First Quarter Report, 2003

  • Higher operating income for Consumer Durables in Europe
  • Continued positive trend in sales and income for appliances in North America in local currency
  • Substantial downturn in income for Consumer Durables outside Europe and North America
  • Revised outlook for full year

Net sales and income

Net sales for the Electrolux Group in the first quarter of 2003 amounted to SEK 32,062m, as against SEK 33,580m for the same period in the previous year. This corresponds to a decrease of 4.5%, of which -11.2% refers to changes in exchange rates, +0.1% to changes in Group’s structure, and +6.6% to price/mix/volume.

Operating income declined to SEK 1,798m (3,791), corresponding to 5.6% (11.3) of sales, and income after financial items decreased to SEK 1,798m (3,682), which corresponds to 5.6% (11.0) of sales. Net income declined to SEK 1,246m (2,962), corresponding to SEK 3.95 (9.00) per share.