CEO Håkan Jeppsson comments:
”The year 2011 did not turn out to be quite the year we expected. Despite good growth in the industrial market, the year ended up being something of a disappointment. The somewhat weaker profits were a direct consequence of weakened demand in the consumer market. Nonetheless, Inwido succeeded in growing organically in several markets and overall we have captured market shares in most of our markets. At the same time, we also improved our earnings considerably in our European markets. Naturally, the uncertain economic climate was a strong contributing factor behind our decreased consumer sales in 2011.

To maintain our competitiveness, we have initiated a process to streamline the production structure within the Group. This has entailed closing factories in Denmark, Russia and Sweden during the year. Our intensive efforts to enhance efficiency and reduce the amount of capital tied up also resulted in strong cash flow and reduced net debt while it was also possible to pay a dividend to shareholders. The uncertain economic climate continues to make it difficult to assess how demand will develop. We will therefore continue to work with efficiency enhancement measures in 2012.

Despite 2011 not fully meeting our own expectations, I can nonetheless say that Inwido strengthened its market position over the year and took important steps towards realising its consumer strategy. With our ambition to develop new products for comfortable everyday home life for our consumers, and by meeting increasing needs for energy-saving window and door solutions, we are facing up to the challenges that the new year offers.”

Please read the entire report in the pdf attached