Highlights of the third quarter of 2011
- Net sales amounted to SEK 25,650m (26,326) and income for the period was SEK 825m (1,381), or SEK 2.90 (4.85) per share.
- Net sales increased by 2.2% in comparable currencies and including one month of sales from Olympic Group, mainly as a result of higher sales volumes.
- Operating income amounted to SEK 1,098m (1,977), corresponding to a margin of 4.3% (7.5), excluding items affecting comparability.
- Price pressure and increased costs for raw materials had an adverse impact on operating income.
- Weak demand in mature markets while demand in emerging markets continued to show strong growth.
- Solid results for operations in Latin America and Professional Products.
- Stable underlying cash flow from operations.
- Acquisition of appliance company Olympic Group in Egypt completed.
- Acquisition of appliance company CTI in Chile announced and completed.
- Operating income includes approximately SEK 90m in expenses related to the acquisitions.
- Changed market outlook; decline in mature markets.
Telephone conference
A telephone conference is held at 15.00 CET on October 28, 2011. The conference is chaired by Keith McLoughlin, President and CEO of Electrolux. Mr. McLoughlin is accompanied by Jonas Samuelson, Head of Major Appliances Europe, Middle East and Africa (former CFO & COO), and Peter Nyquist, SVP Investor Relations and Financial Information.
A slide presentation on the third-quarter results of 2011 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 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
