Highlights of the third quarter of 2013
- Net sales amounted to SEK 27,258m (27,171) and income for the period was SEK 656m (923), or SEK 2.29 (3.22) per share.
- Organic sales growth was 4.9%, while currencies had a negative impact of –4.6%.
- Continued organic sales growth in all regions, except for Major Appliances Europe, Middle East and Africa.
- North America continued to show strong organic growth of 8% and reached an operating margin of 7% as a result of increased volumes and improved mix.
- Continued weak markets and lower volumes impacted results negatively in Europe.
- Strong performance for Professional Products.
- Negative impact from currencies of SEK –519m affected earnings in Latin America, Asia/Pacific and Europe.
- Initiated actions to reduce annual costs by SEK 1.8bn by improving manufacturing footprint and reducing overhead costs, mainly within Major Appliances Europe.
A telephone conference is held at 9.00 CET on October 25, 2013. The conference is chaired by Keith McLoughlin, President and CEO of Electrolux and Tomas Eliasson, CFO.
A slide presentation on the third-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
Investor Relations and Financial Information: +46 (0)8 738 60 03.
Financial information from Electrolux is available at http://www.electrolux.com/ir
Electrolux discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act.
The information was submitted for publication at 08.00 CET on October 25