Highlights of the third quarter of 2008
- Net sales amounted to SEK 26,349m (26,374). Net sales rose by 1.6% in comparable currencies.
- Earnings per share amounted to SEK 2.99 (2.71)
- Operating income amounted to SEK 1,178m (1,152), excluding items affecting comparability
- Despite a weak market in North America, operating income is stable mainly as a result of price increases
- The Electrolux product launch in North America continues to exceed expectations
- Income for appliances in Europe was negatively impacted by declining volumes and prices, which was partly offset by cost savings
- Improved results for appliances in Latin America and Asia/Pacific, Professional Products and floor-care products
- The outlook for our operating income is unchanged. We expect an operating income for 2008 of SEK 3,300–3,900m. The increasing uncertainty in the overall global economy makes it extremely difficult to predict the market development. Therefore, we have decided not to present a market forecast for the remaining part of the year.
A telephone conference will be held at 15.00-16.00 CET on October 27, 2008. The conference will be chaired by Hans Stråberg, President and CEO of Electrolux.
Mr. Stråberg will be accompanied by Peter Nyquist, Head of Investor Relations and Financial Information. A slide presentation for the third quarter of 2008 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
Financial reports 2009
Consolidated results 2008, February 4
Interim report January–March, April 22
Interim report January–June, July 16
Interim report January–September, October 26
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