Sweden: Byggmax Group Updates Financial Targets .

Byggmax Group’s Board of Directors has decided to update the group’s financial targets, to better reflect the company’s growth ambitions. Byggmax saw a sales increase of 29 per cent from 2019 to 2020. Yesterday, Byggmax Group held a Digital Capital Markets Day. The program covered Byggmax’s position and future ambitions, and also how Byggmax is impacted by some of the biggest trends of our time: discount, the home, and e-commerce.

“We have a strong position and are growing significantly faster than the market, with the fastest growth from e-commerce”, says Mattias Ankarberg, CEO of Byggmax Group. “The new sales target, to reach SEK 10 billion by 2025, clearly shows our ambitions to continue to grow fast. The other targets show our aim to do so with good profitability and dividend to shareholders, while maintaining a strong balance sheet and responsibility for the world around us.”

The updated financial targets are:
Net sales of at least SEK 10 billion 2025 (previous goal: organic growth of 10-15% per year)
Operating profit measured as EBITA of 7-8% (unchanged)
Net debt / EBITDA (excl. IFRS16, EBITDA rolling 12 months) max 2.5x (new target)
Dividend equivalent to at least 50% of net income (unchanged)

www.byggmax.se

Global DIY Network: “Meet the CEO” with Carl Otto Løvenskiold, CEO of Løvenskiold-Vækerø AS.

On Wednesday 27th of January John W. Herbert, General Secretary of EDRA/GHIN, will kick-start the “Meet the CEO” series for 2021 with an interview with Carl Otto Løvenskiold, CEO of Løvenskiold-Vækerø AS.

Løvenskiold-Vækerø is a modern company with a long history, being established in 1649. The company is a leading player within commerce, real estate, forestry and agriculture, and constantly aims to take an active part in the further development of these industries in Norway.

The core values of Løvenskiold-Vækerø AS form the basis of their culture, shaping all of their actions. These core values are:

  1. Customer Focus
  2. Innovation
  3. Energy
  4. Long-Term View
MAXBO is the flagship of Løvenskiold Handel, Løvenskiold-Vækerø’s daughter company. The MAXBO chain originates from the traditional retail store for building material at Vækerø. The MAXBO concept consists of MAXBO, MAXBO Stormarked and MAXBO Proff.

The interview will take place through the The Global DIY-Network the global platform which brings together retailers, manufacturers, online players, consultants, journalists & professors, among other stakeholders from the home improvement industry.

Norway: Market reports growth in 2018 and 2019

The Norwegian home improvement market grew by almost 5% in 2018 and further growth is expected in 2019. 2018 was a positive year for the players in the Norwegian home improvement trade. According to market figures from the main association of service industries Virke, they generated NOK 48.5 bn (around EUR 4.9 bn), which corresponds to an increase of 4.7% over the previous year. The growth resulted primarily from an increase in the professional business, which accounted for 62% of sales in 2018. More and more people who want to build and renovate rely on professional support for their projects instead of doing their own thing. Nevertheless, the end-consumer market also developed positively in terms of sales in 2018 (plus 1.3%), according to the association. For 2019, it lowered his growth forecast from 5% to 2% last September.

 

Source: www.baumarktmanager.de