CEO comments

We continue to strengthen our profitability, despite a continued soft market. Although volumes in the project market are at a historically low level, our efforts to pool resources into the consumer market are generating solid returns, and our cost out activities and factory consolidations are delivering savings above plan.

I am pleased with the profitability improvements in the Nordics and the fact that our Group gross margin has improved year-over-year for the fifth consecutive quarter. While we continue to make solid progress in consumer sales, margin improvements, and cash generation, we remain challenged by historically low market volumes in the project segments.

During the quarter, we took further significant steps to enhance profitability in challenging market conditions. I am pleased with the improved performance in the Nordic region, which delivered higher earnings and achieved market share gains despite a substantial volume decline in the project market. In the UK, we continued to make progress in transitioning to a new business model, while also implementing additional cost-reduction initiatives during the period.

The kitchen market remained weak in the third quarter primarily due to decline in the project market across all regions. Consumer market showed signs of recovery with most of our brands experiencing an increase in design appointments and improving quote banks from consumers.

Kristoffer Ljungfelt comments on Q2, 2024

Kristoffer Ljungfelt comments on Q1, 2024

Jon Sintorn comments on Q4, 2023

Jon Sintorn comments Q3, 2023