Half-yearly report 2002

  • Higher demand in the US, somewhat weaker market conditions in Europe
  • Marked upturn in income for North American operation, production of refrigerators normalized
  • Substantially higher income and improved margin for appliances in Europe, despite difficult market environment
  • Ongoing restructuring measures proceeding according to plan

Net sales and income

Net sales for Electrolux in the first half of 2002 amounted to SEK 70,804m, compared with SEK 71,129m for the same period in the preceding year. This corresponds to a decrease of 0.5%, of which +0.4% is attributable to exchange rate fluctuations, -4.6% to changes in Group structure, and +3.7% to volume/price/mix. See page 6 for changes in Group structure.

Operating income increased to SEK 6,513m (3,888), corresponding to 9.2% (5.5) of sales, and income after financial items increased to SEK 6,376m (3,251), corresponding to 9.0% (4.6) of sales. Net income rose to SEK 4,812m (2,228), which corresponds to SEK 14.60 (6.55) per share.