Interim Report Q2 2011 Results Presentation

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.