Inwido AB (publ)
STO:INWI
Inwido AB (publ)
Inwido AB engages in the provision of windows and door solutions. The company is headquartered in Malmo, Skane and currently employs 4,585 full-time employees. The company went IPO on 2014-09-26. The firm develops, produces and sells environmentally friendly wooden windows and aluminum clad wooden windows and doors, as well as provides a range of related services and accessories to consumers, carpenters, middlemen, building companies and manufacturers of prefabricated homes. The company is divided in four segments: Sweden; Nordic, comprising markets of Denmark, Finland and Norway; Europe, including operations in Poland, the United Kingdom, Ireland, Russia and Austria; and Supply, which comprises five special production companies that provide components and services within windows and doors. The offering of Inwido AB (publ) is available under such brands as: Elitfonster, Diplomat, Hajom, SnickarPer, Sokolka, Pihla, Tiivi, KPK, Lampolux and Outline. The firm has more than 50 subsidiaries.
Inwido AB engages in the provision of windows and door solutions. The company is headquartered in Malmo, Skane and currently employs 4,585 full-time employees. The company went IPO on 2014-09-26. The firm develops, produces and sells environmentally friendly wooden windows and aluminum clad wooden windows and doors, as well as provides a range of related services and accessories to consumers, carpenters, middlemen, building companies and manufacturers of prefabricated homes. The company is divided in four segments: Sweden; Nordic, comprising markets of Denmark, Finland and Norway; Europe, including operations in Poland, the United Kingdom, Ireland, Russia and Austria; and Supply, which comprises five special production companies that provide components and services within windows and doors. The offering of Inwido AB (publ) is available under such brands as: Elitfonster, Diplomat, Hajom, SnickarPer, Sokolka, Pihla, Tiivi, KPK, Lampolux and Outline. The firm has more than 50 subsidiaries.
Organic Growth: Inwido returned to organic sales growth in Q4, with organic sales up 3% and consumer order intake slightly positive, despite a soft market and tough comps from a large prior-year order.
Profitability: Margins held up well in Q4, with gross margin only slightly lower at 25.7% (vs. 25.9% last year), as cost reductions and efficiency gains offset negative mix and currency headwinds.
M&A Activity: Four acquisitions were completed in the last four months, adding nearly SEK 1 billion in pro forma sales and expanding Inwido’s footprint to new countries like Slovenia.
Cash Flow & Balance Sheet: Strong operating cash flow in Q4, low CapEx, and manageable gearing (net debt/EBITDA at 1.7x reported, 1.5x pro forma) support continued M&A.
Dividend: The board proposes a dividend of SEK 5.50 per share, unchanged from last year.
Market Conditions: Demand remains mixed by geography—Sweden is improving, Denmark and Norway are stable, while Finland and parts of the UK are still challenging.
Outlook: Management is cautiously optimistic about 2026, citing pent-up demand, more cost flexibility, and readiness to meet higher volumes when recovery comes.
