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.