Sweden's Inwido Q2 sales rise, partly helped by Sovereign Group acquisition
Sweden's Inwido Q2 sales rise, partly helped by Sovereign Group acquisition
Overview
Sweden window and door maker's Q2 net sales rose 16% yr/yr, with 4% organic growth
Q2 operating EBITA reached record high for the quarter, margin improved to 11.5%
Company completed two acquisitions and saw record project order in Scotland boost order intake
Outlook
Company expects additional cost inflation, leading to further price increases
Inwido says gradual improvements across business areas give cause for cautious optimism
Company says it is well-equipped to handle various scenarios due to strong financial position
Result Drivers
RECORD PROJECT ORDER - Order intake was boosted by a record GBP 50 mln project order in Scotland, providing a stable production base for coming years
ACQUISITIONS - Two acquisitions, Sovereign Group in England and Marlex in Croatia, contributed to growth, with Sovereign Group integrated and making a positive impact in the quarter
COST AND PRICING ACTIONS - Early efforts in purchasing and pricing helped counter margin pressure from higher input and energy costs
Company press release: ID:nMFN23Jzqw
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 2.72 bln |
|
Q2 EBITA |
| SEK 314 mln |
|
Q2 EBITA Margin |
| 11.50% |
|
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 SEK206.00, about 40.9% above its July 14 closing price of SEK146.20
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)