Board of Directors Report for 2009
- Net sales amounted to SEK 109,132m (104,792) and income for the period to SEK 2,607m (366), corresponding to SEK 9.18 (1.29) per share.
- Net sales declined by 5% in comparable currencies, due to weak demand in Electrolux main markets.
- Prices and mix improvements had a positive impact on sales.
- Operating income increased to SEK 3,761m (1,188).
- Cost savings, higher prices, lower costs for raw materials and an improved mix contributed strongly to the improvement in income.
- Results improved in all regions.
- Extra contributions of SEK 3,935m to Group pension funds, resulting in appropriate funding levels and reduced balance-sheet risk exposures to pension commitments.
- Strong cash flow, excluding extra pension contributions, generated by improvements in operating income and working capital.
- The Board of Directors proposes a dividend for 2009 of SEK 4.00 (0.00) per share.