Highlights of the second quarter
- Net sales increased by 2.4% excluding changes in exchange rates
- Earnings per share amounted to SEK 0.36 (1.94)
- Operating income declined to SEK 793m (921), excluding items affecting comparability
- Underlying result in North America stable despite the weak market development
- Electrolux product launch in North America is proceeding better than expected
- Declining markets in Western Europe and currently high product costs had a negative impact on operating income for appliances in Europe
- Cost-out initiatives in Europe are proceeding according to plan
- Improved results for appliances in Latin America, Asia/Pacific and for Professional Products
- Stable margin and result for floor-care products
- New outlook: We expect an operating income for the full year of 2008 of SEK 3,300-3,900m provided that the market for appliances in Europe declines by 1-2% and the market in North America declines by 5-8%
Telephone conference
A telephone conference will be held at 15.00 CET on July 17, 2008. The telephone conference will be chaired by Hans Stråberg, President and CEO of Electrolux. Mr. Stråberg will be accompanied by Fredrik Rystedt, CFO.
A slide presentation for the second quarter of 2008 will be available on the Electrolux website www.electrolux.com/ir
Financial reports in 2008
Interim report July – September October 27
For more information
Peter Nyquist, Vice President, Investor Relations and Financial Information: +46 8 738 60 03
Financial information from Electrolux is also available at www.electrolux.com/ir
