Highlights of the first quarter of 2018
- Net sales amounted to SEK 27,906m (28,201). Sales growth was 3.3%, while currency translation had a negative impact of 4.4%. Strong organic sales growth in Major Appliances EMEA and Asia/Pacific.
- Operating income amounted to SEK 764m (1,442), corresponding to a margin of 2.7% (5.1).
- Operating income includes restructuring costs of SEK 596m relating to the consolidation of freezer production in North America. Excluding these costs, operating income amounted to SEK 1,360m, corresponding to a margin of 4.9%.
- Product mix improvements and higher cost efficiency offset accelerating input costs pressures and unfavorable currency effects.
- Continued solid earnings development across most business areas, although earnings for Major
- Appliances Latin America was significantly impacted by higher costs for raw materials and currency headwinds.
- Operating cash flow after investments amounted to SEK -2.7bn (-1.0).
- Income for the period decreased to SEK 551m (1,012), and earnings per share was SEK 1.92 (3.52).