving volume growth we have seen a rapid improvement in earnings. Our operating profit (EBITA) rose to SEK 171 million for the quarter, resulting in an encouraging operating margin of 13.3 percent.

Our performance in the third quarter has varied across markets and distribution channels. Denmark is currently our strongest market. Alongside the fact that we have won market share, the acquisitions of JNA and SPAR have also made a positive contribution to both growth and earnings. In Sweden, it is primarily the industry market that is experiencing strong growth, while the Finnish market is characterised by persistently weak development, offset by the disappearance of a significant competitor and our subsequent increase in market share. The Norwegian market is performing slightly under par. The radical internal measures we implemented in Norway have in this respect produced the anticipated positive impact. The focus is now on increasing income. Developments on markets outside the Nordic region have been varied, with Ireland being a market that is performing extremely well for us. Generally speaking, competition remains fierce.

As regards our operating environment and the indicators that we monitor, we noted a somewhat increased uncertainty after the summer. We are seeing this in areas such as consumer confidence. Development in the Nordic region is divided, with Sweden and Denmark progressing in the right direction, albeit slowly, while the Finnish economy is being impacted by the crisis in Russia.

For our part, with winter, our quietest season, now approaching, we are, as usual, adjusting our production capacity and consequently also our costs. In addition, we are persisting with our continual work on long-term improvements in efficiency, new and smarter product solutions and our focus on the consumer, with the aim of bringing about profitable growth. 

MALMÖ, 28 OCTOBER 2014

Håkan Jeppsson
President and CEO

Read the full report in the pdf attached