- Major part of improvement in operating income refers to Consumer Durables in North America
- Consumer Durables in Europe continues to show higher income and margin
- Marked decline in income for Consumer Durables in Rest of the world
- Strong improvement in operating cash flow and net debt/equity ratio
- Board proposes an increase of dividend to SEK 6.00 (4.50)
- Board proposes new share repurchase program and cancellation of previously repurchased shares
NET SALES AND INCOME
Net sales for the Electrolux Group in 2002 declined to SEK 133,150m, as against SEK 135,803m in the previous year. This corresponds to a decline of 2.0%, of which -3.4% refers to changes in Group structure, -4.1% to changes in exchange rates, and +5.5% to volume/price/mix.
The Group’s operating income for 2002 increased by 23% to SEK 7,731m (6,281), which corresponds to 5.8% (4.6) of net sales. Income after financial items increased by 45% to SEK 7,545m (5,215), representing 5.7% (3.8) of net sales. Net income increased by 32% to SEK 5,095m (3,870), corresponding to SEK 15.60 (11.35) per share.