The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Adela Dashian - Handelsbanken Capital Markets AB, Research Division - Analyst
: I have a couple of questions. First of all, how comfortable are you with keeping the current operating margin for Inwido South at such high levels?
And then also on the flip side, what's your outlook for Inwido North? Do you see an improvement in the consumer renovation market in Sweden
and Finland that could possibly bring the operating margin in that segment up?
Question: Adela Dashian - Handelsbanken Capital Markets AB, Research Division - Analyst
: Okay. Great. And then I would also like to obviously congratulate you on the improved balance sheet and reduced debt levels, which signals to us
that you're moving one step closer to gearing up for another acquisition. So could you please give us a rundown of what your top priorities are at
the moment for capital deployment? And if that involves M&A, what are the top areas of focus right now?
Question: Adela Dashian - Handelsbanken Capital Markets AB, Research Division - Analyst
: Right. But do you feel comfortable with the current net debt levels? Or do you feel like there's further work to do bring those down even more?
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: I've missed parts of the call so I might repeat some questions. But first of all, you mentioned that you saw a stronger development in Denmark. But
in the Q4 report, I mean, you commented that it declined. So do you mean that you see stronger development going forward, implying that Q4
has been a one-off? Or do you mean that you saw stronger development in terms of profitability in Denmark for the quarter?
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Okay. But your sales in Denmark was down in the quarter, right? That's correct?
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Okay. Including e-Commerce. Okay. So that's the difference. Okay. Perfect.
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Okay. And if you look at the order backlog at the end of the quarter, it was up 14%, I think, in Q4 for South. How much of that was from e-Commerce?
And how much of that was from Denmark, if you can try to...
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Okay. Perfect. And the final one for me. I mean I think you made the machinery -- new machinery investments. I think in September you communicated
that, and you previously said that you expected to install it in Q1 2020. Is it up and running now? Or -- and has it caused any production disturbances
in the quarter?
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Okay. So you expect a negative operational impact from the installation?
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FEBRUARY 05, 2020 / 9:00AM, INWI.ST - Q4 2019 Inwido AB (publ) Earnings Call
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