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Half-yearly Report 2008

Highlights of the second quarter

* Net sales increased by 2.4% excluding changes in exchange rates
* Earnings per share amounted to SEK 0.36 (1.94)
* Operating income declined to SEK 793m (921), excluding items affecting comparability
* Underlying result in North America stable despite the weak market development
* Electrolux product launch in North America is proceeding better than expected
* Declining markets in Western Europe and currently high product costs had a negative impact on operating income for appliances in Europe
* Cost-out initiatives in Europe are proceeding according to plan
* Improved results for appliances in Latin America, Asia/Pacific and for Professional Products
* Stable margin and result for floor-care products
* New outlook: We expect an operating income for the full year of 2008 of SEK 3,300-3,900m provided that the market for appliances in Europe declines by 1-2% and the market in North America declines by 5-8%

Half-yearly Report 2008

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