Highlights of the first quarter of 2013
- Net sales amounted to SEK 25,328m (25,875) and reported income for the period was SEK 361m (499), or SEK 1.26 (1.76) per share.
- Organic growth was 3.8%, while currencies had a negative impact of –5.9%.
- Continued strong sales growth in North America, Asia/Pacific and Latin America.
- Market conditions in Europe weakened and sales for Major Appliances, Small Appliances and Professional Products were negatively impacted.
- North America more than tripled its earnings year-over-year as a result of strong volume growth and improvements in price and mix.
- Lower volumes and a weak price/mix trend in Europe negatively impacted results.
- Negative impact from currencies by SEK –318m impacted earnings for Latin America, Europe and Small Appliances.
- Seasonal build-up of inventories and working capital needs driven by strong growth impacted cash-flow in the quarter.
A telephone conference is held at 15.00 CET on April 25, 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 first-quarter results of 2013 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 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 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 www.electrolux.com/ir