Highlights of the first quarter of 2010
- Net sales amounted to SEK 25,133m (25,818) and income for the period was SEK 911m (-346), or SEK 3.20 (-1.22) per share.
- Net sales increased by 4.1% in comparable currencies, due to higher sales volumes.
- Operating income amounted to SEK 1,326m (38), corresponding to a margin of 5.3%, excluding items affecting comparability.
- Strong improvements in mix for appliances in North America and within floor-care operations as a result of product launches.
- The US market showed a solid recovery in the first quarter.
- Significant margin improvements in Asia/Pacific and Latin America.
- Increased efficiency in operations had a positive effect on income.
- Changes in exchange rates had a positive effect on income.
- Lower costs for raw materials contributed to the improvement in income.
However, costs for raw materials were higher than in the fourth quarter of 2009.
A telephone conference is held at 15.30 CET on April 27, 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.
A slide presentation on the first-quarter results of 2010 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 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