Highlights of the first quarter of 2009
- Net sales amounted to SEK 25,818m (24,193) and income for the period to SEK -346m (-106), or SEK -1.22 (-0.38) per share.
- Net sales declined by 8.4%, in comparable currencies, due to continued sharp market downturn in Electrolux main markets.
- Operating income amounted to SEK 38m, excluding items affecting comparability.
- Restructuring charges totalling SEK 424m taken for reducing manufacturing capacity in Italy, Russia and China.
- Changes in exchange rates had a negative impact of SEK 397m on operating income, primarily in Asia/Pacific, Latin America and Europe.
- Continued strong cash flow gives Electrolux a solid financial position.
- On-going cost-cutting measures starting to generate savings on a global basis.
- Operating income in Europe adversely impacted by continued weak markets, while price increases and cost savings had a positive impact.
- Operating income for appliances in North America in line with the previous year in comparable currencies.
- Electrolux continues to take market shares in the market for appliances in North America.
A telephone conference will be held at 15.00-16.00 CET on April 22, 2009. The conference will be chaired by Hans Stråberg, President and CEO of Electrolux. Mr. Stråberg will be accompanied by Jonas Samuelson, CFO, and Peter Nyquist, Head of Investor Relations and Financial Information. A slide presentation for the first quarter of 2009 will be available on the Electrolux website www.electrolux.com/ir
Details for participation by telephone:
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 http://www.electrolux.com/webcast1
For further information
Peter Nyquist, 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