Highlights of the second quarter of 2013
- Net sales amounted to SEK 27,674m (27,763) and income for the period was SEK 642m (701), or SEK 2.24 (2.44) per share.
- Organic sales growth was 5.9%, while currencies had a negative impact of –6.2%.
- Latin America reported an organic growth of 18%.
- The North American core appliances market was up by approximately 9% in the quarter and Electrolux continued to gain market share in its core categories.
- North America reached an operating margin of 8% as a result of increased volumes and improvements in price and mix.
- In Europe, lower volumes and prices as well as negative currency movements impacted results negatively.
- Negative impact from currencies by SEK –181m impacted earnings for Europe and Latin America.
- Operating cash flow improved substantially over the first quarter of 2013 and amounted to SEK 2.5 billion.
A telephone conference is held at 13.00 CET on July 19, 2013. 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 2013 will be available on the Electrolux website http://www.electrolux.com/ir
Details for participation by telephone are as follows:
- Participants in Sweden should call +46 8 505 564 74
- Participants in UK/Europe should call +44 203 364 5374
- Participants in US should call +1 855 753 2230
You can also listen to the presentation at http://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 available at http://www.electrolux.com/ir