Highlights of the fourth quarter of 2010
- Net sales amounted to SEK 27,556m (28,215) and income for the period was SEK 677m (664), or SEK 2.38 (2.34) per share.
- Net sales increased by 1.6% in comparable currencies.
- Strong growth in Latin America and Asia/Pacific offset lower sales volumes in Europe and North America.
- Operating income amounted to SEK 1,714m (2,023), corresponding to a margin of 6.2% (7.2), excluding items affecting comparability.
- Strong performance for the operations in Asia/Pacific, Latin America and for Professional Products.
- Operating income in North America and Europe declined, following higher costs for raw materials and lower sales prices.
Highlights of the full year of 2010
- Electrolux showed a record profit and reached the operating margin target of 6% for the full-year 2010, excluding items affecting comparability.
- All business areas outperformed previous year’s results.
- Improvements in product mix and cost savings offset higher costs for raw materials and downward pressure on prices.
- The Board proposes a dividend for 2010 of SEK 6.50 (4.00) per share.
- The Board proposes a renewed AGM mandate to repurchase own shares.
Telephone conference
A telephone conference is held at 16.00 CET on February 2, 2011. The conference is chaired by Keith McLoughlin, President and CEO of Electrolux. Mr McLoughlin is accompanied by Jonas Samuelson, CFO and COO, and Peter Nyquist, Head of Investor Relations and Financial Information.
A slide presentation on the fourth-quarter and full-year results of 2010 will be available on the Electrolux website www.electrolux.com/ir
Details for participation by telephone are as follows:
- Participants in Sweden should call +46 (0)8 505 598 53
- Participants in UK/Europe should call +44 (0)20 3043 2436
- Participants in US should call +1 866 458 4087
You can also listen to the presentation at http://www.electrolux.com/webcast1
For further information
- Peter Nyquist, Senior Vice President, Head of Investor Relations and Financial Information:
+46 (0)8 738 60 03. - Financial information from Electrolux is also available at www.electrolux.com/ir
