Ratos receives SEK 290m in dividend from Inwido
Ratos's subsidiary Inwido distributes a dividend totalling SEK 301m of which Ratos receives SEK 290m. The dividend has been enabled by the company's favourable development in recent years.
Inwido develops, manufactures and sells a full range of windows and doors to consumers, construction companies and prefabricated home manufacturers. Operations are conducted in all the Nordic countries as well as in the UK, Ireland, Poland and Russia. The company's brands include Elitfönster, SnickarPer, Tiivi, KPK, Lyssand and Allan Brothers.
"In 2009, Ratos made a SEK 400m capital contribution to Inwido in order to strengthen the balance sheet following the 30 add-on acquisitions made up to that point during our ownership period. Since then, Inwido has performed well with good cash flows and this has created a strong balance sheet which has enabled this dividend," says Ratos CEO Arne Karlsson.
Inwido was acquired by Ratos in 2004 and is today the largest window and door manufacturer in the Nordic region. Sales in 2010 totalled SEK 5,149m and operating profit (EBITA) was SEK 446m. Ratos's holding in Inwido amounts to 96%.
The dividend amounts to a total of SEK 301m and Ratos's share amounts to SEK 290m. Ratos's consolidated book value in Inwido will be adjusted downwards by a corresponding amount. The dividend will not affect earnings for the Ratos Group. No additional loans are raised by Inwido in conjunction with the dividend.
For further information, please contact: Arne Karlsson, CEO, +46 8 700 17 00 Emma Rheborg, Head of Corporate Communications & IR, +46 733 80 22 63
Financial calendar from Ratos:
Interim Report January - June 2011 19 August 2011
Interim Report January - September 2011 9 November 2011
Ratos is a private equity conglomerate. The company's mission is to maximise shareholder value over time through the professional, active and responsible exercise of its ownership role in primarily medium to large unlisted Nordic companies. Ratos's holdings include AH Industries, Anticimex, Arcus-Gruppen, Biolin Scientific, Bisnode, Contex, DIAB, EuroMaint, Finnkino, GS-Hydro, Hafa Bathroom Group, HL Display, Inwido, Jøtul, KVD Kvarndammen, Lindab, Medisize, Mobile Climate Control, SB Seating and Stofa. Ratos is listed on Nasdaq OMX Stockholm, and its market capitalisation is approximately SEK 39 billion.