Regulatory press releases

On this page, you can find Byggmax’s regulatory press releases, i.e. press releases containing financial information that may affect the share price. Other press releases can be found under the heading non regulatory press releases.

4 April 2011
59,000 SEK for a kitchen
Solna, April 4th, 2011
59,000 SEK is the average amount people are willing to spend on a total kitchen renovation, including whiteware. People living in Stockholm are willing to spend more. One in four in the capital would spend more than 100 000 SEK and one in ten more than 150 000 SEK. People living in northern Sweden are willing to spend the least amount on a new kitchen.  14 percent are not willing to spend more than 10 000 SEK for a total kitchen renovation, including appliances, sinks and tiles. These results were shown in the "Swedish Kitchen Report" survey conducted by Byggmax for the launch of the Byggmax increased online range that will drive down prices on kitchen, bath and building products in Sweden. 
“The survey shows that many Swedes want to build a kitchen at a reasonable cost, while there is a group that wants to invest a lot of money on their kitchens”, says Magnus Agervald, CEO of Byggmax. 
Byggmax used the ‘Swedish Kitchen Report’ survey to ask 1178 people in Sweden about their sources of inspiration, why they shop online and how much they think a kitchen should cost to renovate.
Comparing prices is important, especially for the young 
"Price comparison" is very important to Swedes; 56 percent say that this is the biggest advantage when buying kitchen and building materials online. Other advantages are the ability to check stocks, shopping at any time and being able to view products. Home delivery is seen as least important; only 29 percent saw home delivery as the main priority when shopping online. Men are generally more interested in comparing prices than women, 58 and 54 percent respectively. What stood out very clearly was within the 18-34 age group where a full 67 percent said price comparison was the greatest advantage. 
TV programs and friends
Interior design shows on TV provide the main source of inspiration for renovating kitchens, as well as friends and acquaintances, 48 and 47 percent respectively. Women are more influenced by interior design programs on television, with 53 percent saying that television is their greatest inspiration. In this perspective there is a clear difference between men and women, with only 42 percent of men getting inspiration from television shows. 34 percent of men find inspiration in blogs, building and interior websites.

Byggmax to become the leading online distributor for building materials, kitchens and bathrooms
The Swedish Kitchen Report was carried out in association with the launch of the new Byggmax extended online range. Amongst many other things, Byggmax introduces one of Europe's largest kitchen suppliers, Black Red White, to the Swedish market. Together, the companies have developed a concept which is aggressively priced to drive down prices in the Swedish kitchen market. The price is estimated to be 10 percent lower than comparable kitchens on the market. The aim is to become Sweden’s leading online distributor for building materials, kitchens and bathrooms. A kitchen with three closets, four cabinets and a countertop will cost 4999 SEK. 
“We want to drive down the price of building materials, bathrooms and kitchens in Sweden. Today, there are many highly priced kitchens and we want to increase competition by cutting costs whilst maintaining high quality. Kitchens should not be expensive, "said Magnus Agervald, CEO of Byggmax. 
The DIY-market today is estimated at around 30 billion SEK* in Sweden. An increasing number of Swedes are using the internet, and do more research and product comparisons. The growth of e-commerce is expected to exceed the traditional segments of 8 percent per year and constitute 7.8 percent of GDP in 2015 **. 
Sources: * Mintel DIY Retailing, ** Boston Consulting Group 

Extract from the Swedish Kitchen Repport

What advantages do you see in buying building products, such as kitchens and interiors, online?

• Easy to compare price, 56 percent
• Easy to get an overview and compare products, 45 percent
• I can buy when I have time, 45 percent
• I can look at the products at leisure, 43 percent
• There is a wide range, 40 percent
• It saves me time, 33 percent
• I do not have to bring home the goods myself, 29 percent
Gender and age differences
Men are more interested to compare price than women, 58 and 54 percent respectively.  Most prominent was within the 18-34 age group where a full 67 percent said "price comparison" was the biggest advantage. Stockholm citizens were overrepresented in the survey by 60 percent, while Swedes in small towns (20-50 000 inhabitants) were represented by 47 percent.
What are you willing to pay for a completely renovated kitchen including cabinets, drawers, finishes and appliances for a 20 sqm kitchen?

• Up to 9999 SEK, 12 percent
• 10000-19999 SEK, 7 percent
• 20000-29999 SEK, 11 percent
• 30000-39999 SEK, 9 percent
• 40000-49999 SEK, 7 percent
• 50000-59000 SEK, 16 percent
• 60000-69000 SEK, 5 percent
• 70000-79000 SEK, 7 percent
• 80000-89000 SEK, 4 percent
• 90 000 99 000 SEK, 0 percent
• 100000-149000 SEK, 13 percent
• 150 000 SEK or more, 9 percent
Geographical differences:
Stockholm residents are willing to pay the most for a fully renovated kitchen, with 25 percent willing to pay 100 000 SEK or more. Residents of smaller towns are willing to spend the smallest amount in the country, with 16 percent saying they would spend up to 9999 SEK. The average amount that Swedes are prepared to pay is 59 000 SEK for a completely renovated kitchen.

Where do you find inspiration for new kitchen solutions?
• Interior design shows on television, 48 percent
• With friends / family, 47 percent
• Visits to the home furnishing store, 41 percent
• Reading furnishing magazines / newspapers, 40 percent
• Online (blogs, building and interior sites, etc.), 32 percent
• Resident and housing demonstrations, 16 percent
• Trade shows, 10 percent
• On trips, 9 percent
• Other, 7 percent
Geographical differences:
Citizens of Stockholm are mainly inspired by friends and family, 51 percent. The population in the southern and northern parts of Sweden are mainly inspired by interior design programs on television, 50 percent and 50 percent respectively. In total, 32 percent find their inspiration online (blogs, building and interior sites).
Differences between the genders:
Men find greater inspiration online (blogs, building and interior sites) by 34 percent. Women are generally inspired by interior programs on television, 53 percent.