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.