Sweden's Inwido Q3 sales rise 22%, order backlog hits record
Overview
Swedish window and door maker's Q3 net sales rose 22% yr/yr, organic growth 5%
Operating EBITA reached record high, margin improved to 12.3%
Order backlog hit all-time high, driven by Project segment demand
Outlook
Company expresses cautious optimism due to improvements and early signs of economic recovery
Company warns that rising energy prices and inflation may lead to higher interest rates in Europe
Inwido says it is well-positioned to consolidate the European window and door market
Result Drivers
PROJECT SEGMENT DEMAND - Co said increased volumes and demand in Project market drove Q3 growth across all business areas
OPERATIONAL EFFICIENCY - CEO said improved operational efficiency and effective cost control contributed to margin gains
DISCIPLINED PRICING - CEO said continued disciplined pricing practices helped offset higher input costs
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | SEK 2.72 bln | ||
Q3 EBITA | SEK 334 mln | ||
Q3 EBITA Margin | 12.3% | ||
Q3 Order Backlog | SEK 3.45 bln | ||
Q3 Organic Growth | 5% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction supplies & fixtures peer group is "buy"
Wall Street's median 12-month price target for Inwido AB (publ) is SEK211.50, about 10.8% above its October 20 closing price of SEK190.80
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago
Reuters Recommended Reads
Oct 20 - Sweden's Byggmax Q3 sales and profit rise
Oct 21 - Sweden's SKF misses Q3 sales, operating profit estimates
Oct 21 - Sweden's Husqvarna slightly misses Q3 sales estimates amid weak demand
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)