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Interim report January – March 2009

Highlights of the first quarter of 2009

* Net sales amounted to SEK 25,818m (24,193) and income for the period to SEK -346m (-106), or SEK -1.22 (-0.38) per share.
* Net sales declined by 8.4%, in comparable currencies, due to continued sharp market downturn in Electrolux main markets.
* Operating income amounted to SEK 38m, excluding items affecting comparability.
* Restructuring charges totalling SEK 424m taken for reducing manufacturing capacity in Italy, Russia and China.
* Changes in exchange rates had a negative impact of SEK 397m on operating income, primarily in Asia/Pacific, Latin America and Europe.
* Continued strong cash flow gives Electrolux a solid financial position.
* On-going cost-cutting measures starting to generate savings on a global basis.
* Operating income in Europe adversely impacted by continued weak markets, while price increases and cost savings had a positive impact.
* Operating income for appliances in North America in line with the previous year in comparable currencies.
* Electrolux continues to take market shares in the market for appliances in North America.

Interim report January – March 2009

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