Fourth quarter of 2010

• Net sales decreased by 6 percent to SEK 1,391 million (1,473); adjusted for currency effects, net sales increased by 1 percent
• Operating profit (EBITA) amounted to SEK 84 million (118)
• Adjusted for items affecting comparability, the operating margin (EBITA) was 10.3 percent (10.4)
• Profit after tax was SEK 6 million (10)
• Cash flow from operating activities increased to SEK 294 million (283)

January – December 2010

• Net sales rose by 2 percent to SEK 5,149 million (5,026); adjusted for currency effects, net sales rose by 7 percent
• Operating profit (EBITA) rose to SEK 446 million (348)
• The operating margin (EBITA) increased to 8.7 percent (6.9)
• Adjusted for items affecting comparability, the operating margin (EBITA) increased to 10.2 percent (7.7)
• Profit after tax rose to SEK 207 million (52)
• Cash flow from operating activities was SEK 383 million (510)
• Inwido AB acquired 34 percent of the shares in Inwido Denmark, following which the process of acquiring the outstanding minority interests in Inwido’s subsidiaries is largely complete
• Net debt amounted to SEK 1,501 million at the end of the year, a decrease of SEK 491 million compared with the year-earlier period

CEO Håkan Jeppsson comments:
“2010 was an excellent year for Inwido, with currency adjusted sales increasing by 7 percent. Operating profit rose to SEK 527 million, an improvement of 35 percent, and with an operating margin that reached just over 10 percent. We further strengthened our market position on the Nordic markets through the development of new customer and consumer adapted solutions. The economic climate improved compared to 2009 but has remained uncertain and challenging in many countries. For Inwido it was chiefly the markets outside the Nordic region that performed more poorly than expected.

During the fourth quarter, sales adjusted for currency effects increased by 1 percent. The operating margin of 10.3 percent is in line with last year’s, despite the unusually early, cold and snowy winter.

In 2011 we plan to boost our investments in growth and our focus on the consumer. While we are increasing our offensive investments, we are also aware that certain external factors will have a negative impact on us in future, such as the rising price of raw materials. Naturally Inwido needs to adapt to its changing circumstances, but always in a manner that corresponds to our vision of improving people’s well-being. Following a somewhat weak start to 2011 due to the harsh winter, we are now looking ahead to continued positive development in 2011.”