Interim report January-March 2016

This information is such that Inwido AB (publ) is obliged to publish in
accordance with the Swedish Securities Market Act and/or Financial Instruments
Trading Act. The information was submitted for publication on Monday 25 April
2016, at 7:45 a.m.

Stable profit in fluctuating market

January – March 2016

  · Net sales amounted to SEK 1,048 million (1,047), representing a decrease of
1 percent for comparable units adjusted for currency effects
  · Operating EBITA rose to SEK 37 million (29) and the operating EBITA margin
rose to 3.5 percent (2.7)
  · EBITA amounted to SEK 27 million (29) after items affecting comparability of
a negative SEK 10 million (0), and the EBITA margin was 2.5 percent (2.7)
  · Earnings per share, before and after dilution, decreased to SEK 0.04 (0.34)
as a consequence of negative currency effects and items affecting comparability
  · An agreement was signed for the acquisition of Outrup Vinduer & Døre in
Denmark
  · An agreement was signed for the acquisition of Värmelux Oy in Finland after
the end of the period
The CEO comments:
"It is pleasing to note that Inwido began 2016 with stability even if we know
that we have greater potential. The seasonally weakest quarter of the year
turned out well, with operating profit of SEK 37 million, which is a substantial
improvement compared with the same period the year before. After a strong end to
2015, the first quarter has been irregular and a few business areas are
reporting somewhat worse results than the year before. Sales, adjusted for
currency effects and structure, showed a decrease of 1 percent due to lower
order bookings in the industry segments at the end of the fourth quarter last
year, as well as a temporary reduction in sales power in Finland in connection
with the structural change implemented there. In addition, there were fewer
working days due to the early Easter.

The improvement in earnings is primarily due to the continued positive sales
development in our consumer business. The positive trend from last year
continued in the first quarter of 2016. Looking at our individual markets, it is
the consumer segments in Sweden that are doing the best, while the order
bookings in the industry segments mainly in Denmark, but also in Sweden have had
a negative trend. However, this is something we expected as a result of our
strategy. During the quarter, we noted greater volatility and we are counting on
seeing continued market-based and geographical fluctuations during the year.

It is with pleasure that we were able to announce the agreements entered into
regarding two important acquisitions in recent months, Outrup in Denmark and
Värmelux in Finland. These acquisitions fit well in Inwido’s strategy. In both
cases, we are awaiting the approval of the competition authorities. They are two
excellent, profitable companies with skilful management that are strong in sales
channels and markets that we focus on. At the same time as the important work on
acquisitions to grow structurally, we are also consistently looking at
establishing new sales channels, improving our IT structure and introducing new
products and concepts, which require investments that can affect the results
somewhat in the short term. In parallel with this, we are continuing to work
actively to become more efficient and flexible. With this initiative, we can
further improve our growth – and long-term profitability.

External developments, both political and financial, remain uncertain with many
risks that could affect our business. Uncertainty on the housing policy in many
countries with regard to the right to make deductions, subsidies and taxation
also affects future investment and renovation decisions. At the same time, it is
important to affirm that there remains continued strong underlying demand for
both renovations and new housing in Europe. This in turn means that there is an
underlying demand for our products and services.

For Inwido, it is important to follow our plan with a predominance of sales in
consumer-driven channels, to continuously review our structure to find potential
additional efficiency enhancements and to work with both organic and acquisition
-based growth."

MALMÖ, 25 APRIL 2016
Håkan Jeppsson
President and CEO

Read the full report in the pdf attached
For more information, please contact:
Inwido AB
Håkan Jeppsson, President and CEO Phone: 46 (0)10-451 45 51 or 46 (0)70-550 15
17
Peter Welin, CFO Phone: 46(0)70-324 3190 or 46(0)10-451 45 52 E-mail:
peter.welin@inwido.com
About Inwido
Inwido is Europe’s largest supplier of windows and doors. The company has
operations in Denmark, Finland, Norway, Sweden, Austria, Estionia, Ireland,
Lithuania, Poland and the UK, as well as exports to a large number of other
countries. The Group markets some 20 strong local brands including Elitfönster,
SnickarPer, Hajom, Hemmafönster, Outline, Tiivi, Pihla, Diplomat and Sokolka.
Inwido has approximately 3,400 employees and generated sales of slightly more
than SEK 5.2 billion in 2015. The Group's headquarters are located in Malmö,
Sweden. For further information, please visit www.inwido.com