Berenberg starts Inwido with 'buy' on under-appreciated resilience

Inwido AB (publ)

12/09/2025 07:53

** Berenberg starts Swedish window and door manufacturer Inwido INWI.ST with "buy", citing its under-appreciated resilience in a tough market

** The broker highlights Inwido's stable operating margins despite a more than 20% drop in organic sales, says it is due to flexible cost base, pricing discipline

** It also notes that the company's decentralised structure makes it a strong consolidator in a fragmented market

** With an ambition to reach SEK 20 billion in sales by 2030, Inwido is likely to step-up its acquisitions, says Berenberg

** "Inwide is valued as a window company and not as the serial acquirer that it is," adds the broker

** Out of the three analysts covering the stock, two rate it "buy" and one "hold", based on LSEG data

(Reporting by Vera Dvorakova)

((vera.dvorakova@thomsonreuters.com))