Highlights of the second quarter of 2012
- Net sales amounted to SEK 27,763m (24,143) and income for the period was SEK 763m (561), or SEK 2.67 (1.97) per share.
- Net sales improved by 15%, of which 5.8% was organic growth, 5.6 % acquisitions and 3.6% changes in exchange rates.
- Strong organic growth, especially in Latin America and Asia, contributed to the favorable development of net sales.
- Europe gained market share in all product categories for core appliances.
- Operating income improved to SEK 1,150m (745), corresponding to a margin of 4.1% (3.1).
- Higher sales prices in North America had a positive impact on operating income.
- Improvements in volume, price and mix contributed positively to results in Latin America.
- Higher costs for raw materials continued to impact earnings negatively, but to a lesser extent than in previous quarters. These higher costs were offset by operational efficiency.
- Strong cash flow in the quarter.
A telephone conference is held at 15.00 CET on July 19, 2012. The conference is chaired by Keith McLoughlin, President and CEO of Electrolux. Mr. McLoughlin is accompanied by Tomas Eliasson, CFO, and Peter Nyquist, SVP Investor Relations and Financial Information.
A slide presentation on the second-quarter results of 2012 will be available on the Electrolux website www.electrolux.com/ir
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 at www.electrolux.com/interim-report-webcast
For further information
Peter Nyquist, Senior Vice President, Head of Investor Relations and Financial Information: +46 (0)8 738 60 03.
Financial information from Electrolux is also available at www.electrolux.com/ir