Highlights of the fourth quarter of 2009
- Net sales amounted to SEK 28,215m (28,663) and income for the period was SEK 664m (-474), or SEK 2.34 (-1.68) per share.
- Net sales declined by 1% in comparable currencies, due to continued weak markets.
- Price and mix continued to have a positive effect on sales.
- Operating income amounted to SEK 2,023m (-389), corresponding to a margin of 7.2%, excluding items affecting comparability.
- Results improved across all business areas.
- Lower costs for raw materials positively impacted income. However, costs for raw materials increased in the quarter compared to the third quarter of 2009.
- Cost savings, sales prices and lower costs for raw materials contributed strongly to the improvement in income.
- Extra contributions of SEK 3,935m to Group pension funds in fourth quarter resulting in appropriate funding levels and reduced balance-sheet risk exposure to pension commitments.
- Continued strong operating cash flow in the quarter, excluding extra pension contributions, resulted in a very strong cash flow for 2009.
- The Board proposes a dividend for 2009 of SEK 4.00 (0.00) per share.
Presentation at Electrolux headquarters
A presentation will be held at 15.30 CET on February 3, 2010 at Electrolux headquarters,
S:t Göransgatan 143 in Stockholm, Sweden. The presentation will be chaired by Hans Stråberg, Presi¬dent and CEO of Electrolux. Mr. Stråberg will be accompanied by Jonas Samuelson, CFO, and Peter Nyquist, Head of Investor Rela¬tions and Financial Information.
A slide presentation for the fourth-quarter and full-year results of 2009 will be available on the Electrolux website www.electrolux.com/ir
If you are not able to participate in person at Electrolux headquarters, you can also participate by telephone. The 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 http://www.electrolux.com/webcast1
For further information
Peter Nyquist, 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