Highlights of the second quarter of 2010
- Net sales amounted to SEK 27,311m (27,482) and income for the period was SEK 1,028m (658), or SEK 3.61 (2.32) per share.
- Net sales increased by 2.8% in comparable currencies, due to higher sales volumes.
- Operating income amounted to SEK 1,477m (1,027), corresponding to a margin of 5.4% (3.7), excluding items affecting comparability.
- Operating margin for the past 12-month period reached 6.5%, excluding items affecting comparability.
- Operating income improved across all business areas, in comparable currencies.
- Higher volumes and product mix improvements had a positive effect on income.
- Higher costs for raw materials and increased marketing spend had a negative impact on operating income.
- Solid cash flow in the quarter.
- The US market continued to recover during the quarter.
- The overall European market stabilized, but demand weakened in Southern Europe at the end of the quarter.
A telephone conference is held at 15.00 CET on July 19, 2010. The conference is chaired by Hans Stråberg, President and CEO of Electrolux. Mr. Stråberg is accompanied by Jonas Samuelson, CFO, and Peter Nyquist, Head of Investor Relations and Financial Information.
Details for participation by telephone are as follows:
- Participants in Sweden should call +46 (0)8 505 598 53
- Participants in UK/Europe should call +44 (0)20 3043 2436
- Participants in US should call +1 866 458 4087
You can also listen to the presentation here
For further information
Peter Nyquist, Head of Investor Relations and Financial Information: +46 (0)8 738 60 03.