Continued weak market demand compared to the previous year, together with significant promotional activity and reduced consumer purchasing power, has led to a declining price mix, which has impacted the Own Brands area. We have however seen in the last quarter OEM and NAR Own Brand business growth, thanks to the distribution strategy and the new commercial agreements.
The sales numbers are considered in view of the significant heating segment slowdown emerging in the third quarter, which impacted also Q4. This follows the changes to the incentive rules and the effect of the announcement of the legislation, together with the OEM customer stock reduction measures.