- Net sales amounted to SEK 101,598m (106,326)
and income for the period to SEK 2,064m (3,997),
corresponding to SEK 7.25 (14.04) per share.
- Net sales increased by 1.9% in comparable currencies. Acquisitions had an impact on net sales by 1.7%.
- Weak demand in mature markets while demand in emerging markets showed strong growth.
- Operating income decreased to SEK 3,017m (5,430),
corresponding to an operating margin of 3.0% (5.1).
- Lower sales prices and increased costs for raw materials had an adverse impact on operating income.
- Non-recurring costs of SEK 825m were charged to operating income for overhead reductions and WEEE related costs for earlier years.
- Operating income amounted to SEK 3,980m (6,494), corresponding to a margin of 3.9% (6.1), excluding items affecting comparability and non-recurring costs.
- Acquisitions of the appliances companies Olympic Group in Egypt and CTI in Chile.
- The Board of Directors proposes a dividend for 2011
of SEK 6.50 (6.50) per share.
- The Board proposes a renewed AGM mandate to repurchase own shares.
Key data | |||
SEKm | 2011 | Change % | 2010 |
Net sales | 101,598 | –4 | 106,326 |
Operating income | 3,017 | –44 | 5,430 |
Margin, % | 3.0 | 5.1 | |
Income after financial items | 2,780 | –48 | 5,306 |
Income for the period | 2,064 | –48 | 3,997 |
Earnings per share, SEK | 7.25 | 14.04 | |
Dividend per share, SEK | 6.501) | 6.50 | |
Net debt/equity ratio | 0.31 | –0.03 | |
Return on equity, % | 10.4 | 20.6 | |
Average number of employees | 52,916 | 51,544 | |
Excluding items affecting comparability | |||
Items affecting comparability | –138 | –1,064 | |
Operating income | 3,155 | –51 | 6,494 |
Margin, % | 3.1 | 6.1 | |
Income after financial items | 2,918 | –54 | 6,370 |
Income for the period | 2,148 | –55 | 4,739 |
Earnings per share, SEK | 7.55 | 16.65 | |
Return on net assets, % | 13.5 | 31.0 | |
Non-recurring costs in the fourth quarter of 2011 | –825 | — | |
Operating income excluding non-recurring costs and items affecting comparability | 3,980 | –39 | 6,494 |
Margin, % | 3.9 | 6.1 | |
1) Proposed by the Board of Directors. | |||