Byggmax turnover down by 5 per cent, company does not intend to pay a dividend

The Swedish Byggmax Group's turnover in the past financial year was 5.0 per cent lower than in the previous year. Net sales amounted to SEK 7.260 bn (EUR 643.5 mio), while the group's like-for-like sales decreased by 12.2 per cent. Exchange rate effects had a positive impact on net sales of 1.2 per cent. Acquisitions contributed with 4.0 per cent, according to the year-end report.

The year-on-year declines had increased towards the end of the year. The fourth quarter showed a minus of 10.0 per cent overall and 15.2 per cent in like-for-like terms. In this situation, the board has chosen to recommend no dividend payment for 2023. CEO Mattias Ankarberg justifies this decision with both low visibility on demand for larger renovation projects and many opportunities for add-on acquisitions.