Highlights of the fourth quarter of 2011
- Net sales amounted to SEK 28,369m (27,556) and income for the period was SEK 221m (677), or SEK 0.77 (2.38) per share.
- Operating income amounted to SEK 1,441m (1,714), corresponding to a margin of 5.1% (6.2), excluding items affecting comparability and non-recurring items.
- Non-recurring costs amounted to SEK 825m, including SEK 635m for overhead reductions and WEEE related costs of SEK 190m for earlier years.
- Most of the Group’s operations showed solid results in a challenging environment.
- Operations in North America were negatively impacted by lower volumes and higher costs for raw materials.
Highlights of the full year of 2011
- Net sales increased by 1.9% in comparable currencies.
- Operating margin, excluding items affecting comparability and non-recurring costs, amounted to 3.9% (6.1).
- Price pressure and increased costs for raw materials had an adverse impact on operating income.
- Acquisitions of the appliance companies Olympic Group in Egypt and CTI in Chile.
- Efforts to reduce working capital have contributed to a solid balance sheet.
- The Board proposes a dividend for 2011 of SEK 6.50 (6.50) per share.
- The Board proposes a renewed AGM mandate to repurchase own shares.
A telephone conference is held at 15.00 CET on February 2, 2012. The conference is chaired by Keith McLoughlin, President and CEO of Electrolux. Mr. McLoughlin is accompanied by Peter Nyquist, SVP Investor Relations and Financial Information.
A slide presentation on the fourth-quarter and full-year 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