Highlights of the second quarter of 2011
- Net sales amounted to SEK 24,143m (27,311) and income for the period was SEK 561m (1,028) or SEK 1.97 (3.61) per share.
- Net sales decreased by 2% in comparable currencies mainly as a result of lower prices.
- Operating income amounted to SEK 745m (1,477), corresponding to a margin of 3.1% (5.4), excluding items affecting comparability.
- Price pressure, increased costs for raw-materials and sourced products had an adverse impact on operating income in all regions.
- Lower sales volumes of core appliances in Western Europe and North America driven by weak demand.
- Price increases are being implemented in all regions.
- Results for Professional Products continued to be strong, including a positive one-off item of SEK 90m.
- Strong sales growth in Asia and a firm operating margin.
- Solid cash flow from operations.
- A final agreement signed to acquire Olympic Group in Egypt.
